KARACHI: Directorate General, Customs Valuation, Director General Surriya Ahmed Butt, has decided to revise the Valuation Ruling No: 716/2015 on March 27, 2018, it is learnt.
Director General Surriya Butt has said the department was reviewing suggestions from importers to set new prices of PC stranded wire of iron or steel, not electrically insulated. She said some valuations, issued in 2015, were being reviewed from the beginning.
Moreover, the valuations will be set in view of the rising prices in the international markets. Sources told Customs Today that a petition was submitted by the importers to Customs Valuation in which change in prices of PC PC stranded wire of iron or steel, not electrically insulated was requested.
Sources said the Valuation Ruling No: 716/2015 was issued on 10 February, 2015. A meeting was held with the stakeholders on January 26, 2018.
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 the known foreign manufacturers of the item in question through which the actual current value could be ascertained.
