MANILA, Philippines — The Cagayan de Oro Bulk Water Inc. (COBI) has welcomed the recent announcement of Cagayan de Oro Water District (COWD) to negotiate to settle its unpaid obligations and water rate dispute.
“We believe a mutually beneficial resolution through discussion is the most effective way forward that will benefit not just both parties, but most especially, the consumers,” COBI said in a statement.
COBI urged COWD to “formally engage with us through documented correspondence.”
“We also firmly believe that the Local Water Utilities Administration is the perfect facilitator for the negotiation, as it is in line with its mandate as a regulatory body,” it said.
COBI reminded COWD to update its payments, saying it would “demonstrate its good faith and commitment to a successful negotiation.”
COWD general manager Antonio Young said the water district board decided that its unpaid obligations to COBI must be resolved through arbitration.
The claims reportedly amounted to around P479 million.