KARACHI: Customs Valuation Director Wasif Memon has revised customs values of water based acrylic type self adhesive (BOPP/OPP) and hot melt rubber based self adhesive tape in jumbo/log or in retail packing by exercising powers under Section 25-A of the Customs Act, 1969.
The custom values of water based acrylic type self adhesive (BOPP/OPP) and hot melt rubber based self adhesive tape in jumbo/log or in retail packing, were earlier determined vide Valuation Ruling No 809/2016 dated January 25, 2016.
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There were several representations from different importers and local manufacturers, for determination of customs value of the subject items. The importers have claimed that the prices of subject items are showing downward trend in the international market hence existing valuation ruling, which is over seven months old is required to be revised in the light of Sindh High Court’s orders dated November 10, 2015.
On the other hand, the local manufacturers contended that customs values determined vide Valuation Ruling No 809/2016 were on lower side and request to enhance the customs value.
Therefore, the Customs Valuation initiated an exercise to re-determine the values of the said items.
