December 24th, 2012
It was recently announced by Anthony Hylton, the Minister of Industry, Investment and Commerce, that the scrap metal trade will resume in January of next year. I think most us have not forgotten why this trade was banned in the first place, but to remind those of us who do not remember, the ban was put in place as a result of the pilfering of private and public infrastructure and equipment.
However, according to the Minister the trade will now be conducted under strict regulations, and appropriate consequences will be put in place to deal with those who breach the new rules.
Three of these new regulations include:
• Exporters being required to use one of three central multi-user sites, where customs officers and members of the security forces will be permanently positioned.
• Traders being required to obtain a special permit to export and will also be charged a regulatory fee.
• Traders being required to post a $7 million bond, a part of which will be used to compensate victims of theft.
What do you think? Will these new regulations stem the theft of private and public infrastructure? Go ahead and have your say…