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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