KARACHI: The Directorate General of Customs Valuation has revised the customs value BOPET / holographic and PET sequin film vide valuation ruling no 1204/2017 under Section 25-A of the Customs Act, 1969.
Customs values of BOPET / Holographic and PET sequin film were earlier determined through Valuation Ruling No.876/2016 dated 23-06-2016. There were several representations from different traders and flexible Packaging Association of Converters of Pakistan, for determination of customs value of BOPLI Film a fresh. They claimed that the prices of BOPET film are showing down ward trend in the international markets, hence existing valuation ruling, which is over one year old is required to be revised in the light of High Sindh High Court Karachi’s orders dated 10.11.2015 in constitutional petition no. D- 6918/2015.
Since 90 days have passed and a number of representations were received from commercial importers and Flexible Packaging Association of Converters of Pakistan regarding values determined in the valuation ruling dated 23.6.2016, hence an exercise was initiated to re-determine the values of subject items.
Meetings with stakeholders and local manufactures were scheduled on 18.07.2017 and 08-08-2017 to discuss the current international prices of subject goods.