FINANCE Minister Colm Imbert says it is time for the people of TT to pay a "realistic price for water."
He was speaking on Thursday night at the PNM virtual post-budget meet-up. "We have decided the time has come to deal with water rates and electricity rates," he announced.
He said TT has the lowest water rate in the hemisphere and is likely close to the lowest in the world. He reported his own water bill was $75 per month and he suspects his bill could be one of the highest in the country.
Imbert explained that Government has to subsidise the Water and Sewerage Authority (WASA) to the tune of $2 billion every year and has to pay over $500 million a year for water from Desalcott, thanks to a "disastrous arrangement" made by a previous UNC administration.
"We have to make decisions in a very difficult situation.
"I don't think (a higher rate) will be onerous on the population. We are always looking out for the people on the bottom."
He noted the example of the 25 per cent rebate provided a couple of years ago for people whose electricity bills are $300 a month or less.
Imbert did not provide details on when the water rate would be raised or by how much.