KARACHI: The Directorate General, Customs Valuation, Director General Surriya Ahmed Butt has decided to revise the Valuation Ruling No: 879/2016 on April 23, 2018, it is learnt.
Surriya Butt has said that the department was reviewing suggestions from various importers to set new prices of light fittings and fixtures. She said that some valuations issued in 2016 were being reviewed from the beginning.
Moreover, the valuations will be set in view of the rising prices in the international market. Sources told CT that a petition was submitted before the Customs Valuation in which change in prices of light fittings and fixtures was requested.
Sources said that Valuation Ruling No: 879/2016 was issued on June 27, 2016. A meeting was held with the stakeholders on 1st of March 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.
Source said that, during the month of February and current month of March, importers submitted applications for review prices of different items, cause of increase of prices in the international market.
