KARACHI: The Directorate General of the Customs Valuation is reported reluctant to revise custom values of petrochemical products despite remarkable decline in the POL prices in the international market, it is learnt.
The sources told Customs Today that the customs valuation directorate general had fixed the values of petrochemical products in 2012. After that no new value of petrochemical has so far been fixed.
The importers have time and again approached the customs valuation to re-fix the customs values of petrochemical products following remarkable reduction in the POL prices in the international market.
However, the customs valuation officials have clearly told the staff not to entertain the importers, seeking reduction in petrochemical products as it would bring loss to the national exchequer, sources added.
“Officials are allegedly told to delay the applications of the importers, seeking to re-fix customs values of petrochemical products,” the sources said.
