PNGEITI report backs State’s initiative

THE PNG Extractive Industries Transparency Initiative Country Report supports the Government’s initiative to attract investors by providing an open and accountable environment for them in the mining and Petroleum Sector.
Head of the PNGEITI national secretariat Lucas Alkan, pictured, told the PNG Mining and Petroleum Conference and Exhibition in Sydney, Australia that it was a standard the Government was applying.
The report outlines taxation and legislation requirements to investors.
“This is part of a global standard that Papua New Guinea is applying to investors in the country,” Alkan said.
“The PNGEITI focuses on open and accountable reporting of revenue from the PNG Mining and Petroleum sector.”
He said he was there to present the work of the PNGEITI and the standards of the EITI, the findings and data from the report and to show the commitment of the PNG Government to the global standard.
“We have highlighted the progress of the PNGEITI multi-stakeholder group on the 2013 report recommendations and are looking forward to the results of the 2014 report,” Alkan said.