Extractive industry reps to attend Jakarta meeting

Business

A DELEGATION from Papua New Guinea will attend the Extractive Industry Transparency Initiative (PNGEITI) Beneficial Owners (BO) conference in Jakarta next week.
The conference is to discuss the disclosure of beneficial owner’s information in EITI reporting.
Beneficial owner(s) of resource projects (mine, oil and gas companies) are those who directly or indirectly own or control a corporate entity/company.
The Papua New Guinea team representing stakeholders from the multi-stakeholder group, the body that oversees EITI activities, will join more than 300 participants from the 52 EITI implementing countries.
PNGEITI head of national secretariat Lucas Alkan said the conference would be on Oct 23 and 24.
The 300 practitioners from the 52 implementing counties are expected to share best practices on collecting, publishing and using data.
The conference will have a series of small parallel workshops to focus on topics targeted at government officials who work on beneficial ownership disclosures in their countries.
Participants are expected to represent government agencies responsible for tax collection, drafting and implementing laws, establishing and maintaining company registers, regulating the petroleum and mining sectors and coordinating anti-corruption measures taken by the government are expected to attend.
“The conference will be followed with a series of regional work-shops with government representatives in all extractive industry counties to measure the progress in implementing the beneficial owner’s roadmaps and commitments made at the conference in Jakarta,” Alkan said.
“Papua New Guinea is proud to participate in this conference as we’ve got our own stories on progress made in executing our beneficial owners roadmap which will provide us the basis for beneficial owner’s information disclosure when successfully implemented.”

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