1998 News Story

Council of Ministers Meeting

Custodian of the Two Holy Mosques King Fahd Ibn Abdul Aziz today presided over the regular weekly meeting of the Council of Ministers, and praised the achievements over the years of the Gulf Cooperation Council (GCC) in all areas, political, economic, security, intellectual, scientific and educational. King Fahd declared that the 19th GCC summit, which starts today in Abu Dhabi under the chairmanship of President of the United Arab Emirates Sheikh Zaid Ibn Sultan Al-Nahayan, constitutes a new step in the march of development, solidarity, and common destiny.

Turning to domestic issues, the cabinet expressed confidence in the positive results anticipated from its recent decision to restructure the power sector in the Kingdom. King Fahd said the aim of the decision was to reduce the cost of electricity and pave the way for the power sector to meet the country's future requirements and support the wheel of development, particularly in industry. This will contribute to the diversification of income and create new jobs for future generations. The cabinet gave assurances that the bases set up for this reorganization had the overall aim of upgrading the power sector, while reflecting concern for the interests of consumers, and securing energy to meet the requirements of comprehensive development in all vital fields.