Guyana’s systems do not allow for transparent, accountable reporting on extractive sector

Guyana’s systems do not allow for transparent, accountable reporting on extractive sector – EITI

May 02, 2019 News

The preparation of Guyana’s first report for the Extractive Industries Transparency Initiative (EITI) unearthed several weaknesses in the systems of government agencies. A major finding is that those systems do not allow for the transparent and accountable collection and reporting of data on the nation’s extractive sector.

Independent Administrator, Rached Maalej

Independent Administrator, Rached Maalej, who prepared the document, noted that Guyana’s report is expected to cover a vast range of information. These include revenues collected by Government Agencies, transfers of funds, data on production, exports and register of active licences, when it is established that there is routine disclosure of the data required by the EITI Standard in requisite detail, and that the financial data is subject to credible, independent audit, applying international standards.
Maalej noted however that while Government Agencies provided several EITI data, financial data were not systematically subject to independent audits. He emphasized that this is an EITI requirement.
Additionally, the Tunisian said that contextual information on the extractive industry, data on revenues collected and budget allocation are not yet subject to electronic publication in the form of interactive open data.
In order to improve transparency and promote investment in the Guyana mining sector, Maalej noted that an online Mining Cadastre Portal is currently being developed by the Guyana Geology and Mines Commission (GGMC).
But to ensure overall transparency and compliance with the requirement of the EITI Standard, Maalej said that Government Agencies should set-up an open EITI database in the government systems by implementing and upgrading a cadastral system with adequate details such as data about the shareholders and the beneficial owners of the companies.
He said that the current management information systems of the Government Agencies involved in the GYEITI process need to be enhanced, in order to allow, among other benefits, systematic publication of EITI data required to be published in the EITI report. He listed some of the agencies that need this upgrade to be the Guyana Revenue Authority, Guyana Gold Board, National Insurance Scheme, Environmental Protection Agency, Ministry of Finance and Guyana Geology and Mines Commission.
In addition to this, Maalej said that capacity building and raising awareness of government officials on transparency and open data disclosure; and implementing /updating manual of procedures for relevant Government Agencies to put processes in place to ensure timeliness, quality of data and cost effectiveness of the systems, will also be necessary.

Discover more from Kaieteur News

Subscribe to get the latest posts sent to your email.

Latest News