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Coalition office Address: J. Jabbarli 44, Caspian Plaza 3, floor 9, Baku, AZ1065 tel/fax: (+99412) 437 13 20 |
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Statement by “Improving Transparency of Extractive
Industries” NGO Coalition
 New
structure of Supervisory Board of State Oil Fund of Azerbaijan Republic
(SOFAZ) was approved by decree of the President of Azerbaijan Republic on
November 27, 2008.
According to decree, new structure of Supervisory board includes 7 members. Five of them represent Executive Power, one National Bank and one National Sciences Academy. None of these entities represent public unions. Article 5.4 of Regulations (was approved by 434th decree of president of Azerbaijan Republic on December 29, 2000) of State Oil Fund of Azerbaijan Republic states for providing general oversight on Fund’s activities Supervisory board should be established through representatives of appropriate state entities and public unions, as well as other people. As seen, this time requirements of Regulation were not met as it was before, and representatives of Public Unions were not included to the structure of Supervisory board. It should be stated previous structure of Supervisory board included nine people and of them two were Parliament representatives. Despite previous time, new structure did not include any representative from Parliament, which in its term limited any oversight over SOFAZ activities by Supreme Legislative Branch. Since start of its activities, it has been third time that SOFAZ Supervisory Board structure was approved. As mentioned above, though stated in Fund’s Regulation Supervisory Board structure still did not include any representative from public unions. EITI NGO Coalition expresses deep concern on this fact, which is break of law for several times on one hand, and limitation of oversight over huge public finance – oil revenues by civil society on the other. Its disappointing that though several applies to the president of Republic on representation of EITI NGO Coalition in SOFAZ’s Supervisory Board, they were left without any reply. And this happens when EITI NGO Coalition acts as party of Memorandum of Understanding on EITI. The facts that review by Independent Auditors on comparison of payments of companies and receivables of Government on extractive industries is publishing twice a year is estimated as a considerable step towards transparency by Coalition. However this is not enough nowadays when oil revenues and spendings are being increased day by day. We consider, the fact that EITI NGO Coalition representing more than 130 NGOs with mission of achieving transparency in extractive industries and effective management of natural recourses was left behind general oversight over SOFAZ activities decreases public trust on transparent usage of oil revenues and increases risk of effective management. Taking all above mentioned into account and according to SOFAZ Regulations, EITI NGO Coalition requests including public union representatives to Supervisory Board for public oversight. (This Statement was approved by This statement printed in the following sources:
Last correction date of the file: 26/12/2009 - 14:59:27
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