His comments are in response to Tuesday’s announcement by Federal Water Minister Penny Wong that $300 million would be brought forward to buy more water in the Murray Darling Basin.

"We don’t want to appear ungrateful or against this advanced buy-back but acquiring water is only half the problem," Mr Pederick said.

"Archaic water transfer and irrigation practices in NSW and Victoria diminish the real value of water purchased for the river.

"It’s like stuffing money into pockets that have holes in them."

Mr Pederick called on the Federal Government to accelerate its actions to improve water infrastructure.

"Without that, some of the buy-back money spent will go where the water goes – down the gurgler or into thin air," he said.