Thursday, October 28, 2021

Umbrella business group wants to be included on transparency forum

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The Private Sector Commission (PSC), Guyana’s largest umbrella organisation representing businesses across the country said it is disappointed that it was not included in the Guyana Extractive Industries Transparency Initiative (GYEITI) Multi-Stakeholder Group (MSG).

In a letter seen by OilNOW, addressed to Minister of Natural Resources, Vickram Bharrat, the PSC commended the government for the recent appointment of the MSG but said it was ‘extremely disappointed’ about being excluded from the group.

“While the MSG comprise of a relatively diverse representation, we are particularly concerned that the PSC, which is the apex private sector body in Guyana, was not invited to a part of the MSG,” the business group said.

The letter further stated PSC’s interested in being considered for inclusion on the MSG, pointing out that the private sector body has a vested interest in being a part of the forum that would be playing a key role in transparency in the extractive sector.

“We are hereby seeking to be included in this stakeholder group at the earliest opportunity,” PSC said.

A new 12-member MSG was appointed by the Ministry on September 20. It is the second such appointment since Guyana became a candidate of EITI in 2017.

Member countries are required to appoint a group comprising representatives from government, civil society, and the extractive industry.

The MSG is responsible for implementing the EITI standard, a mechanism to ensure transparency and accountability. The EITI’s requirements span a country’s entire legal and institutional framework, including allocation of contracts and licenses. It also touches exploration and production, revenue collection, revenue allocations, social and economic spending, and the outcomes and impacts of implementation.

The group consists of four members from government, four from civil society and four from industry.

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