KARACHI: Customs Valuation Director Wasif Memon has revised the customs values of polyester yarn vide Valuation Ruling No.928/2016 by exercising powers under Section 25 (A) of Customs Act, 1969.
As per details, All Pakistan Yarn Merchants Association (PYMA) Karachi moved the Customs Valuation department stating that old Valuation Ruling No.817/2016 issued on March 2, 2016 needed to be revised following downward trend in international prices of the polyester yarn.
Therefore, the valuation officials held meetings on August 17 and 24, 2016 to revise the value of polyester yarn where officials reviewed the invoices of last three months and issued new less value of the drawn textured yarn and polyester filament flat yarn.
