Clause helps extract info: Agency


PNG Extractive Industries Transparency Initiative (PNGEITI) says all projects must have a transparency and accountability clause inserted in their reports.
Stakeholder coordinator Oliver Maingu said this would enable PNGEITI in extracting information.
“We want the provincial administration to put weight on having the companies insert that as a key requirement,” he said.
Maingu said over the years, there had been too many questions on how much money was being made from these resources, how much tax was being collected, royalty payments and dividends.
He said the increasing doubts and anger from the people was due to a lack of information.
“It’s all about having the availability of information,” he said.
“And now we have heard that the government is trying to review all mine agreements to get better deals – this is where the EITI process is seen as vital because it gives clarity on transparency, accountability and good management within the extractive sector.”
Maingu explained that the body would not be duplicating roles of regulatory bodies such as Mineral Resources Authority and Conservation and Environment Protection Authority.
“Our job is to make sure that the information they have is given to us to be reported and published for general consumption,” he said.
“Our reports will talk about the raw products, how contracts are awarded and negotiated, the data and how revenue is distributed from the national government down to provincial government so it basically gives people a good understanding of the process.”
Maingu added that PNGEITI would expand its scope to include forestry and fisheries.