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.
|
