KARACHI: The Directorate General, Customs Valuation, Director General Surriya Ahmed Butt has decided to revise the Valuation Ruling No: 796/2016 on March 30, 2018, it is learnt.
Surriya Butt said the department was reviewing suggestions from various importers to set new prices of metallic yarn. She said some valuations which were issued in 2016 were being reviewed from the beginning.
Moreover, the valuations will be set in view of the rising prices in the international market. Sources told Customs Today that a petition was filed with the Customs Valuation in which change in prices of metallic yarn was requested.
Sources further told that Valuation Ruling No: 796/2016 was issued on January 18. A meeting was held with the stakeholders on 19th February 2018.
Importers were advised to furnish the import invoices of the last three months showing factual values as well as websites, names and e-mail addresses of known foreign manufacturers of the items in question through which the actual current value could be ascertained.
