Tougher rules for scrap metal dealers
KINGSTON — Scrap metal traders will have to abide by a number of stringent rules to keep their licences when the trade officially resumes next Monday, January 28.
Announcing a raft of rigorous regulations at a press briefing at his New Kingston offices yesterday, Minister of Industry, Investment and Commerce Anthony Hylton said there is a global demand for scrap metal, but announced that the Government would be tightening-up the system in order for the country to benefit from the vital foreign exchange the industry attracts.
Under the new regulations, all exporters, except those who generate metal waste in their manufacturing operations, will be required to post a $7-million bond with the Factories Corporation of Jamaica, which is in charge of the designated central multi-user sites.
“The intent is to apply a portion of the bond towards compensation for victims of theft,” Minister Hylton explained.
General scrap metal exporters will only be allowed to export from the designated multi-user sites. Two of these are already open – Riverton, and Elspeth Avenue, off Hagley Park Road. An exporter, who is convicted of theft, will pay a fine of $2 million and lose their licence to operate.
“Customs and the police will be posted permanently at the sites and there will be one hundred per cent inspection of all containers … additionally, the police and Customs are authorised to carry out random checks at both exporter and dealer storage sites,” the industry minister said. (Observer)