EITI plans launched

The PNG Extractive Industry Transparency Initiative (EITI) has launched its 2015 and 2016 Report on the revenues sourced from the mining, oil and energy sector.

The launching is regarded as a highlight for PNG as the country moves towards being validated as an EITI compliant member.

The reports were launched by Deputy Prime Minister, Charles Abel.

The 2015 and 2016 PNG EITI Reports are the third and fourth reports to be produced under the NG EITI Secretariat.

Secretariat Head, Lucas Alkan, said this was an achievement in itself and will be a factor in PNG being awarded compliant status or not.

Vice President of the Chamber of Mines and Petroleum, Richard Kassman, says the journey to ensure resource revenues were properly accounted for started around two decades ago, and it was good to see the PNG EITI beginning that process.

Transparency International President, Lawrence Stephens, said since the first reports some of the recommendations remain.

He said it was important the recommendations of the reports were taken note of and implemented.

Deputy Prime Minister, Charles Abel, said the Government was committed to supporting the cause and pledged to continue with the PNG EITI’s progress.

The EITI process ensures PNG adheres to global best practices in the nearby sector by increasing transparency and accountability of revenues paid by companies to the national, provincial, and local level government.

Author: 
Cedric Patjole