KARACHI: The Pakistan Customs has re-determined the values of galvanized and ungalvanized iron and steel wire rope.
The Directorate General of Customs Valuation has issued fresh valuation ruling no. 857/2016 after the importers of galvanized/ungalvanized iron and steel wire rope agitated against the customs values of the iron and wire rope determined under the valuation ruling no. 632\2014. They held that the values of the subject goods are traded in the international market on much lower side.
None except the representative of the manufacturer, M/s Umar Usman and Sons, Multan attended the meeting held on May 16.
According to the ruling, galvanized iron and steel wire rope, PCT7312.1010 and 7312.1020, imported from China shall be assessed at the rate of 1.11US$ per kilograms. Ungalvanized iron and steel wire rope, PCT7312.1010 and 7312.1020, imported from China shall be assessed at the rate of $0.94 per kilogram.
