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Afghanistan To Request for Re-Validation after EITI Suspension

09 May 2019 Wadsam Afghanistan Business News

Afghanistan was temporarily suspended from the Extractive

Industries Transparency Initiative (EITI) in January 2019 after demonstrating “inadequate

progress” in implementing the required standards.

The country intends to request re-validation in the Global

Conference in Paris in June 2019.

Afghanistan is given time until July 18,2020 to show meaningful

progress in order to restore its candidate status.

“Suspension is temporary mechanism,” said EITI chair Fredrik

Reinfeldt in a statement in January 2019. “Afghanistan is still an EITI

implementing country and we look forward to working with the government,

industry and civil society organizations to build on the recent momentum in

improving transparency. The Board decision includes a clear set of corrective

actions to guide this work.” 

Afghanistan joined the EITI in 2010. The country is rich in

natural mineral resources, which include vast reserves of copper, iron-ore,

rare-earth metals, gold, gemstones and marble. Deposits have been estimated to

be worth over USD 1 trillion. The country’s energy resources consist of natural

gas and petroleum. The realization of Afghanistan’s substantial extractives

potential could generate significant revenues for the government, improving

economic development and reducing the country’s heavy dependence on aid.

Afghanistan’s central government is hampered in its ability to

manage and enforce revenue collection from the extractives sector and

production is constrained by the precarious security situation. Despite these

challenges, Afghanistan has made progress in implementing the EITI and has

notably been using the data as a diagnostics tool for its cadaster system, a

way to strengthen the government’s revenue collection and to identify

challenges and propose reforms to public auditing practices.

The post Afghanistan To Request for Re-Validation after EITI Suspension appeared first on Wadsam.

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