Petroleum Fund Based on Norwegian model Principle of ‘sustainable income’ (complex calculation but essentially interest) designed to preserve real petroleum wealth for future economic development of TL. Oversight mechanisms Consultative Council, reports to parliament and provides advice on management of PF and public expenditure of oil revenues IAB
Became an active member of EITI Working Group since the early stage of EITI process in Timor Leste
Has a strong voice at the EITI working group
Became a central of Media coverage on EITI issues (it was an asset for media advocacy)
Strong in international networking via PWYP, RWI, CAFOD in doing advocacy (ex. organizing international pressure such a statement toward oil companies in Timor Leste as regard to the disaggregate report demanding.
CSO has conducted an international workshop on validation and dissemination process in Timor Leste which in cooperation with RWI, PWYP, EITI Regional Secretariat and the Timor Leste government.
CSO has more progress in implementing EITI work plan then Government and Oil companies in Timor Leste
By joining EITI the potential negative impacts of mismanaged revenues can be mitigated, and these revenues can instead become an important engine for long-term economic growth that contributes to sustainable development and poverty reduction in TL
Implementing EITI in Timor-Leste is in line with Timor-Leste’s commitment in transparency and in managing its oil and gas sector
It helps to promotes accountability, and;
EITI has been a model as well as a means for communities and Civil Society to hold government accountable.