Minister of Industry, Investment and Commerce, Hon. Anthony Hylton, is hailing the successful reopening of the scrap metal trade.
The Minister informed the House of Representatives during his 2013/14 Sectoral Debate presentation on Tuesday, May 14, that since the restart in January, the trade has generated significant employment and foreign exchange earnings, in areas such as manufacturing, the financial sector, trucking and logistics.
“It has also benefitted suppliers of goods and services, and last but not least, the small man. Additionally, there has been positive impact on the environment, with no adverse impact on public or private property reported,” Minister Hylton said.
He informed that attempts to breach the regulation have been met with swift and decisive action by the police, Customs and the special team at the Factories Corporation of Jamaica (FCJ).
“So far, three persons have been arrested and charged by the police. One employee has been terminated and one exporter is faced with imminent suspension of his export licence,” the Minister said.
He said that the successful restart of the trade vindicates his Ministry’s position that in the context of the global supply chain and trade in essential commodities, the prohibition against the trade imposed by the previous administration was unsustainable.
The scrap metal trade was re-opened on January 28 this year, after being closed for more than a year, with more stringent regulations governing the industry.
Under the new regulations, all exporters, except those who generate metal waste in their manufacturing operations, are required to post a $7 million bond with the FCJ, which is in charge of the designated central multi-user sites.
General scrap metal exporters are only allowed to export from designated multi-user sites and any exporter, who is convicted of theft, will pay a fine of $2 million and lose their licence to operate.
Contact: Andrea Braham