BERNAMA – ALTERNATIVE PRIVATE FINANCING TO ENSURE SUSTAINABLE DEVELOPMENT IN THE WATER SECTOR

KUALA LUMPUR, July 16 (Bernama) — The Government intends to introduce alternative private financing to ensure the financial sustainability of water sector programmes, thereby reducing reliance on government spending and strengthening resilience, said Deputy Prime Minister Datuk Seri Fadillah Yusof.

Fadillah, who also serves as Minister of Energy and Water Transformation, said private sector involvement is critical to realizing the significant investments required by the Water Sector Transformation Plan to ensure water security.

He said it is imperative that public and private sector efforts be united to implement sustainable water management practices by leveraging technological advances, upgrading ageing infrastructure and promoting responsible consumption, which are key steps to ensure responsible and sustainable management of our water resources.

“It is our collective responsibility to ensure universal access to clean and safe water, regardless of background or circumstances, as water security is the foundation for justice, prosperity and hope for a brighter future,” he said in his opening speech at the Water Malaysia Specialised Conference and Exhibition 2024.

Organised by the Malaysian Water Association (MWA), the event provides a platform for officials and stakeholders from all water sub-sectors to discuss key issues for a more holistic transformation of water management by 2040.

In his inaugural speech, Fadillah also reiterated the strategic goals of the transformation plan, including increasing clean water and sanitation coverage in rural areas by 98 percent and reducing non-revenue water to 31 percent by 2025.

He added that the Ministry of Energy and Water Transformation (Petra) will advocate for the integration of cutting-edge technologies and solid infrastructure to transform the water sector ecosystem.

“As we support Malaysia’s efforts towards IR 4.0, I am optimistic about our country’s ability to adopt advanced technologies to strengthen our water management capabilities,” he said.

To fully realize the potential of sustainable water management, Fadillah said Petra will also develop a centralized water data and information center that will provide a reliable source of data critical to calculating the country’s virtual water footprint and compiling a water footprint inventory across all economic sectors.

“As such, data-driven decision-making, research and development, and public-private collaboration will be key to driving our transformation agenda to drive innovation and inclusiveness,” he said.

Fadillah expressed confidence that by prioritising sustainability, financial resilience and a holistic approach, the Water Transformation Plan can pave the way for a prosperous and secure future for Malaysia, with the water sector acting as an economic driver and growth engine.

In April, Fadillah announced that Petra, in collaboration with the National Water Services Commission (SPAN), was ready to develop a plan to implement transformative measures in the water services sector.

— BERNAMA