KARACHI: Director Customs Valuation Iqbal Muneeb withdrawn Valuation Ruling No. 1125/2017 of 2-Ethyl Hexanol /Octanol (PCT 2905.1600) and Phthalic Anhydride (PCT 2917.3500).
Earlier Customs values of 2-Ethy Hexanol/Octanol and Phthalic Anhydride of all origins were determined vide Valuation Ruling No 1125/2017. However, several representations from the importers and industrial consumers were received, wherein they contended that the customs values determined in the existing valuation ruling are not reflective of prices in the international market prices.
Keeping in view the prevailing prices of the subject goods, the Directorate General initiated an exercise for re-determination of the customs values of the subject item. Meetings with stakeholders, including importers, representatives from Pakistan Chemicals Dyes & Merchants Association (PCDMA) and field formations were held to discuss the current international prices of the subject goods.
During the proceedings, the stakeholders pointed out that the subject items, 2-Ethy Hexanol/Octanol falling under PCT 2905.1600 is subject to zero percent customs duty under Pak-China FTA and Phthalic Anhydride falling under PCT 2917.3500 is subject to 11 percent customs duty.
