KARACHI: The Custom Directorate General of Valuation has convened a meeting of all stakeholders on April 28 to determine the values of silk fabrics under Section 25A of the Customs Act, 1969.
Importers, manufacturers and other stakeholders have been invited to attend the meeting, which may conclude with the issuance of a new uniform valuation ruling of silk fabrics (HS Code 5007.0000, 2000&9000) all over Pakistan. Customs authorities are of the view that uniform valuation of silk fabrics would discourage smuggling and under-invoicing, besides increasing revenue collection.
The directorate has also invited FPCCI Standing Committee on Valuation chairman, KCCI Customs Valuation Committee chairman, Lahore Chamber of Commerce and Industry president, Islamabad Chamber of Commerce and Industry president, M/s Fida Trade International Gilgit, M/s Hashmi Silk Centre Rawalpindi, M/s. Five Star Trading Company Rawalpindi, M/s Khan Baba Silk Centre Lahore, M/s Karakoram Traders Gilgit, M/s Wahaj Enterprises Lahore, M/s SEFAM (Pvt) Ltd. Lahore, M/s Apparel and Textile Mills Lahore, M/s Saleem Silk Centre Lahore, M/s Nawaz Enterprises Karachi, M/s Arzoo Textile Mills Karachi, M/s M.F. & Company Karachi, M/s. King Sport Karachi, M/s. Malik Brothers Karachi, M/s. Warasat Enterprises Rawalpindi, M/s Rafaqat & Sons Rawalpindi, M/s B.A. Impex Lahore, M/s Lakhani Silk Mills Karachi, M/s Nizam sons (Pvt) Ltd. Sialkot, M/s Sanaullah Textile Mills (Pvt) Ltd Karachi, M/s Ebrahim Textile Mills (Pvt) Ltd Karachi, M/s Gul Ahmed Textile Mills Ltd Karachi, M/s SS Fashion Resources Karachi, M/s Ahsan Traders Rawalpindi, M/s Anwar Traders Rawalpindi and M/s Shabbir Traders Rawalpindi.
They have been advised to bring all relevant documents, samples of products and proposed working in support of their contentions so that the meeting could remain fruitful and decision-oriented.
