The Karachi Water and Sewerage Board (KW&SB) has decided to establish a committee to unearth financial irregularities in the board, which are said to cause the recent financial crisis being confronted by the utility. The KW&SB is facing huge financial crisis, owing to mismanagement in financial accounts.
In an exclusive interview, KW&SB Managing Director Suleman Chandio told Business Recorder that the past administration has failed to manage department's financial heads properly, terming as a main factor for financial crisis.
He said that last management had initiated several development projects without evaluating the actual income of the board, which led the board to a financial crisis, as it has no cash to complete the ongoing projects.
As per the directives issued by Sindh Local Bodies Minister Aga Siraj Durrani, the board has decided to establish a committee to determine root causes of financial crisis, he informed.
Chandio blamed the previous management of the board for manipulation several financial heads to meet over budget. He said that Sindh government has allowed the board to revise its water tariff, annually but it has not been practised for the last nine years.
However, tariff of other utilities including, electricity, gasoline were increased during the said period, and termed it another factor behind the crisis.
Keeping this in view, the board has decided to increase its water tariff by nine percent as per budget gazette approved by the Sindh government, which would be applicable only for commercial and residential plots and flat owners were excluded from it, he added.