The Ministry of Water Supply is working on implementing a water tariff formula to be implemented from January, 2024, the President’s Media Division said.
The PMD quoting Minister of Water Supply and Estate Infrastructure Development Jeevan Thondaman said there are no plans to go for a water tariff revision this year, instead a new formula will be in place from next year.
“Following the water tariff hike in August 2023, there will be no further increase. The focus is now on developing a cost recovery formula, a collaborative effort with the Water Board and Asian Development Bank project, an integral part of a policy-based sub programme,” the Minister said.
According to him, the sub programme aims to contribute US 100 million dollars to the centralized budget upon completion of the project.
The water tariff formula will be applied to consumers of 2.96 million Water Board connections.
Sri Lanka’s apparel industry has expressed concern over the Reciprocal Tariff policy announced by the U.S government today saying the new tariffs could significantly disrupt the country’s largest export sector and put thousands of jobs at risk.
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