Abu Dhabi has set up a committee to oversee state-owned firms and plans a debt management office to focus on debt issued by government or government-related entities, the Financial Times reported on Tuesday.

The committee, to be headed by Hamad Al-Hurr Al-Suwaidi, undersecretary at the department of finance, will be charged with ensuring the companies have a 'uniform reporting culture and acceptable returns', the newspaper said.

The body will not oversee the activities of Abu Dhabi's sovereign investment vehicles, but will look at companies including the emirate's Tourism Development & Investment Company (TDIC) and Etihad Airways, according to the FT.

The debt management office will oversee and co-ordinate debt issued by government or government-related entities, the newspaper said.

An Abu Dhabi official at the finance department declined to comment. - Reuters