MRA initiates PIP funds audit

 THE Mineral Resources Authority (MRA) has initiated an eternal audit of its management and disbursement of Public Investment Programme (PIP) funds for mining projects in the country.

PIP funds are money allocated by the National Government for various mining projects under the memorandum of agreements (MoAs). 

The money is allocated through the annual general budget allocation.

Under the MRA Act 2005, MRA is tasked to administer PIP funds for development projects such as classrooms and health centres in mining impacted areas in the country. 

The MRA’s initiative is to ensure transparency and accountability in the way the authority “itself” has spent these funds from 2008-12.

To begin the exercise, it (MRA) has put out public advertisements in the print media for bids from auditors to carry out the audit.

The audit will cover all PIP projects in all the eight mining projects in the country, namely Sinivit, Ok Tedi, Porgera, Lihir, Ramu, Hidden Valley, Tolukuma and Simberi.

MRA’s acting managing director Philip Samar said the initiative also fitted in very well with the National Government’s overall objectives on transparency and good governance.

Samar said the findings and recommendations of the audit would be presented to the National Planning and Monitoring Department, which is the agency responsible for the planning and use of these funds on behalf of the National Government.