KARACHI: Directorate General, Customs Valuation, Director General Surriya Ahmed Butt, has decided to revise the Valuation Ruling No: 764/2015 on February 13, 2018, it is learnt.
According to the details, Director General Surriya Butt has said that the department was reviewing suggestions from importers to set new prices of cotton fabrics. She said that some valuations, which were issued in 2015, were being reviewed from the beginning.
Moreover, the valuations will be set in view of rising prices in the international markets. Sources said that a petition was submitted by the importers with Customs Valuation in which change in prices of cotton fabrics was requested.
Sources told that Valuation Ruling No: 764/2015 was issued on 7th October 2015. A meeting was held with the stakeholders on 9th January 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 known foreign manufacturers of the item in question through which the actual current value could be ascertained.