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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