The consumer debts towards the “Apa-Canal Chisinau” Stock Society overcome a lot the credit debts of the enterprise

The consumer debts of the services provided by the “Apa-Canal Chisinau” overcome the credit ones by approximately 29.5 mln lei and represent 290.7 mln lei in total. 132.4 mln lei or 43% out of that represent debts of the dwelling sector administration for the difference between the meter readings in the branching of the apartment blocks and the ones in apartments, which are not included in the final consumer bills. The debts of the enterprises in the thermo energetic sector for the billed water supply services and sewerage (CET – 1, CET – 2, and “Termocom” Stock Society) reach the sum of 91.8 mln lei. The population’s debts within years 1995 – 2007 reach 37.4 mln lei, those of the “Moldcarton” Stock Society – 24.3 mln lei, and those of other economic agents, including 3 which are bankrupt, 4.8 mln lei. According to the economic manager of the “Apa-Canal Chisinau” Stock Society, Ivan Burdila, the enterprise’s credit debts by 01.05.2007 represented 261.2 mln lei, including towards BERD – 150 mln lei or 57%. Among the short term debts, the highest figure is represented by the bank credits taken from the local commercial banks – about 52 mln lei (20% out of the bonds) and the bond of over 10 mln lei imposed by Moldova’s Ministry of Finances as a payment for the state guarantee offered when taking the credit from BERD in 1997. The other bonds are towards the suppliers of electricity, natural gas and material, employees, budgets, state guard, etc. Ivan Burdila has also stated that the reimbursement of the credit taken by the “Apa-Canal Chisinau” from BERD in 1997 has started in 2002 and 119 mln lei (out of about 268 mln lei) has been transferred up to present. The outstanding sum of about 150 mln lei is to be reimbursed until 23.10.2014 by 15 instalments, by 2 of about 10 mln lei each one every year. Concomitantly, the interest for the given credit, calculated by BERD with applying the floating interest rate onto the interbanking market in London, Great Britain, will be also paid out. The interest paid annually in 2005 and 2006 represented about 11 mln lei, and the interest paid up to date represent over 48 mln lei. According to ACC sources, urgent problems encountered by the “Apa-Canal Chisinau” are caused mainly by 3 objective factors, such as, the administration of the dwelling sector creating and not paying the difference between the meter readings in the branching of the apartment blocks and the ones in apartments, the enterprise in the thermo energetic sector and the “Moldcarton” Stock Society not paying their debts accumulated considerably between 2002 – 2005, as well as applying some rates at a loss for the services provided by the enterprise. The continuing functioning of the enterprise within this period of time has been possible due to the measures undertaken by the management of the “Apa-Canal Chisinau” and of the Chisinau City Council, the economic manager of the enterprise has stated. The measures undertaken by the enterprise’s management determined the decrease in the financial loss level, such as, the decrease in the loss of the enterprise’s own networks from 39.9 mln lei in 2002 to 31.3 mln lei in 2006; the decrease in the average number of employees per 100 km of water and sewerage networks from 91.4 people in 2001 to 84.3 people in 2006; the increase in the level of payment by consumers for the provided services from 66% in 2000 up to 100% in the subsequent years; the decrease in the electricity specific consumption when pumping out water by 19% in 2006 if compared to year 2000, as well as investing the supplementary stock issues with a total sum of 64 mln lei, bought by the only stock holder, the Chisinau City Council.