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DG Valuation to revise valuation of sweet corn, canned pineapple & fruit on March 8

DG Valuation to revise valuation of sweet corn, canned pineapple & fruit on March 8

KARACHI: Directorate General, Customs Valuation, Director General Surriya Ahmed Butt has decided to revise the Valuation Ruling No: 856/2016 on March 8, 2018, it is learnt.

Director General Surriya Butt has said that the department was reviewing suggestions from importers to set new prices of sweet corn, canned pineapple and fruit cocktail. She said that some valuations, which were issued in 2015 and 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 sweet corn, canned pineapple and fruit cocktail was requested.

Sources told the Valuation Ruling No: 856/2016 was issued on May 23, 2016.A meeting was held with the stakeholders on January 18.

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.