Custodian of the Two Holy Mosques King Fahd bin Abdulaziz today chaired the regular weekly meeting of the Council of Ministers, which assigned the Higher Economic Council (HEC) the task of overseeing the process of privatization in the Kingdom. HEC's new duties include supervision of implementation of privatization, coordination with other government bodies on what is needed, and formulation of a strategic plan and timetable to achieve this end. HEC is also assigned to delineate the parameters for the privatization of any organization, and to approve the executive program proposed by the required feasibility studies in order to complete the process in accordance with government regulations.
King Fahd began the meeting by briefing the cabinet on recent messages exchanged with a number of Arab leaders within the framework of continuous consultation between Saudi Arabia and its brother countries. He expressed the Kingdom's concern to unite Arab ranks and enhance Islamic solidarity, recalling its firm position in support of Arab and Islamic causes, notably that of the Palestinians, which should be viewed according to the United Nations resolutions and the relevant agreements towards establishing an independent Palestinian state with Al-Quds [Jerusalem] as its capital, together with the Palestinians' right to return to their homes and cities. King Fahd stressed the importance of continuing the coordination and exchange of views among the Arab leaders in order to confront the challenges currently facing the Arab world, vowing that the Kingdom is always ready to utilize its prestigious status at Arab, Islamic and international levels for the public benefit of friendly nations and to contribute in solving problems and supporting brotherly countries in their positive endeavors.
The cabinet then passed a number of resolutions, including endorsement of a decision taken by the Consultative Council (Majlis Al-Shura) to add or amend a number of regulations with regard to the Kingdom's participation in international conferences and to devise the necessary mechanisms for this; and approval of sample forms for contracts for consulting engineering services.