Business

MWSC Cuts Back on Operational Costs by MVR 297.9 Million!

Male’ Water and Sewerage Company (MWSC) reports the company has cut back on operational costs of 2020 by 14 per cent in comparison with the previous year. MWSC accounts they have decreased the cost by MVR 297.9 million in 2020; while they had allocated MVR MVR 838.9 million for administrative quota, they only used MVR 541 million.

MWSC cites measures taken to cut costs during the COVID-19 pandemic as the main reason for the drastic decrease.

Detailing on the costs, the company claims Engineering, Manufacturing, Water and Sewerage facilities, and Business sectors included costs MVR 177.4 on the first quarter. During the second quarter, the company quotes MVR 130.7 million being spent, MVR 163.5 million during the third quarter, and MVR 94.8 million spent in the last quarter.

Additionally, in comparison with the 2019 Engineering costs, 2020 Engineering costs were reduced by six per cent, Manufacturing costs reduced by 14 per cent, business costs reduced by 16 per cent, and water and sewerage costs were reduced by 15 per cent.

MWSC further explains under the cost reduction measures of the company and to support measures proposed by the government to bounce back from the pandemic, MWSC conducted various activities under its social responsibility philosophy.

Some of these activities include providing water and sewerage services to COVID facilities, installing hand wash basins in areas most people gather and aiding citizens facing difficulties during the pandemic by supplying water.

MWSC also states that under their Corporate Social Responsibility programs, a total of MVR 4.5 million was spent last year. The company also worked on achieving its corporate objectives last year, one of which is to continuously supply safe drinking water and establishing a working sewerage network for citizens.

Full details are available at the link below:

Source URL: Corporate Maldives

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