Chief Executive Officer of the Central Water and Sewerage Authority (CWSA) Mr. Garth Saunders, during a recent press conference provided details on the financial impact that the COVID-19 pandemic has had on the company.
“In 2019 CWSA’s overall annual revenue was 29.6 million dollars, that’s prior to COVID. In 2020, our revenue, because of the impact of the lack of business, tourism, our revenue fell by 1.2 million dollars to 28.4 million dollars, and we are projecting that in 2021 we will be at that same level.” He said.
Mr. Saunders said that it is the hope of the CWSA that in the later end of the year that some of the losses incurred by the company can be recovered.
The CWSA’s CEO also addressed the surplus.
“Our surplus in 2019 was 1.7 million dollars, we are going to report a surplus in 2020 of just over zero; we just broke even in 2020 because of the loss of revenue and because of the increases in customer offerings and because of the increases in expenses.” Saunders said.
