NWC Pondering Sale of its $20bn Debt

The National Water Commission, NWC, is considering selling portions of its debt.

This, to enable it to finance a number of critical improvement projects.

In a statement to the media this afternoon, the NWC says it’s owed more than $20-billion by delinquent customers across the island.

It says this level of delinquency is preventing it from doing many essential improvement and expansion projects.

President of NWC, Mark Barnett, says the company is looking into the feasibility of selling portions of its debts to interested receivables management entities at a discounted rate.

It says the entity that buys the debts would be responsible for collecting from the delinquent customers.

Mr. Barnett says the NWC has engaged lawyers to go after revenues it’s having difficulty collecting.

It’s also contracted debt collectors and is looking at other creative ways to ensure that those who receive NWC service pay their fair share of the cost of delivering it.

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