In early 1996, the Privatization Committee for
the Water & Electricity Sector (PCWES) was
formed. In addition to restructuring the industry,
the Privatization of the Water & Electricity
Sector of Abu Dhabi was to accomplish the following
principle goals and objectives:
- To
provide secure, safe, and reliable supplies
of water and electricity;
- To
recover lost economic efficiencies;
- To
improve customer services and reduce costs
to consumers;
- To
encourage private sector investment;
- To
develop employment opportunities for UAE
nationals; and
- To
maximize returns from the sale of existing
government owned assets.
The
Privatization Committee’s activities
involved the extensive use of consultants
to prepare recommendations for the restructuring
of the existing sector, formulate plans for
the implementation of the privatization activities,
and recommend legislation to accomplish the
legal aspects of the privatization of the
sector.
Following
nearly two years of effort by the Privatization
Committee, the Government of the Emirate of
Abu Dhabi approved legislation (Law No. 2
of 1998), establishing the Abu Dhabi Water
& Electricity Authority (ADWEA). By virtue
of an Emiri Decree issued at the same time,
the Board of Management of ADWEA was formed
under the chairmanship of H.H. Sheikh Diab
bin Zayed Al Nahyan.
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