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DG Valuation Surriya to revise VR No 881/2016 on January 22

DG Valuation Surriya to revise VR No 881/2016 on January 22

KARACHI: Directorate General, Customs Valuation, Director General Surriya Ahmed Butt, has decided to revise the Valuation Ruling No: 881/2016 on January 22, 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  woven/knitted furnishing (sofa & curtain fabric and coated fabric (flocking sued) . She said that some valuations, which were issued in 2016, were being reviewed from the beginning.

Moreover, the valuations will be set in view of rising prices in the international markets. Sources told that a petition was submitted by the importers to Customs Valuation in which change in prices of wooven/knitted furnishing (sofa & curtain fabric and coated fabric (flocking sued) was requested.

Sources said the Valuation Ruling No: 881/2016 was issued June 29, 2016. A meeting was held with the stakeholders on 12.12.2017.

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.