National program to optimize water, energy consumption

The Kingdom will optimize water and energy consumption with a new national program approved by the Cabinet on Monday.

The new program will review policy incentives currently in place for the energy and water sectors, taking into account both economic productivity needs and inequality within society.

As part of the reform drive, Saudi Arabia aims to reduce electricity and water subsidies by SR200 billion ($53 billion) and reduce non-oil subsidies by 20 percent by 2020.

It introduced its first subsidy cuts for power and water in December.
In May, the ministries responsible for handling water and energy policies were restructured.

The old Water and Electricity Ministry was disbanded and the responsibility for electricity was handed over to a new Energy, Industry and Natural Resources Ministry headed by Khaled Al-Falih, chairman of Saudi Aramco.

The water portfolio was incorporated into a new Environment, Water and Agriculture Ministry.

Another milestone decision of the Cabinet on Monday was the approval of plans to turn state-owned sports clubs into private companies, part of a drive to promote physical exercise.

The Cabinet endorsed the privatization of state-owned soccer clubs in the Saudi Professional League and directed the General Sports Authority to facilitate licensing and legal procedures.

Last week, the Council of Economic and Development Affairs (CEDA) directed the sports authority to launch a fund to provide loans and other support for private sports clubs in the Kingdom. It said the fund would create 40,000 jobs.

These measures fit into wide-ranging reform plans led by Deputy Crown Prince Muhammad Bin Salman, second deputy premier and minister of defense, to diversify the Kingdom’s economy away from oil, cultivate better leisure offerings and encourage Saudis to lead healthier lifestyles.

The General Sports Authority created a new women’s division this summer.
Vice President of Women’s Affairs of the General Authority of Sports Princess Reema Bint Bandar Bin Sultan said on the sidelines of the just concluded MiSK Global Forum in Riyadh that the sports sector for women has the potential to create 250,000 jobs.

The General Authority of Sports seeks to work with entrepreneurs and unlock many sectors in sports, including manufacturing, retail, tourism, the repair industry, sports journalism and more.