Valuation fixed for methylene chloride

KARACHI: Pakistan Customs has assessed the customs values of methylene chloride up to $665 per MT for collection of duty and tax.
Directorate General of Customs Valuation on Tuesday said that the value of methylene chloride has been revised in order to reflect current prevailing prices of the international market.
The following valuations for different origins are included:
Methylene chloride of UK origin will be assessed at $665 per MT
Methylene chloride of Japan origin will be assessed at $620 per MT
Methylene chloride of Russia origin will be assessed at $610 per MT
Methylene chloride of all other origins will be assessed at $650 per MT
Meetings were held with stakeholders and representatives of Federation of Pakistan Chamber of Commerce and Industry (FPCCI) and Pakistan Chemicals and Dyes Merchants Association (PCDMA) on July 3, 2014 for discussing the current international values of methylene chloride.
Various methods were used for determination of values but consequently fall back method under section 25(9) ibid was applied.
A notification said that in case of consignment imported by air, the assessing officer shall take into account the differential between air freight and sea freight while applying the customs values determined in this ruling.
It is also informed that review petition may be filed against this ruling within 30 days from the date of issuance.
It said, “The collectors of customs may kindly ensure that the values given in the ruling for the given description of goods are applied by the concerned staff without fail and any anomaly observed may kindly be brought to the notice of Directorate General immediately.”

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