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New regulations are to be tabled in Parliament Tuesday afternoon to monitor and regulate the multi-million dollar scrap metal trade.
The regulations will be presented by Commerce Minister Karl Samuda who last week ordered a temporary halt of all scrap metal exports.
This was in response to a sharp increase in the theft of metal items.
Mr. Samuda says the regulations will include among other things, fines and penalties for breaches, the licensing of legitimate traders and the introduction of inspectors to monitor activities in the sector.
In a statement Monday night, Mr. Samuda said it became necessary for the government to introduce guidelines as several businesses have reported huge losses as a result of the theft of valuable metals.
Among the items stolen were manhole covers, railway lines, power lines and conveyors.
Several entities including the Jamaica Public Service Company, the National Water Commission, Cable and Wireless and the National Works Agency have been affected.
Mr. Samuda is expressing confidence that the new guidelines will curb the theft of valuable scrap metals and derive economic benefits for Jamaica.
The regulations will be presented by Commerce Minister Karl Samuda who last week ordered a temporary halt of all scrap metal exports.
This was in response to a sharp increase in the theft of metal items.
Mr. Samuda says the regulations will include among other things, fines and penalties for breaches, the licensing of legitimate traders and the introduction of inspectors to monitor activities in the sector.
In a statement Monday night, Mr. Samuda said it became necessary for the government to introduce guidelines as several businesses have reported huge losses as a result of the theft of valuable metals.
Among the items stolen were manhole covers, railway lines, power lines and conveyors.
Several entities including the Jamaica Public Service Company, the National Water Commission, Cable and Wireless and the National Works Agency have been affected.
Mr. Samuda is expressing confidence that the new guidelines will curb the theft of valuable scrap metals and derive economic benefits for Jamaica.