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Process underway to establish Scrap Metal Unit
The Scrap Metal Unit has been deemed one of the necessary ingredients for the resuscitation trade and recently the Ministry of Business have begun taking steps to staff this entity.
Scrap Metal Unit soon to be established to monitor trade.
The Ministry, on Sunday, advertised vacancy for the Head of the Scrap Metal Unit within the newspaper. Whoever is offered the job will be responsible for the day to day business of the Unit, its effective administration and direct control of its functional operations.
Kaieteur News understands that all of the positions for the unit will be advertised in the coming weeks. Some of the positions will include inspectors, scrap metal officers, investigators and analysts.
Recently, the government re-opened the trade temporarily for three months to allow scrap metal dealers to export their material which would have accumulated during the past 19 months that the trade had been suspended.
Business Minister, Dominic Gaskin, had said that a new framework is being prepared for the eventual resumption of the trade.
Elements of this framework, according to Gaskin, include new legislation, regulations and the setting up of a new unit complete with its rules and procedures.
Last November, Gaskin had said that one of the important factors to be addressed before the trade is officially restarted is the establishment of a unit to regulate the trade. He had said that the unit would need to be budgeted for and put in place.
Further, the Business Minister had said that ultimately the government cannot allow an unregulated trade to carry on business, more so with the kind of past the scrap metal industry has.
According to Gaskin the trade was proven in the past to be detrimental to a lot of businesses and private individuals. He had reported that people were stealing manhole covers and grill work to export as scrap metal thereby increasing the need for the trade to be regulated.
The trade was closed on June 15, 2015 to facilitate a forensic audit which was completed that December. The audit which was done by Chartered Accountants Ram and McRae had recommended that the legislation governing the local industry is in need of an update.
It was highlighted that in the old Metal Dealers Act 91:08 there was no provision for the collection of export fees. Despite this, the auditors found within financial statements records of the unit’s income described as Export fees.
The temporary reopening was granted since the Ministry of Business is in the process of putting together new guidelines and regulations and is now in a position to authorise a limited restart to the trade.
Inspections revealed that there is a build-up of scrap metals across Region Four in particular as a result of the trade being closed for so long. Exporters can now ship out the existing scrap for the limited period.
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