KARACHI: The Directorate General, Customs Valuation, Director General Surriya Ahmed Butt, has decided to revise the Valuation Ruling No: 818/2016 on November 16, it is learnt.
Sources told Customs Today that Surriya Butt said the department was reviewing suggestions from importers to set new prices. She said that some valuations, which were issued in 2015 and 2016, were being reviewed from the beginning.
Moreover, the valuations will be set in view of rising prices in the international markets. Sources told that a petition was submitted by the importers to Directorate General Customs Valuation in which change in prices of cereal foods was requested.
Sources said the Valuation Ruling No: 818/2016 was issued on March 3, 2016. A meeting was held with the stakeholders on October 26, 2017. Importers were told 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 item in question through which the actual current value could be ascertained.
