New draft legislation for scrap metal trade completed   

DPI/GINA, GUYANA, Thursday, June 01, 2017

Minister of Business, Dominic Gaskin will soon present to Cabinet the Draft Scrap Metal Trade Legislation. The minister said that consultations on the Legislation will commence soon, thereafter the necessary changes will be made and presented to Cabinet for approval.

Minister Gaskin explained that Cabinet will examine the Draft Legislation to ensure that it is in keeping with the government policies, priorities and that the various concerns surrounding the Scrap Metal Industry are addressed. He said that once approved and the consultation process would have been completed it will them move to Parliament for passage, after which President David Granger would assent to it, the legislation will become Law.

In February Cabinet had granted approval for the limited restart of the Scrap Metal Trade; that three month period had just concluded, Minister Gaskin explained and that the Ministry has already begun to process some licenses.

Inspections have revealed that there is large buildup of scrap metal across Region Four which resulted from the trade being closed for the past 19 months. Hence, Cabinet had approved the proposal from the Minister of Business to allow the export of the existing stock over a limited period of time.

Additionally, The Ministry of Business, in anticipation of the resumption of the scrap metal trade sought to streamline mechanisms with respect to trade and licensing. The Ministry also met with key stakeholders to discuss proposed changes to the operations of the industry.

The Scrap metal trade was suspended in June 15, 2015 due to a forensic audit of the Scrap Metal Unit (SMU) which monitors the trade.

 

By: Gabriela Patram

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