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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