Saturday 17 November
Powered by Ajaxy
Oct 25, 2017 @ 18:08

Ginalingan! PH zooms past global standards on mining, oil extraction

 

The Philippines has made such great leaps that it went beyond the expectations of this global review board.

The Philippines is the first-ever country to achieve a “substantial” progress under the 2016 Extractive Industries Transparency Initiative (EITI) standard, but it turns out that it even surpassed the requirements in nine areas set by the Norway-based group.

Specifically, the country scored gold on these components on the scorecard: the multi-stakeholder group’s oversight of the EITI process; work plan; legal framework; policy on contract disclosure; revenue management and expenditures; social expenditures; public debate; follow-up on recommendations; and outcomes and impact of implementation.

On top of this, the Philippines was rated with “satisfactory” progress on 18 other requirements.

The findings are valid until October 2020 when a fresh review is scheduled.

Please follow and like us:

Tags: , , , , ,

Related Stories
The Asia's Best Female Chef received an honorary knighthood for helping boost ties between Italy
The love for nature gathered the Philippine's richest people at the Metropolitan Museum of Manila
Po family-led Shakeys Pizza Asia Ventures Inc. (SPAVI) expects to end the year with 228
The local unit of e-commerce site Lazada is looking into the construction of additional logistics


 

Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - Latest news on the richest Filipinos and Family Business.