Guyana on track to submit first EITI report

Jun 01, 2018 News

The Guyana Extractive Industries Transparency Initiative (GYEITI) is preparing to submit its first report since becoming a candidate member to the global standard for good governance in the extractive sectors.
GYEITI’s National Coordinator Dr. Rudy Jadoopat, told the Department of Public Information that the final draft of the progress report has to be reviewed by the Multi-stakeholder Group (MSG) before submission.
The report has to be submitted to the EITI Secretariat by July 1.
“I feel very confident not only in my ability to manage the process but my vision,” Dr Jadoopat said.
Guyana’s first annual progress report will detail efforts leading up to becoming a member of EITI up until December 2017, Dr. Jadoopat explained. The report also outlines challenges and recommendations by the GYEITI.

National Coordinator of GYEITI, Dr. Rudy Jadoopat

The progress report will be published to the GYEITI’s website, https://gyeiti.org/, following its submission.
Meanwhile, the GYEITI is in the final stages of hiring an independent administrator to compile the country’s reconciliation report. This report is due 18 months after a country becomes a member of the EITI.
Dr. Jadoopat explained the GYEITI has completed the bid process and is in the final stages of selecting the company that will conduct the audit for the report. Five bids were submitted to the National Procurement and Tender Board, three of which met the requirements. A final selection is expected to be made in the next three weeks.
The independent administrator will have to prepare an inception report, carry out scoping and gathering information on the extractive sectors from related government agencies as part of its work.
“We already had some meetings with the government agencies. Our secretariat is moving ahead with the process we’ve been collecting information and data”, Dr. Jadoopat added.
The reconciliation report will include information on operations and procedures of Guyana’s mining, forestry and oil and gas sectors. This report has to be submitted by April 2019.
These reports are critical to advancing transparency in the extractive sectors. “Greater transparency and accountability would benefit everyone. The desire is to have anti-corruption mechanisms in place and transparency and accountability mechanisms assist in that process,” Dr. Jadoopat further noted.

Discover more from Kaieteur News

Subscribe to get the latest posts sent to your email.

Latest News