Govt. working to complete new EITI report before deadline - Minister Bharrat says

Govt. working to complete new EITI report before deadline – Minister Bharrat says

Nov 21, 2023 News

Kaieteur News – Minister of Natural Resources Vickram Bharrat has assured that Guyana’s 2021 Extractive Industries Transparency Initiative (EITI) report will be submitted on time to avoid a repeat of the country’s suspension from the body.

Minister of Natural Resources, Vickram Bharrat

The Extractive Industries Transparency Initiative (EITI) is a global standard to promote open and accountable management of natural resources. It seeks to strengthen government and company systems, include civil society participation, inform public debates, and enhance trust. In each implementing country, it is supported by a Multi-Stakeholder Steering Group (MSG), which comprises government agencies, extractive companies, and civil society organisations working together.

The EITI Board had temporarily suspended Guyana on 1 February 2023 for failing to publish its 2020 EITI Report. The body lifted the suspension on Guyana in July 2023, saying that its board was satisfied that the outstanding EITI Report was published within ahead of the deadline.

During a press conference last week, Minister Bharrat explained, “As you are aware, we are tasked this year with producing two reports. Unfortunately, we were temporarily suspended because our last, the 2020 report wasn’t submitted by the 31^st December 2022, however…we are well on our way to ensuring that our next report is submitted before the 31^stof December this year when it is due.”

He said he is happy with the progress so far and committed that the Ministry will meet this year’s deadline and avoid “any other issue for the country”. The EITI Board approved Guyana’s application to join the EITI at its meeting in Manila on 25 October, 2017.

EITI sets out to promote an understanding of natural resource management, strengthen public and corporate governance and accountability, and provide the data to inform policymaking and multi-stakeholder dialogue in the extractive sector. By becoming a member of the Extractive Industries Transparency Initiative (EITI), countries commit to disclose information along the extractive industry value chain – from how extraction rights are awarded, to how revenues make their way through government and how they benefit the public.

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EITI, Minister of Natural Resources, Report, suspension, Vickram Bharrat

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