Dr. Gerry J. Caño, Board Director of the Cagayan de Oro City Water District (COWD), announced plans for a 40 percent increase in water rates this year.
According to Dr. Caño, the measure is necessary to address the growing problem of Non-Revenue Water and to fund essential projects for improved service.
He explained that the agency has not received subsidies from either the local or national government and is unable to secure loans from banks due to limited repayment capacity.
Dr. Caño stressed that COWD was created under the law with restrictions on financing, meaning all collections must be allocated solely for facility repairs and improvements.
Meanwhile, a public hearing is scheduled next week to discuss the petition, which will be submitted to the Local Water Utilities Administration for approval.
