The Guyana Extractive Industries Transparency Initiative (GYEITI) is a globally recognised standard for promoting transparency and accountability in the management of extractive resources. It involves the disclosure of information about the revenues generated from natural resources, including oil, gas, and mining. By implementing the GYEITI, governments can demonstrate their commitment to good governance and responsible management of natural resources.
Apparently the current Government of Guyana is not interested in ensuring that the GYEITI met its requirements for the given deadline by the international body for EITI and ensuring that Guyana is not suspended completely. The Government of Guyana is not interested in transparency and accountability. Transparency and accountability will include increased public trust, reduced corruption, and better management of natural resources.
It is important for the government to engage with stakeholders and understand the value of implementing the GYEITI to ensure the sustainable development of the country.
With the recent exposure of the MARKIT audit report that should have been posted on the GYEITI website where Guyanese can access to have an understanding of the expenditure of the Oil and Gas sector was not shared.
Rather, the government has held this as a secret document to hide the over spending of US $107 million that will be a burden to the Guyanese citizen. It is a sham that Mr. Bharrat Jagdeo in his last press conference stated that the audit report was with the MNR and GRA. The big question is: Can an ordinary Guyanese go to either of these entities and request a copy of this report? The answer is no, so defending this is absolutely nonsense and a huge lie to the citizens of this country.
It is important to note that transparency and accountability are crucial in the management of natural resources. Companies operating in the oil and gas sector have a responsibility to disclose information about their operations, revenues, and payments to governments. Such transparency can promote public trust, reduce corruption, and foster sustainable development.
