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
Committees
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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