Latest update November 16th, 2024 1:00 AM
Latest News
- AFC’s leader, Hughes promises to prioritize country’s interest above Exxon’s as law firm remains on company’s payroll
- Norton not opposed to referendum on renegotiation of oil contract
- Israel ramps up attacks on Lebanon as officials study US ceasefire plan
- Broken sluice door causes flooding in five WCB communities
- Miner dies after pit caves in at Issano Backdam
Guyana EITI Secretariat will be fully operational in 2018 – Natural Resources Minister
The Secretariat for the Guyana Extractive Industries Transparency Initiative (EITIT) is expected to be fully operationalised this year. This was confirmed recently by Natural Resources Minister, Raphael Trotman.
Natural Resources Minister, Raphael Trotman
The Minister reminded that Guyana’s candidature application was submitted in August 2017 and the nation was accepted to be part of the EITI fold. Now that Guyana has become a candidate country, Trotman said that implementation of the 2017-2018 work plan can begin.
The Leader of the Alliance For Change (AFC) said that the work plan includes activities such as the review of the legal and regulatory framework for the extractive industries, stakeholder engagement, public debates and communications.
Trotman also noted that moves are already being made regarding the confirmation of the terms of reference for the hiring of the independent administrator for the compiling and submission of Guyana’s first report. This document is due in April 2019.
GUYANA/ EITI HISTORY
EITI is an international body that was established in 2003 with the aim of making it harder for governments and companies to hide the truth about the proceeds garnered from the extractive industries.
The companies in the extractive sector report on what they are paying the government and the government reports separately on what it received from the companies in the sector.
A report is then prepared by a Multi-Stakeholder Group. The document, among other things, will highlight whether the numbers data collected from the two add up or if there is an irregularity.
Head of the local EITI Chapter, Mr. Rudy Jadoopat explained that Guyana must be praised for its efforts in recent years, which were all geared towards satisfying the EITI candidate sign-up requirements.
The official noted that the Government of Guyana had announced its commitment to implement the EITI Standards since May 2010. He noted that Guyana and EITI even signed a Memorandum of Understanding in 2012, which paved the way for Guyana to be assisted with its preparation of EITI candidacy.
He noted that the Inter-American Development Bank (IDB), the World Bank and the Carter Center provided assistance to the Government and supported its efforts towards EITI candidacy. Jadoopat said it is expected that this will continue.
Jadoopat added that the government, as stipulated in the International EITI Standard 1.4, has committed to working with Civil Society and Companies.
He said, “It has unequivocally and boldly announced its commitment to work with civil society and companies. Also, the government has agreed to ensure that there are no obstacles to civil society’s participation in the EITI processes. It agreed to refrain from actions which may result in narrowing of, or restricting public debate in relation to the EITI implementation.”
Furthermore, Jadoopat took the opportunity to encourage all to consider it their civilian duty to actively participate in the activities and work of the GYEITI.
Similar Articles
THE BLUNT OF THE DAY
Sports
Features/Columnists
Where is the talent in the PPP?
…Peeping Tom Kaieteur News- The People’s Progressive Party (PPP) and its exuberant General Secretary, Bharrat... more
Rising Gun Crimes in the Caribbean: Urgent Action required by all
By Sir Ronald Sanders Kaieteur News – There is an alarming surge in gun-related violence, particularly among younger... more
Weekend Cartoon
