KARACHI: The Pakistan Economy forum has criticized the valuation guidelines issued by Collector Appraisement-South pertaining to 96 items for which the rulings had been lost.
Arshad Jamal, Chairman Pakistan Economy Forum, termed the valuation guidelines/rulings issued by Collector Appraisement-South as illegal.
Jamal said that there already was a Directorate General of Valuation, which issued the valuation rulings as per the rules, regulations and the defined process. Hence, these 96 rulings had no legal standing.
Jamal further argued that issuing valuation guidelines was beyond the jurisdiction of Collectorates adding that these 96 rulings as well as the valuation guidelines/rulings issued by all the other collectors had no legal standing.
Jamal maintained that these guidelines/rulings pertaining to 96 items were flawed; missing country of origin and missing correct classifications.
Quoting few instances, Jamal said that the garment lace was provided under Chapter 54 which defines customs duty at 15% while the correct classification was under Chapter 58, which defines the customs duty at 25%.
Similarly, textiles raw material had been valued more costly than the finished goods.
Giving another example he said that cotton blended was not at all a definition in the customs tariff; there were two HS codes, one for less than 85% cotton providing customs duty at 15% and for more than 85% cotton providing customs duty at 25%.
Jamal said that if the valuation rulings issued by Collector Appraisement-South were implemented, it would seriously hurt revenue collection while at the same time it would promote dry ports and smuggling.
Pakistan Economy Forum term valuation rulings issued by Appraisement south as illegal, flawed
