Valuation guidelines issued

KARACHI: The Directorate General of Customs Valuation is actively pursuing ‘Tanveer Plan’ and the development of database values and issuance of reference values of importable items have started yielding results.

Director General Customs Valuation Syed Tanveer Ahmed devised a plan to streamline values of importable values to check under-invoicing, which is not only causing revenue loss to the exchequer, but it also has deprived the local manufacturing of level playing field.

Directorate General of Customs Valuation has initiated an exercise to develop database values for different items wherein it has been observed that declarations are wide range and do not correctly reflect values of the items as traded in the international market.

The reference values of basket made of cane under PCT 4602.9000 of China are fixed at $1.8/kg. The reference values of Glassine paper in sheet under PCT 4806.4010 of China are fixed at $0.85/kg.

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