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MANILA, Philippines – The board trustees of the Metropolitan Waterworks and Sewerage System (MWSS) has appointed a professor of the University of the Philippines (UP) as the new head of its regulatory office (MWSS-RO).
Appointed as new chief regulator is Joel Yu, an associate professor of the Cesar E. A. Virata School of Business of UP-Diliman.
Yu assumes the post vacated by former acting chief regulator Emmanuel Caparas, who resigned last month.
Yu obtained a degree of Bachelor of Arts in Economics from UP and a Master of Science in Industrial Economics from the University of Asia and the Pacific. He also holds a Doctorate in Business Administration from UP-Diliman.
Why Caparas resigned?
Caparas relinquished his position on June 30 to focus on his tasks as a board member and for the board to appoint a chief regulator who will be focused exclusively on the affairs of the MWSS-RO.
His resignation stemmed from an audit observation memorandum issued by the Commission on Audit (COA) that said he could not sit as board member and chief regulator at the same time because this violates the concession agreement between MWSS and Metro Manila’s water concessionaires.
According to the concession agreement, the MWSS-RO is responsible for setting water rates in Metro Manila. MWSS-RO is also in charge of compelling concessionaires to follow specifications set by the MWSS in water projects, among other functions.
Caparas also clarified that his resignation from MWSS-RO is unrelated to the ongoing arbitration on the decision to reduce metro water rates.
In September 2013, the MWSS ordered Manila Water to reduce rates by P7.24 ($0.17*) per cu. m. over a 5-year period or P1.45 ($0.033) per cu. m. a year.
On the other hand, Maynilad was ordered to slash water rates by P1.40 ($0.032) over 5 years or P0.29 ($0.007) per cu. m. a year.
The 2 water concessionaires challenged the rate cut determined by the MWSS-RO before the International Chamber of Commerce.
The MWSS has suspended the implementation of the rate cut until the arbitration process is concluded. – Rappler.com
*($1 = P43.32)
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