PUBLICATION OF THE 8TH & 9TH PAPUA NEW GUINEA EXTRACTIVE INDUSTRIES TRANSPARENCY INITIATIVE REPORTS FOR FINANCIAL YEARS 2020 AND 2121 RESPECTIVELY
The Papua New Guinea Extractive Industries Transparency Initiative (PNGEITI) today (31st March, 2023) announces the publication of two flagship reports covering the fiscal years 2020 and 2021 for the extractive sector.
The reports, sanctioned by the PNGEITI Multi Stakeholder Group (MSG) comprising representatives from relevant government institutions, extractive industry companies and civil society organizations is a culmination of team work from this tripartite oversight body that has been working diligently since 2013.
The purpose of the EITI report is to continue to present to our populace a comprehensive description on the operation of the PNG extractive sector, its contributions to the domestic economy and most importantly, the transparency and accountability of revenues and other benefits received by the Government and the affected landowners and communities.
The EITI Reports build on the progress made in the preceding reports that have already been published, implementing recommendations made from the early reports in terms of addressing data and information gaps and increasing the comprehensiveness, reliability and quality of the reports.
The Reports are published in accordance with the requirements of the international best practice standard known as the EITI Global Standard. PNG is among 53 resource rich countries reporting against the EITI Standard.
A summary of the which is the 2021 Report (latest report) and the reports are presented below.