The Istanbul Metropolitan Municipality (IBB) Council has approved a significant 25% hike in water prices, impacting both residential and commercial consumers on Wednesday.

The decision was taken during the second Extraordinary General Assembly of Istanbul Water and Sewerage Administration (ISKI), held at the municipality building in Saraçhane and chaired by the second Deputy Chairperson of the Assembly, Ömer Faruk Kalaycı.

The key agenda during the assembly was the discussion on ISKI's water sales and used water disposal tariff proposal. The proposal aimed to address various tiers of water consumption and implement a gradual price adjustment.

Under the proposed changes, residential water rates would see a considerable adjustment. In the first stage, which covers consumption levels ranging from 0 to 15 cubic meters, the current rate of TL 16.50 ($0.61) would increase to TL 20.62. In the second stage, for consumption levels beyond 15 cubic meters, the price would remain at TL 23.75. For higher consumption in the third stage, exceeding 31 cubic meters, the rate would rise from TL 29.68 to TL 32.34, ultimately reaching TL 40.42.

The proposal also included changes for commercial establishments. A gradual pricing system was suggested, with the first stage encompassing consumption of 0-40 cubic meters, where prices would surge from TL 43.23 to TL 54.03. In the second stage, for consumption exceeding 41 cubic meters, rates would increase from TL 50 to TL 62.50.

The proposal was accepted unanimously in its proposed form. The approved increase in water prices is set to come into effect after necessary approvals. This decision is expected to have a significant impact on water bills for both residents and businesses across Istanbul.