Maynilad Water Services Inc said Wednesday it would defer a rate increase scheduled to take effect in 2021 to soften the financial blow the pandemic dealt on its subscribers, the water service provider announced Tuesday.
The increase in rates was originally approved last 2018 and was benchmarked to the consumer price index or inflation. Maynilad, in charge of Metro Manila's east zone, is controlled by businessman Manuel Pangilinan's Metro Pacific group.
Maynilad said it would forgo the increase in line with government efforts to help the public recover from the pandemic, which has left millions of Filipinos jobless.
In an advisory posted on Facebook, the company said it hopes this move could help consumers get back on their feet.