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LMP URGES IMMEDIATE HELP FOR WATER SECTOR

 

Hungary’s water sector is on the brink of collapse and needs an immediate bail-out, the group leader of green opposition LMP said. Malfunctions in the country’s water utility services have doubled since 2012, László Lóránt Keresztes said. Most companies in the sector need immediate funding to avoid bankruptcy and see to the maintenance and upgrade of the network, he said. “This would need funding of 1,500-3,000 billion forints (EUR 4.25-8.5bn) in the next 15 years,” Keresztes said, calling for the special tax on the water sector to be scrapped and for a government fund to be set up to “rescue” the sector. LMP has submitted a draft resolution concerning the issue to parliament, Keresztes said.