Move for talks on petroleum, mining legislation welcomed

THE government’s move to open more discussions on the review of petroleum and mining legislations has been welcomed.
The Institute of National Affairs (INA) director Paul Barker, pictured, made this comment following Petroleum Minister Kerenga Kua’s call for more discussions on how to improve revenue streams in the sector.
Kua told The National last week that said he would set up a team and with Cabinet’s endorsement, to create discussion and dialogue on the laws surrounding the petroleum with the aim to improve the revenue position of the country.
Barker said it was a sensible approach to bring together different groups to talk about the interests of this multi-billion kina sector.
“To raise the level of awareness, transparency over the industry and that is what the process is like, the Extractive Industries Transparency Initiative is for,” he said.
“It (Extractive Industries Transparency Initiative’s) reduces the level of suspicion, which comes when you have lots of secrets or lack of information or where some players are better informed than others.
“When all the players have a better understanding, it reduces suspicion, people then can start working more in collaboration together and actually it provides a more stable environment at the end of the day for the investors as well.”
He said this process would create more transparency.
Kua said once consultation and dialogue was competed, he aimed to have new petroleum legislation tabled in Parliament by the end of next year.