More info on industry

 THE people of PNG can access information on the extractive industries in the country when the first country report is launched this month, an official says.

Papua New Guinea Extractive Industries Transparency Initiative country manager Lucas Alkan said the report on the extractive industries was being finalised.

“The report will be approved for publication in preparation for the launching February 19,” he said.

Alkan said having access to vital information in the extractive industry was important to promote transparency, accountability and good governance in the extractive industries.

“The public will have access to financial and other vital information on how exactly their resources are developed and managed by the developers and the Government.

“Currently, the resource owners and the public do not have access to vital information on the developer and the operations of the extractive industries.

“And as such they do not know exactly how their resources are developed and managed because of the lack of vital information available” Alkan said.

He said the initiative was established in 2013 by the National Executive Council to promote transparency, accountability and good governance in the extractive industries.

“It is an initiative recommended by key international organisations including the World Bank, Asian Development Bank and the International Monetary Fund to establish EITI secretariat in resource-rich countries.”