NRWB boosts profit by K224 million
Northern Region Water Board (NRWB) says it has collected about K1.1 billion in six months, making a net profit of K278 million.
This was revealed on Wednesday in Lilongwe at a meeting between the NRWB and the Parliamentary Committee on Commission, Statutory Corporations and State Enterprises through a report which the board presented.
When NRWB management, led by the chief executive officer (CEO) Titus Mtegha, presented a report to the committee, it was indicated that the K278 million profits that the board has realised is K224 million higher than what it planned to get in the first half of the 2017/2018 financial year.
Reads the report in part: ‘’NRWB’s operating profit before depreciation for the period ending December 2017 at K1.1 billion was significantly higher than the budgeted of K916 million and last year’s performance of K586 million. The board’s net profit of K278 million was much higher than the planned profit of K54 million.”
In an interview on Wednesday, Mtegha said there has been some good movements in the settlement of bills by public institutions.
However, he said public institutions and others still owe the board money.
In his remarks, the committee vice-chairperson Aboo McNice Naliwa assured the board that the committee will assist NRWB in lobbying for the payment of debts.
He said: “We have taken note of the challenges they are facing and as a committee, we will assist in any way we can.”
The committee summoned NRWB to assess how it has performed in the first half of the 2017/2018 financial year and to discuss the challenges the board is facing in its operations.
