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Saudi Arabia will raise subsidies on water and electricity because of the economic crisis

Rocky

Rocky: Admin Assist; Posts : 270664
Join date : 2012-12-21

Post n°1

Saudi Arabia will raise subsidies on water and electricity because of the economic crisis

by Rocky Wed 15 Mar 2017, 2:59 am

Saudi Arabia will raise subsidies on water and electricity because of the economic crisis

15/03/2017 10:34 | Number of Views: 1 font size: Decrease font Enlarge font
Saudi Arabia will raise subsidies on water and electricity because of the economic crisis
Direction Press / Agencies
A new report prepared by the Economic Company "Ernst Young," that the Saudi government intends to privatize the electricity and water sectors after the lifting of support from them before 2020.
The report pointed out that Riyadh plans to cut subsidies on electricity and water, about a hundred and seventy billion riyals in 2020, after Saudi Arabia announced the withdrawal of support will be the new phase that her address in the shadow of the economic crisis are experiencing.
"Ernst Young" report, adding that there are other plans for the separation of the Saudi Electricity Company, which is dominated by the government, leading to the privatization in the end. He said he will be tendered in 2018 to generate 300 megawatts to increase the size of the solar power generated in the Kingdom, followed by other tenders in the following years.
The report emphasized that small and medium-sized projects in the renewable energy sector saw increased activity in the Middle East and Africa in 2016 after a long period of slowdown, where the Ministry of Energy and Industry and Mineral Wealth and Saudi Arabia has launched a number of programs.
The company said that these plans are the first signs of the beginning of the privatization of the sectors of water and electricity in the area of production now, before moving on to the field of transport and distribution. The information has confirmed that there is a tendency to privatize the water sector, which suffers from a lot of problems, and the official authorities announced the pursuit of more than 16 government entities to customize.
Saudi Arabia is suffering from great economic crises as a result of the sinking in the quagmire of the war in Yemen, and its involvement in proxy wars in a number of Arab countries, in addition to the drop in oil prices.

http://aletejahtv.org/permalink/155213.html

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