DUSHANBE, October 30, 2015, Asia-Plus – Tajikistan has prepared its first Extractive Industries Transparency Initiative (EITI) Report.

The Report was presented during a meeting of the National Council that took place in the building of the Ministry of Finance on October 27.

A number of suggestions on development of EITI in Tajikistan were reportedly made during the meeting.  They, in particular, proposed to discuss and work out a draft law on amendments to the country’s law on mineral resources.

The National Council, which is the supreme body, was set up in August 2012.  The National Council is led by deputy finance minister and its members include representatives of civil society, government agencies and mining sector.

The Multi-Stakeholder Group (MSG - a group made up of government, company, and civil society representatives) reportedly oversees the EITI implementation in a country. The MSG develops the country Workplan, the production of the EITI Report and ensures that the EITI contributes to public debate.

The National Secretariat at the Ministry of Finance is an executive body.

We will recall that the international EITI Board approved Tajikistan''s application for EITI Candidate status at its meeting in Oslo on February 26, 2013.  As an EITI Candidate country, Tajikistan has to disclose payments from its extractives sector, and meet all the requirements in the EITI standard within 2.5 years to become EITI Compliant.

The Extractive Industries Transparency Initiative (EITI) is an international organization, which maintains a standard, assessing the levels of transparency around countries’ oil, gas and mineral resources.

EITI Standard is implemented in 46 countries. It consists of a set of requirements that governments and companies have to adhere to in order to become recognized as ''EITI Compliant''.  EITI is unique in terms of bringing together representatives from three different groups - private sector, civil society and Government - to work together, through the verification and full publication of company payments and government revenues from oil, gas, and mining.

Meanwhile, EITI’s website says that Tajikistan has more than 400 deposits of gold, silver, zinc, lead, mercury, tin, uranium, oil, gas, precious stones and other minerals.  It hosts one of the largest silver deposits in the world, the Bolshoi Konimansour deposit.  Companies, including CNPC, Gazprom, Tethys Petroleum and Santos, are increasingly exploring for oil and gas and have reported considerable oil and gas finds.  Important legal, fiscal and institutional reforms are underway with a view to boost competitiveness and investment in the extractive sector.

Tajikistan has also agreed to participate in the beneficial ownership pilot project, and is planning to collect information on beneficial ownership through the EITI reporting process, according to EITI’s website.