Pressure on scrap iron industry

THE EDITOR: The Ministry of Trade and Industry continues to exert pressure on the president of the Scrap Iron Dealers Association, demanding approval of export licences and the employment of eight individuals to inspect export containers.

These measures have been deemed by some as impractical and unworkable.

The ministry's actions can not only be viewed as draconian, but also as favouring the creation and introduction of a Trinidad and Tobago iron and steel plant at Point Lisas, a company that could very well monopolise the local scrap-iron market.

Consequently, if this materialises, scrap dealers could be forced to sell their scrap iron to this TT iron and steel entity, at significantly lower prices than what they previously received.

GORDON LAUGHLIN

Westmoorings