Water tariffs may go up any day now as the Bangalore Water Supply and Sewerage Board (BWSSB) on Monday prepared a report with justifications sought by the Chief Minister to allow a price hike. The BWSSB’s report, based on the need to shore up its finances, is likely to be placed before the Chief Minster soon.

According to sources, the BWSSB had held a board meeting on Monday to prepare the justification for revising the water tariff and had prepared a report to convince the CM on the need to revise waters tariffs.

According to the report, the BWSSB generated a monthly income of Rs 46-50 crore and its expenditure exceeded Rs 80 crore, which included monthly electricity charges of Rs 36 crore, establishment charges of Rs 10 crore, interest on various loans taken by the board and repayment of these loans in installments.

The water tariff was last revised in 2005 and since then, the power tariff was revised various times. Therefore, BWSSB faces a revenue deficit of Rs 30-35 crore. Unless the water tariff is revised at the earliest, the Board’s finances would be severely affected, officials said.

The BWSSB had requested the Chief Minister to allow it to revise the water tariff following which he sought a report justifying the hike.