Revenue generated for the country must translate into tangible development according to PNG agendas and goals.
Acting First Secretary Foreign Aid Division, of the Department of National Planning and Monitoring, Loia Vaira, said this during the signing of the ‘Improving Resource Related Revenue Management Project’ on Monday.
The project involves capacity building and technical assistance from the Japan International Cooperation Agency (JICA) to the PNG Extractive Industry Transparency Initiative (PNGEITI).
Speaking on behalf of Secretary Hakauha Harry, Vaira said it was important for the accountability and transparency of revenue from the extractive industry and the translation of these revenues to achieving PNG’s development agenda and overall economic development.
“The government forges strategic partnerships with our development partners to ensure that they are supporting the implementation of development plans of this country.
“With the JICA technical cooperation, this will no doubt assist to address pertinent issues on the transparency and accountability aspects of PNG’s extractive industry, strengthen capacity within the EITI secretariat, Department of Petroleum and Energy, and Department of Finance, to address the public finance management and governance issues facing this country,” Vaira said.
Picture: Loia Vaira (third from left) signing instruments for the Improving Resource Related Revenue Management Project