Limited window for exporting scrap metal to close by July’s end- Business Minister

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…says he expects Legislation to be tabled in August, if not, later this year

Minister of Business Dominic Gaskin

Business Minister, Dominic Gaskin has noted that he expects the scrap metal bill to be tabled in the National Assembly, before August as he also said that the limited resumption on the exportation of scrap metal will wind down by the end of July.

However, Gaskin also noted if the Bill is not tabled by August, it will therefore mean that it will be tabled during the last quarter of the year.

He made this statement even as scrap metal dealers are eagerly awaiting the piece of legislation, expected to be enacted by year-end, to govern the industry.

According to Gaskin, the new legislation to be enacted will see ‘firm and solid’ management, to regulate and monitor the industry through the development of a managing body.

Government had approved a restart of the scrap metal trade in Guyana during February 2017 after closing down the industry one year prior to that.

The main reason for this was to allow exporters to ship out the existing stock for a limited period of three months and ensure that there was no stockpile of the materials.

However, in April 2018, after several months of delays, Government had decided to reopen the scrap metal trade on a limited basis again to facilitate the clearing of some of the accumulated scrap metal across the country.

Plans for a software-based system is also being introduced, which was specially designed to help the Ministry monitor and regulate the trade once it fully resumes.

Gaskin had said with the resumption of the trade, it will give the Ministry the opportunity to test the system to ensure that its working and also that it will help to clear some of the accumulated scrap metal that has been legitimately acquired from some of the exporters or dealers yards.

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