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New Customs values of cosmetics, toiletries issued

New Customs values of cosmetics, toiletries issued

KARACHI: The Valuation Department of Pakistan Customs has issued new Valuation Ruling (VR) No 596 of the cosmetics and toiletries products in just 25 days after the issuance of previous VRs No 588, 589 and 590.

The Valuation Department had issued VRs No 588, 589 and 590 of the cosmetics and toiletries items on Sept 30 after conducting a market survey with an increase of the previous prices.

Subsequently, the importers have expressed their deep concerns over the issuance of VRs No 588, 589 and 590 and termed such VRs a sheer injustice with the importers. They said, “The import of the cosmetics and toiletries products would be badly suffered by the increase in the prices of such items.”

The importers were of the view that the smuggling would be enhanced by the increase in the prices of cosmetics and toiletries items, adding that the issuance of VRs No 588, 589 and 590 would not help improve the national exchequer.

Sources informed Customs Today that the Director Customs Valuation was in pressure in order to withdraw the said VRs. They further said that the Director Customs Valuation Department and other officials concerned had already decided to withdraw the VRs No 588, 589 and 590.