KARACHI: Directorate General of Customs Valuation, through Valuation Ruling No. 1223/2017, has increased the values of viscose suiting fabrics.
The customs values of viscose suiting fabric were determined under VR No. 776/2015 issued on December 04, 2015. Since the valuation ruling was about two years old, therefore, there was need to re-determine the customs values of viscose suiting fabric.
In order to determine the values meetings with stakeholders including commercial importers, All Pakistan Textile Mills Association (APTMA) and representatives of clearance collectorates were held on August 17, September 19 and November 21, 2017 to discuss the current international prices trends of the goods.
During the stakeholders meetings, the representatives of APTMA and MCC Appraisement West Karachi requested that the said valuation ruling may be revised upwards in the light of prevailing international market prices.
The directorate set the customs value of viscose suiting fabrics (plain, printed, dyed or embroidered) at $5.25 per kilogram on import of all other origins except China.
However, the customs valuation for China origin had been increased to $4.95/kg from previous value of $4.85/kg.
