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
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.