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Govt: 3rd report on extractive industry transparency out soon

17th April 2012
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The government has said the third Tanzania Extractive Industries Transparency Initiative (TEITI) reconciliation report covering the period from July 2010 to June last year will be out soon.

Already the initiative has placed adverts in the media inviting eligible and internationally recognized consultancy firms to take part as independent reconcilers to undertake the scoping study and produce the report. The deadline set for applications is May 16, this year.

According to the TEIT multi–stakeholders group, the services to be carried out by the consultant will include the production of a scoping report to determine payments and revenue streams to be covered in the reconciliation report and present an overview of the relevant companies and government agencies with the extractive industry sector.

The consultant will also facilitate a training session for extractive companies and government agencies participating in the reconciliation exercise in order to give guidance and prepare them for the reconciliation exercise.

Production of a reconciliation report on payments made by extractive companies and revenues received by government agencies for the period of July 2010 to the end of June 2011 based on audited accounts to international reporting standards.

Meanwhile, the government is in the process of completing its second Extractive Industries Transparency Initiative (EITI) reconciliation report to cover payments by 23 extractive companies, mainly those dealing with mining, oil and gas.

According to a statement from the Initiative, the report, scheduled to be completed by this month would also cover revenue collected by the government from the companies for the period from July 2009 to June 2010.

TEITI, which is currently under the Energy and Minerals ministry, is also gearing up to conducting a nationwide sensitisation to stimulate the public on extractive resources revenue.

SOURCE: THE GUARDIAN
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