Govt. seeks Independent Administrator to prepare Guyana’s second EITI Report

Sep 16, 2019 News

---

 

The coalition administration is seeking the services of an Independent Administrator to prepare Guyana’s second report, to be submitted to the Extractive Industries Transparency Initiative (EITI).
According to the tender that was issued, the consultancy firm would be required to prepare a gap analysis, review all relevant legislation for conformance to EITI standards and make recommendations for any possible changes, as well as identify actions to be taken to address the recommendations from the first EITI Report for the fiscal year 2017.
With respect to the gap analysis, the Government wants the selected consultant to review the Scoping Study conducted for GY-EITI’s first report and conduct a gap analysis to investigate and identify what are the likely gaps, shortfalls and issues of the scoping study and identify options, solutions and recommendations for an appropriate reporting methodology for consideration by the multi-stakeholder group in order to meet the requirement of the EITI Standard.
It was noted that the gap analysis sets the basis for producing a timely and comprehensive EITI Report. Further, the tender stated that it is also an opportunity for the Multi-Stakeholder Group (MSG) which consists of industry, government and civil society representatives to consider the feasibility of extending the scope of EITI reporting beyond the minimum requirements in order to address the objectives outlined in the GYEITI work plan.

Kaieteur News understands that the gap analysis involves looking at issues such as the fiscal period to be reported; the comprehensiveness of the payments and revenues to be covered for oil, gas, fisheries, forestry, quarrying, bauxite and mining; the comprehensiveness of the companies and government entities that are required to report as defined by the MSG and in accordance with the EITI Requirement 4.1; Supporting the MSG with examining the audit and assurance procedures in companies and government entities participating in the EITI reporting process; and examining the MSG’s work plan in order to gain a clear understanding of the objectives and scope of Guyana’s EITI implementation.
Furthermore, the EITI Standard requires the disclosure of information about the management of the extractive industries in line with the extractive industry value chain.
With this in mind, the government wants the Independent Administrator to examine Guyana’s policy and practices on disclosure of contracts and licenses that govern the exploration and exploitation of oil, gas and minerals and any reforms underway; the identity of the beneficial owners of companies that bid for, operate or invest in extractive assets in Guyana (EITI Requirement 2.5); and where applicable, information about the role of State-Owned Enterprises (SOE) in the extractive sector and the financial relationships between the government and the SOE.
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. Dr. 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 said 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 said 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. Dr. Jadoopat said it is expected that this will continue. He added that the government, as stipulated in the International EITI Standard 1.4, has committed to working with Civil Society and Companies.
“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 participation in the EITI processes. It agreed to refrain from actions which may result in narrowing of, or restricting of public debate in relation to the EITI implementation.”
Dr. Jadoopat also took the opportunity to encourage all to consider it their civilian duty to actively participate in the activities and work of the Guyana-EITI.

---

---