Government to privatize WASA

The Island Newspaper, Ambergris Caye, Belize            Vol. 11, No. 1            January 4, 2001

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Following a special session of Cabinet on Thursday, 28th December, Government announced it has decided to privatize the Belize Water and Sewerage Authority. A prospectus will be released early in the new year offering shares in the new water company for sale to the public. 

    The privatized company, Belize Water Services Limited, which will be licensed and regulated by the Public Utilities Commission, will be fully committed to the expansion and improvement of water supply and sewerage services within existing and future service areas. These service areas do not include the current independent rural water systems. The new company will also be committed to implement efficiency measures aimed at significantly reducing water loss, improving management, conducting training and transferring technology to Belize.

    Under the new arrangements, WASA's employees' benefits have been secured and they have been offered shares, to be paid for by payroll deductions over two years. Government, through the Belize Social Security Board, will continue to hold  ten percent of the total shares in the new company. Government will name two Directors by virtue of its holding of a special share, one of these Directors will be appointed Chairman of the new Board of Directors. The Social Security Board will also be entitled to appoint one Director to the Board.
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