First Report complemented by rich online resources.
Tracing the revenues for the Philippines first EITI Report showed a pleasant result. The contribution of the extractive industries in the Philippines proved to be roughly 50% larger than initially estimated. About PHP 17 billion (US $378 million) was initially thought of as a double count, but subsequent tracing of the amount proved that it was, in fact, a separate payment from oil and gas companies to the Bureau of Internal Revenue.
Revenues total US $1.158 billion
Thus the total revenue flow was adjusted from the originally estimated 35.26 billion PHP (US $785 million), to 52 billion PHP (US $1.158 billion). That is the main finding of its 2012 EITI Report. This EITI report is the first time that the Philippines collected, analysed and presented to the public official figures on the contribution of the extractives sector to the economy.
The report is the result of stakeholder collaboration, and will be used to inform government policy. For President Benigno Aquino III, President of the Philippines, the report bears witness to his “government’s efforts to institutionalise accountability across all […] sectors and expand avenues for stakeholders to engage in the dialogue of progress”.
Creative approach to conveying information on sector
Besides containing rich information on the sector, the Philippines EITI maintains a website with an innovative approach of publishing contracts, cadastres and infographics (see image above). The EITI file repository currently catalogues around 40 mining and oil and gas contracts; detailed information on ancestral lands; and a detailed examination of current Memorandums of Agreement.
Ambitious plans to strengthen resource governance
The Philippines government recognises the achievements of the PH-EITI thus far, but does not want to stop there. Secretary of Finance Cesar Purisima expresses its further ambitions: “from here, the PH EITI MSG will begin the challenging task of formulating policies for reforming governance of the extractive sector and enhancing government systems to promote transparency and improve EITI implementation in the country. […] we must sustain the change we have started through the EITI for the government to receive our just share in the extraction of our natural resources.”
A number of these recommendations have already been defined, such as the intention to institutionalise the EITI, address legal barriers to implementation and improve monitoring processes in government concerning the mandated social expenditures and environmental funds. The many recommendations made by both the Independent Administrator and the Multi-Stakeholder Group could, if implemented, lead to a host of further structural improvements, and as such further strengthen natural resource management and accountability in the Philippines.
For more information about the EITI in the Philippines, see http://www.ph-eiti.org. They are also on twitter (@PH_EITI) and facebook (https://www.facebook.com/PhilippineEITI). You can also visit their country page on our website.
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"New insights to extractives sector in the Philippines" was published by on eiti.org on 15 January 2015.