'No Bank Coming Forward To Finance Bengaluru Water Body': Karnataka Dy CM On Possibility Of Water Rate Hike

This potential tariff hike discussion comes just days after the Karnataka government announced a Rs 3 increase in fuel prices.

DK Shivakumar further elaborated on the skepticism from financing companies, who criticize the politicization of issues without efforts to at least break even.

Source : Facebook/DKShivakumar

In a bid to address the financial challenges faced by Bengaluru Water Supply and Sewerage Board (BWSSB), Karnataka Deputy Chief Minister and Bengaluru Development Minister D.K. Shivakumar has indicated the possibility of an increase in monthly water charges.

During a recent statement, Shivakumar highlighted the pressing financial strains on the BWSSB, pointing out that water tariffs in Bengaluru have remained unchanged for the past decade. "The water tariff has not been increased in Bengaluru in the last 10 years. There has been a great loss. We have to take new projects. No bank is coming forward to finance the BWSSB. Every year we are suffering the big loss," Shivakumar explained.

VIDEO | Here's what Karnataka Deputy CM DK Shivakumar said on possibility of rise in water tariff in Bengaluru.

"The water tariff has not been increased in Bengaluru in the last 10 years. There has been a great loss. We have to take new projects. No bank is coming forward to… pic.twitter.com/CtYBXsYakE

— Press Trust of India (@PTI_News) June 19, 2024

 

He further elaborated on the skepticism from financing companies, who criticize the politicization of issues without efforts to at least break even. "The financing companies are saying that we are only politicising the issues but not trying to at least breakeven the company. I have asked the officials to examine the issue. We will put the facts in public domain and then we will take the decision," he said.

This potential tariff hike discussion comes just days after the Karnataka government announced a Rs 3 increase in fuel prices.

Earlier, the Karnataka government increased the Value Added Tax (VAT) on petrol to 29.84% and on diesel to 18.44%. On the hike, CM Siddaramaiah said that despite the hike the state's taxes on fuel remained lower than most South Indian states and similar economy-sized states.