KARACHI: The Directorate General of Customs Valuation has revised the customs value of ethyl hexanol/octanol and phthalic anhydrite through Valuation Ruling No 1125/2017 under Section 25-A of the Customs Act, 1969.
According to the details, the customs value of phthalic anhydrate was earlier determined vide VDB No.235/2017 dated, 06.03.2017. Representations were received from commercial importers, for determination of customs value of 2- ethyl hexanol/octanol and phthalic anhydrate afresh.
Meeting with all the stakeholders including importers, local manufacturers, Pakistan Chemicals and Dyes Merchants Association (PCDMA) and representatives from clearance Collectorates, was held on 10.04.2017 and 11.04.2017 to discuss the current international prices of the subject chemicals.
Stakeholders were contesting that the prices of different chemicals fluctuate regularly in the international market and that fluctuation can be monitored/regulated through prices quoted in ICIS Scan internationally. Hence they requested that the both chemicals, whose prices are available in ICIS Scan, may be linked with the ICIS scan prices for fair treatment to the trade in accordance with international market prices, as is being done in case of plastic raw material on scan prices, iron and steel products on London Metal Bulletin prices and so many other items on the prices quoted in reputed international bulletins.
