«Timing of the reform in the mining industry set in the presidential decree is unrealistic,» Arkady Rogalsky, Board Member of the Kyrgyz Mining Association, said at a press conference today.
According to him, it is not possible to create a high-quality document in such a short time. It is necessary that ministries, departments and experts to give their comments.
«Some ideas, of course, will be proposed. But it is an arrogant faith in success,» the expert is sure.
He also noted that Kyrgyzstan needs to switch to international reporting standards in the mining industry to attract investment.
«For example, we had been in talks for four years to introduce international reporting standards. Only by 2018 we came to consultations with the State Committee for Industry, Energy and Subsoil Use. We have been agreeing on clauses for two years. Including according to international standards, it is necessary not only to report, but also to calculate reserves. Only in this case we can count on attracting investments and obtaining loans from banks for mining projects,» Arkady Rogalsky noted.
«In addition, the standards stipulate stricter requirements for those who calculate the reserves. Up to the point where a person, who broke the rules, could no longer count them. Otherwise, it turns out that people commit serious violations in their countries, they are forbidden to work there, they come to us and pretend to be specialists. This should not occur, this issue needs to be controlled,» he said.
