المملكة: "Shura" It calls for stimulating the activity of selling electricity wholesale.. Here are the details of the decisions
Hold The Energy and Industry Committee, which was read by the Council Member and Chairman of the Committee, Dr. Osama Arif, regarding the members’ observations and opinions that they expressed in a previous session regarding what was included in the annual report of the Saudi Electricity Regulatory Authority for the fiscal year 1446/1447 AH.
Saudi Electricity Regulatory Authority
In its decision, the Council called on the Saudi Electricity Regulatory Authority to stimulate wholesale electricity sales activity. In its decision, the Council also called on the Authority to follow up on the commitment of vital and sensitive government facilities; By providing a backup source of electrical energy, as determined by the competent authorities.
In its decision, the Council called on the Authority to coordinate with the relevant authorities; In order to study the development of external designs for electrical transmission and distribution substations within neighborhoods; Taking into account the improvement of the visual scene.
The Council issued another resolution during this session regarding the contents of the annual report of the Saudi Press Agency for the fiscal year 1446/1447 AH, in which it called on the agency to study cooperation with its partners from Arab and international agencies; To create an exchange and broadcast platform for documentaries that enhance cooperation between countries and understanding between peoples.
The Council took its decision after listening to the point of view of the Information Committee, which was read by the Council member and Chairman of the Committee, Dr. Fahd Al-Tayyash, regarding the members’ observations and opinions that they expressed in a previous session regarding what was included in the annual report of the Saudi Press Agency.
Privatization of the Official Gazette
In its decision, the Council asked the Saudi Press Agency to study the feasibility of continuing existing offices compared to activating the role of the specialized correspondent; To maximize field impact and ensure operational production efficiency.
In the same resolution, the Council called on the agency to cooperate with the relevant authorities. To study the privatization of the official newspaper (Umm Al-Qura) and transform it into a government company while unifying the means of publishing government advertisements in the newspaper; To enable it to directly enhance its revenues.
The Council issued another decision during the session, in which it requested the King Abdulaziz Foundation to prepare an executive plan to activate its updated strategy; It includes linking strategic objectives to initiatives and performance indicators.
The Council took its decision after listening to the point of view of the Culture, Sports and Tourism Committee, which was read by Council member and Chairman of the Committee, Dr. Hassan Al-Hazmi, regarding the members’ observations and opinions that they expressed in a previous session regarding what was included in the annual report of the King Abdulaziz Administration for the fiscal year 1446/1447 AH.
In its decision, the Council requested the King Abdulaziz Administration to intensify Publishing and making the Saudi historical inventory available at the international level through multiple channels and platforms; To enhance knowledge of the history of the Kingdom globally.
Activating scientific awards programs
In its decision, the Council called on the Department to reactivate scientific awards programs in the field of Saudi history and heritage according to an updated framework that enhances their attractiveness and achieves their sustainability.
In the same context, the Council issued a decision during this session in which it called on the Horse Racing Club to build strategic partnerships that contribute to raising the value of local racing awards and enhancing the level of competitiveness of local production horses.
The Council took its decision. After listening to the point of view of the Culture, Sports and Tourism Committee, which was read by the Council member and Chairman of the Committee, regarding the members’ observations and opinions that they expressed in a previous session regarding what was included in the annual report of the Horse Racing Club for the fiscal year 1446/1447 AH.
In its decision, the Council called on the Horse Racing Club to coordinate with the relevant authorities; To improve the quality of television transmission; In order to increase the number of views of the local and international tournaments held by the Kingdom.
Horse Racing Club
In the same resolution, the Council called on the Horse Racing Club to strengthen preventive care programs and periodic examinations for horses participating in races and activities held by the club inside the Kingdom.
The Council issued another resolution regarding what was included in the annual report of the National Center of Meteorology for the fiscal year 1446/1447 AH, in which it called on the National Center of Meteorology to adopt Hybrid systems that combine artificial intelligence and traditional methods to predict weather, climate changes, and weather phenomena.
The Council took its decision after listening to the point of view of the Water, Agriculture and Environment Committee, which was read by Council member and Chairman of the Committee, Dr. Khaled Zubair, regarding the members’ observations and opinions that they expressed in a previous session regarding what was included in the annual report of the National Center of Meteorology.
In its decision, the Council asked the National Center of Meteorology to continue its efforts to establish a training center It is concerned with developing skills in the fields of weather and climate.
National Center of Meteorology
In its decision, the Council called on the Center to study the application of the income-sharing model with the private sector; In a way that reduces dependence on the budget and achieves the financial sustainability of the center.
In the same context, the Council issued another resolution regarding the contents of the annual report of the Saudi Geological Survey for the fiscal year 1446/1447 AH, in which it called on the Saudi Geological Survey to coordinate with the relevant authorities; To benefit from the results of explorations related to strategic minerals and rare earth elements, and to transform them into investment opportunities.
The Council took its decision after listening to the point of view of the Water, Agriculture and Environment Committee, regarding the members’ observations and opinions that they expressed in a previous session regarding what was included in the annual report of the Saudi Geological Survey.
In its decision, the Council called on the Authority to coordinate with the relevant authorities; To support emerging companies in the fields of applying digital technologies and artificial intelligence in geological exploration through business incubators and accelerators.
Saudi Geological Survey
In the same resolution, the Council called on the Saudi Geological Survey to measure the efficiency of mining exploratory spending in the Kingdom, compare it with global practices, and link the growth of spending to geological and investment return indicators.
In the context of the Council’s decisions during this session, the Council issued a decision regarding what was included in the Saudi Post Corporation’s annual report for the fiscal year. 1446/1447 AH, in which he called on the institution to coordinate with the relevant authorities; To develop an updated database for the postal and logistics sector, and update its publishing policies.
The Council took its decision after hearing a response from the Council member and Chairman of the Transport, Communications and Information Technology Committee, Dr. Issa Al-Otaibi, regarding the opinions and observations expressed by Council members regarding what was included in the annual report of the Saudi Postal Corporation after it was put up for discussion during this session.
In its decision, the Council called on the Saudi Postal Corporation to coordinate with the relevant authorities; To expand commercial franchise models and benefit from the capabilities provided by the privatization system.
In its decision, the Council also called on the Corporation to coordinate with the General Authority for Transport; To set standards to measure the quality of postal and logistical services, and work to improve them and raise their reliability.
Capital Market Authority
Among the topics listed for discussion on the agenda of this session, the Council discussed the annual report of the Capital Market Authority for the fiscal year 1446/1447 AH, after listening to a report submitted by the Financial and Economic Committee, followed by the Council member and Chairman of the Committee, His Excellency Dr. Fahd Al-Takhaifi, regarding what was included in the Authority’s annual report.
And after presenting the Committee’s report. For discussion, the members of the Council expressed a number of observations and opinions regarding what was included in the annual report of the Capital Market Authority. Member of the Shura Council, Abdullah Al Tawi, praised the supervisory and regulatory efforts of the Capital Market Authority, calling for the establishment of a mechanism in which the Authority cooperates with some entities and external auditors to track the financial lists of companies to protect stakeholders in advance and suspend the trading of companies whose data the legal auditor has reservations about. For his part, Member of the Shura Council, Engineer Khaled Al-Buraik, called on the Capital Market Authority to conduct an effectiveness study. Current regulatory and supervisory tools for determining the offering price of companies.
In turn, member of the Shura Council, Dr. Faisal Al Bowardi, called on the Authority to strengthen the procedures for evaluating the listing of joint stock companies, monitoring the financial lists and disclosures before listing, and subsequent follow-up of the performance of listed companies, in a way that supports transparency, protects investors, and reduces risks.
Stimulating institutional investment
In his intervention on the report, Shura Council member Khaled Al-Saif pointed out the importance of working to increase the depth of the market, expand the investor base, and stimulate long-term institutional investment. term; In a way that contributes to enhancing pricing efficiency and achieving greater fairness among listed companies.
In turn, member of the Shura Council, Dr. Muhammad Al-Suhaibani, called on the Capital Market Authority to study the expansion of granting permits to experiment with financial technology for market models and specialized trading platforms that serve financing supply chains and discovering prices of basic commodities, while setting a clear path for converting them to licensed financial markets.
For his part, member of the Shura Council, Abdullah Al-Hussein, called on the Authority to conduct a periodic review of the methodologies for evaluating and pricing proposals. Initial analysis, and analysis of the gap between the offering prices and the subsequent performance of the shares after listing, to enhance transparency, raise the level of investor protection, and increase confidence in the financial market in the long term.
At the end of the discussion, the committee asked to be given more time to study the opinions and proposals put forward by the members and to return its point of view to the Council in a later session. To listen to a report submitted by the Islamic and Judicial Affairs Committee, followed by the Council member and Chairman of the Committee, Dr. Assem Madkhali, regarding what was included in the Ministry’s annual report.
After the committee’s report was put up for discussion, the Council members expressed a number of observations and opinions regarding what was included in the annual report of the Ministry of Islamic Affairs, Call and Guidance, where Shura Council member Dr. Hassan Al-Hazmi pointed out the importance of the Ministry of Islamic Affairs, Call and Guidance working to improve the contracts for national plan jobs in the Ministry with features that ensure the stability of recruited cadres. The qualified human beings for these tasks were carefully chosen by the Ministry.
At the end of the discussion, the committee asked to be given more time to study the opinions, proposals or additional recommendations put forward by the members and to return its point of view to the council in a later session.
Among the topics listed for discussion on the agenda of this session, the council discussed the annual report of the General Authority for Roads for the fiscal year 1446/1447 AH, after listening to a report submitted by the Committee on Transport, Communications and Information Technology, followed by the council member, head of the committee. Dr. Issa Al-Otaibi, regarding what was included in the Authority’s annual report.
After putting the committee’s report up for discussion, the members of the Council expressed a number of observations and opinions regarding what was included in the annual report of the General Authority for Roads. Member of the Shura Council, Dr. Abdullah Al-Najjar, called on the General Authority for Roads to develop a project risk management system based on early warning indicators and data analysis to predict projects at risk of failure before they occur.
Qualification of traffic and road engineers
For his part, he demanded Member of the Shura Council, Major General Mansour Al-Turki, the Authority is coordinating with universities to provide specialized training programs aimed at qualifying traffic, road, and transportation engineers in all entities concerned with implementing and operating roads, to apply the Saudi road code efficiently in performing their tasks.
In turn, member of the Shura Council, Dr. Ali Al-Ghabban, called on the Authority to complete the implementation of direct roads linking the northern regions to a number of Red Sea ports, as a logistical and historical artery that serves trade, in a way that enhances the Kingdom’s position and centrality in logistics services globally.
In his intervention on the report, a member of the Shura Council, His Excellency Mr. Osama Al-Rabiah, called on the General Authority for Roads to conduct studies to create investment opportunities on the roads and diversify sources of income to achieve financial sustainability and raise the efficiency of spending, as well as raise the level of safety on the roads by reducing the death rate on the roads through the installation of lighting poles on the highways linking the regions.
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