KARACHI: Directorate of Customs Valuation Director Dr Wasif Memon has revised the customs values of generators.
The customs authorities issued Valuation Ruling No. 869/2016, discarding earlier Valuation Ruling No. 569/2013.
According to the customs authorities, a number of requests were received to determine the customs values afresh in the light of existing international market prices. Accordingly, customs value of gasoline generators (low-end brand) of China origin were determined by issuing Valuation Ruling No. 569/2013. A number of reservations were received from the importers of generators wherein they agitated that existing valuation ruling does not reflect correct international prices. Therefore, an exercise to determine the values of generators was carried out.
A meeting for the determination of the values of generators was held on March 7, 2016 which was attended by a number of importers including representatives of M/s Greaves Pakistan, M/s S M Jaffar and M/s Allied Engineering.
According to the valuation ruling, different customs values of petrol and diesel generators have been fixed.
