February 7th 2012 - 4:59PM ... Dyveke Rogan
Compliant country
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Overview of Extractive Industries The Kyrgyz Republic has substantial deposits of coal, gold, and uranium. Gold is the country's main export. Mining constitutes about 11% of budget revenues, about 10% of GDP and 40% of export earnings for the Kyrgyz Republic. Status of EITI Implementation The Kyrgyz Republic was designated EITI Compliant on 1 March 2011. The Kyrgyz Republic must be revalidated by 29 February 2016. Stakeholders in the process may request that the EITI Board requires a new EITI Validation at any time within that period if they think the process needs reviewing. The government of the Kyrgyz Republic committed to implement the EITI in 2004, and was accepted as an EITI Candidate country on 27 September 2007. The Kyrgyz Republic completed Validation in April 2010. Following a review of the Validation report, the EITI Board designated the Kyrgyz Republic, as an EITI Candidate country that is “Close to Compliant” on 20 October 2010. The Kyrgyz Republic was granted six months (until 18 April 2011) to complete the remedial actions needed to achieve compliance. In accordance with the EITI Board decision, a review of the remedial actions was prepared by the International Secretariat to supplement the Validation report. The review was considered by the Board on 1 March 2011.The Kyrgyz Republic published its 2009 EITI report in August 2011, disclosing payments and revenues from the mining industry. According to the report, the government of Kyrgyzstan collected US$ 96 mill. in taxes and other from 26 mining companies. Tax payments by these companies represent 6.8% of total government tax revenue, an increase of 64% over the previous year. According to a government resolution adopted in 2010, all extractive companies are required to report all payments to the state. Companies that meet the materiality threshold of annual revenue ≥ US1 million are subject to EITI reconciliation. Revenues from gold mining represent 85.4 % of the revenues disclosed in the 2009 report. The first EITI report was launched in October 2004, focusing on the gold mining sector for the first half of 2004. Following a period of instability, an annex to the first EITI report covering data from 2004-2007 as well as the second EITI report disclosing 2008 data were published in December 2009.At the EITI Global Conference in March 2011, the Kyrgyz Republic received the Chair’s Awards for for achieving remarkable progress in implementing the EITI despite political instability. In June 2011, the government of the Kyrgyz Republic decided to establish the ‘Fuel and Energy Sector Transparency Initiative” (FESTI), partially modeled on the EITI. FEISTI aims to increase transparency and accountability in the energy sector. Governance of EITI Implementation EITI implementation is coordinated by the Ministry of Natural Resources, and is overseen by a Supervisory Board comprised of five representatives from each stakeholder group (government, companies and civil society). National Coordinator Karybek IbraevHead of Kyrgyzstan EITI SecretariatEmail: ikarybek [at] hotmail [dot] com Companies operating* Oil & gas companies: Manas Petroleum, Gazprom, Caspian Oil & Gas * Note: Company list based on EITI research and is not conclusive For further information, please contact drogan [at] eiti [dot] org (Dyveke Rogan) at the EITI International Secretariat.
