Better data reporting sought to boost transparency

By LEMACH LAVARI
Recording and keeping data on projects funded by companies is important to ensure there is no mismanagement and the public is informed, according to the PNG Extractive Industries Transparency Initiative (PNGEITI).
These relate to projects funded under the infrastructure tax credit scheme.
PNG EITI’s head of secretariat Lucas Alkan said collecting information on money spent on projects and confirming figures provided by companies with the Internal Revenue Commission and Department of National Planning and Monitoring was difficult.
He said this was because the department did not have proper data on the projects.
PNGEITI was able to compile data on only four companies in the extractive industry from their 2016 report: Barrick Niugini, Lihir Gold, Oil Search Ltd and Ok Tedi Mining Ltd.
He presented these findings at the infrastructure tax credit workshop on Wednesday in Port Moresby.
According to the report, Barrick Niugini spent K6.3 million on projects but the National Planning and Monitoring reported K12.4 million.
Oil Search spent K100 million but National Planning and Monitoring reported K82 million.
He said such differences indicate the challenge faced in trying to reconcile data collected from companies with that National Planning and Monitoring had.
He said this raised the question of how transparent the scheme was.