Research Paper on Scrap Metal Trade in Jamaica
Introduction
The scrap metal trade is a very controversial topic in Jamaica in recent times. Outside of registered dealers/traders, the industry has garnered interests from many others as it has become a way of life for providing quick income for households. Although the trade started out as a livelihood for these persons the paradigm has shifted and now stems more negatives than positives as unscrupulous persons has used it as an avenue to participate in illegal activities that resulted in the government (Dr. Christopher Tufton – Minister of Industry, Investment and Commerce at the time) instituting an indefinite ban on the Scrap Metal trade in Jamaica in July of 2011. Jamaica has had a number of reported cases of theft of valuable equipment and infrastructure over the last four years amounting to approximately $1 billion (Barrett, 2011). It is for this reason many argue this industry is doing us more harm than good.
Scrap Metal theft however is not exclusive to Jamaica; it is a global concern and has been for the past 10 years. Kooi (2010) articulates that the rise in Scrap metal theft is driven by offenders’ recognition that ample metal supplies remain unguarded and that the price of return remains historically high based on heavy international demand. The market conditions made unsecured metal susceptible to increased theft, while causing a boom in scrap metal exports that increased the scrap metal theft problem.
It is evident that the scrap metal trade offered both positives and negatives to our country’s economy. It has provided job opportunities to many youths and has given them a sense of achievement as the income allows them to positively contribute to society and their families. It has also been the largest contributor in earnings to the export section “Crude Materials” for many years (STATIN, 2012). There has been some discourse from the new Minister of Industry, Investment and Commerce Andrew Hylton on reopening the trade with tough new
The scrap metal trade is a very controversial topic in Jamaica in recent times. Outside of registered dealers/traders, the industry has garnered interests from many others as it has become a way of life for providing quick income for households. Although the trade started out as a livelihood for these persons the paradigm has shifted and now stems more negatives than positives as unscrupulous persons has used it as an avenue to participate in illegal activities that resulted in the government (Dr. Christopher Tufton – Minister of Industry, Investment and Commerce at the time) instituting an indefinite ban on the Scrap Metal trade in Jamaica in July of 2011. Jamaica has had a number of reported cases of theft of valuable equipment and infrastructure over the last four years amounting to approximately $1 billion (Barrett, 2011). It is for this reason many argue this industry is doing us more harm than good.
Scrap Metal theft however is not exclusive to Jamaica; it is a global concern and has been for the past 10 years. Kooi (2010) articulates that the rise in Scrap metal theft is driven by offenders’ recognition that ample metal supplies remain unguarded and that the price of return remains historically high based on heavy international demand. The market conditions made unsecured metal susceptible to increased theft, while causing a boom in scrap metal exports that increased the scrap metal theft problem.
It is evident that the scrap metal trade offered both positives and negatives to our country’s economy. It has provided job opportunities to many youths and has given them a sense of achievement as the income allows them to positively contribute to society and their families. It has also been the largest contributor in earnings to the export section “Crude Materials” for many years (STATIN, 2012). There has been some discourse from the new Minister of Industry, Investment and Commerce Andrew Hylton on reopening the trade with tough new