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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