Tue 11 Feb 2014
Filed under: Business / Trade,Inside Burma,International,News
Energy companies, the government and civil society are to work together to apply international standards to the exploitation of the country’s rich natural resources.
Representatives from each of the participating organisations are setting up the Multi-Stakeholders’ Group this week, with members expected to be confirmed on February 15.
The group’s main role will be top publicise the income and tax payments of energy exploration firms operating in Myanmar, and report it under the Extractive Industries Transparency Initiative, which Myanmar has applied to join.
The six representatives each from the energy companies and the government have been selected, but not yet announced. The nine civil society representatives have been selected tentatively, said U Win Myo Thu, who was among those chosen on February 2.
The group will report on the income the government receives from natural resource exploitation, the results of an audit into those figures, and a discussion of the impact of natural resources exploitation, he said.