DUSHANBE, October 22, 2015, Asia-Plus -- Tajikistan is making preparations for presenting its first Extractive Industries Transparency Initiative (EITI) Report.

Press release issued on October 21 notes that Tajikistan has committed itself to implement the EITI standards in August 2012 and the National Council, which is the supreme body, was set up.

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.

Tajikistan’s first EITI Report is nearing completion and if Tajikistan presents the report successfully it will retain its status of Candidate country and will continue implementation in order to get status of EITY Compliant, according to press release.

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.

EITI’s website notes that Tajikistan did not meet the deadline of February 26, 2015 and was therefore suspended at the EITI Board Meeting in Brazzaville, Congo on April 14, 2015.  EITI implementation in Tajikistan is currently focusing on preparations for EITI reporting. The MSG has commissioned a scoping study to inform the scope of its first EITI Report covering 2013.

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.  Its Scoping Note was completed in early July 2014.  MSG meetings in September and December 2014 and in March 2015 discussed the way forward for Tajikistan''s first EITI report.  An evaluation report was published highlighted the current process of the beneficial ownership pilot in the country.