THOUGH it employs thousands of people, the scrap iron industry has had a bad rap because of stolen public and private property, like flood grills and copper wires, passing through the hands of some dealers.
But the industry is a crucial component of the formal and informal economy, ridding the streets of clutter, while providing employment and generating considerable foreign exchange.
The Central Statistical Office (CSO) valued the industry at a staggering $1.1 billion within a year of the Scrap Metal Act 2022 being partially proclaimed in February 2023, and dealers resumed local and export business.
The industry’s main lobby group, the TT Scrap Iron Dealers’Association (TTSIDA) isn't sure how the CSO calculated the figure.
Business Day spoke with TTSIDA president Allan Ferguson about the state of the industry.
“A lot of people are saying they don’t know where that figure come from. I don’t know neither. I do doubt the figures."
Ferguson sought to dispel negative connotations, like theft and criminality, attached to scrap iron dealers and to promote the industry as one of many opportunities.
He said the industry has far more potential, but all hands are needed on deck.
[caption id="attachment_1099882" align="alignnone" width="1024"] TTSIDA president Allan Ferguson. - File Photo[/caption]
Ferguson suggested the $1.1 billion valuation must be understood in the context of the yearlong shutdown starting in August 2022.
The government froze the industry after an increase in the theft of copper wires, manhole covers and other public and private property, sometimes leaving citizens without utilities.
“I don’t have nothing to discredit the figures, though."
But, Ferguson said, “Because the industry was shut down for more than a year, when it opened back, a lot of people immediately moved out a lot of material.”
That local trade and export rush died down shortly after.
Ferguson addressed the public perception of the industry, saying he understands it, and has no tolerance for criminality in the business.
He is even sceptical of the vans that blare: “Buyin’ scrap iron; ole battery buyin.’"
“Since I became president (in 2011) I have been lobbying government upon government to (regulate) this industry. This industry allowed people to come off the street and run into it. It will bring in criminal activity. But if a man have to have a licence to pick up scrap, a next man cannot go into a yard and sell no scrap. He can’t thief and sell no scrap because he must be licensed. And this is what we’re pushing.
"Up to now, the van men and them still operating without licences. So the theft still continuing, because this is a lawless country.”
The van collectors, as he described as some of the errant scrap iron traders, are not all association members.
“Remember, I have normal working people, who collect in vans and are honest, who are members of our association. We have plenty van men.
[caption id="attachment_1099886" align="alignnone" width="1024"] Jerron Stafford of West Indian Salvage and Rec
