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Surriya to revise Valuation Ruling No: 789/2016 on 29th

Surriya to revise Valuation Ruling No: 789/2016 on 29th

KARACHI: Directorate General, Customs Valuation, Director General Surriya Ahmed Butt, has decided to revise the Valuation Ruling No: 789/2016 on 29th of September, it is learnt here.

Director General Surriya Butt has said the department is reviewing suggestions from importers to set new prices. She further said some valuations, issued in 2016, were being overviewed from the beginning.

Moreover, the valuations will be set in view of rising prices in the international markets.

Sources told CT that a petition was submitted by the importers to Customs Valuation in which changes in prices of whey powder and permeate whey powder was requested. Sources said the Valuation Ruling No: 789/2016 of infusion giving set was issued on January 08, 2016.

A meeting was held with the stakeholders on 8th of September, 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 items in question through which the actual current value could be ascertained.

Source said that from next month only 10 previous valuations will be revised according to the suggestions from importers to set new prices.