Industry prepares fiscal report

THE Papua New Guinea Extractive Industry Transparency Initiative (PNGEITI) is developing its 2018 fiscal year report which will highlight various revenue payments made to the government from the mining, oil and gas sector.
PNGEITI national secretariat head Lucas Alkan made the announcement this week saying the PNGEITI multi-stakeholder group was working with the Independent Administrator to compile a comprehensive report.
“As part of the process to collect information from the EITI reporting entities, the auditor Ernst and Young (EY) has sent out data reporting templates, and are compiling appropriate background information and reconciliation parts of the report,” he said.
Alkan said the 2018 report sought to address some of the recommendations and issues that were highlighted from the 2017 report.
“We’re continuously improving the reports and addressing the various recommendations and issues that had risen from the previous reports including the latest 2017 report,” he said.