After the treaty entered into force, basic duties initially fell significantly, from 8.6 pesos/m3 in all regions to 5 pesos/m3 in the western zone and only 2.3 pesos/m3 in the eastern zone. In the early years, dealers faced both a severe drought and the Asian financial crisis. Their debt doubled by 50% due to a rapid devaluation of its peso income, and the old debt was denominated in foreign currency.  Maynilad incurred high costs, in part because it contracted with related Suez companies without a call for tenders. It also brought in new employees from its parent company Benpres, who were inexperienced in the water supply, which caused tension and reduced the motivation of established employees. Maynilad therefore invested in the development of access to the western zone, but quickly found itself in financial difficulties due to its economic model and the heaviness of the debts inherited in foreign currency.  It slowed down its investments and completely ended the payment of the concession fee to the government in April 2001.  In order to avoid bankruptcy, the government had to provide bridge financing to the Philippine state banks. After the financial crisis, international banks were not ready to lend to Maynilad and the owners were not willing to provide more capital.  As previously noted, both concessionaires submitted offers with much lower tariffs than previous tariffs: 26% of previous tariffs in East Manila and 57% in West Manila. In West Manila, the average rate was 5 pesos/m3 for all categories of customers (base rate) and 2.3 pesos/m3 in East Manila, compared to 8.6 pesos/m3 before the concession. Tariffs remained close to this low level for five years, until the first restructuring took place in 2002, followed by further significant tariff increases, as shown in the table below.
 Manila Water`s labour productivity has increased significantly, as evidenced by a decrease in the number of employees per 1000 connections from 9.8 to only 1.4.  Prior to the award of the concessions, mwSS was, according to the Asian Development Bank, one of the most overcrowded service companies in Asia, with four times as many staff per connection as Singapore`s water supplier. During the preparation of privatization, the government significantly reduced the number of employees through measures agreed with the unions. Initially, 30% of employees retired early and used a compensation plan. In a second step, all the remaining employees were effectively dismissed and received severance pay for the sole purpose of being rehired by private companies for a trial period. Those who were not retained after parole received full early retirement. :40-41 Further improvements in labour productivity were achieved during the concession by increasing the number of routes without hiring new employees. Manila Water also modernized its employee-centric management practices, making it the first Filipino company to win the Asian Human Capital Award in 2011.  The current concession contracts signed in 1997 expired in 2022, after the Metropolitan Waterworks and Sewerage System revoked the contract renewals of the two companies until 2037, by order of the president. In December 2019, the MWSS Board of Directors revoked its earlier decision to extend the Manila Water concession contract from 2022 to 2037.
The MET Secretariat then issued a press release stating that the decision did not result in the cancellation or total termination of the contract. The MWSS Regulatory Office also issued a statement clarifying that the extension of the concession contract had not yet been cancelled. Disputes between the concessionaire and the MWSS SYSTEM are settled through an international arbitration procedure, in which a panel is established in accordance with the rules of the concession contract, the decision of which becomes binding on both parties once it has been adopted. . . .