"Targetting EITI candidature in December 2013" says Minister.
Picture: Papua New Guinea Treasurer Don Polye.
The Government of Papua New Guinea has reaffirmed its commitment to implement the Extractive Industries Transparency Initiative (EITI). Speaking at the EITI Global Conference in Sydney, Treasurer Don Polye confirmed that the PNG National Executive Council had formally endorsed this decision in March, and that preparations had commenced for making an application for EITI candidature.
“We are targetting December this year for applying to become an EITI Candidate, and have established an interim multi-stakeholder group and interim national coordinator"
“The government believes that participating in the EITI will be a platform for continued reforms"
The Papua New Guinea economy has grown rapidly in recent years, and government revenues are expected to increase considerably following the commissioning of the US$19 billion PNG LNG Project, with the first LNG deliveries scheduled to begin in 2014. The mining, oil and gas sectors already play a central key role in the Papua New Guinea economy, and substantial additional investment is expected in the coming years.
EITI Chair Clare Short welcomed the announcement. She said: “The EITI Standard provides a platform for government, industry and civil society to collaborate on providing high quality information that will inform public debate and public policy reform. Greater transparency and accountability are essential to ensure that the extractive industries promote equitable economic development and poverty reduction."
Minister Polye has been nominated by the National Executive Council as the EITI champion.
For more information, contact Sam Bartlett (+47 9026 7530; email@example.com)