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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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