KARACHI: Pakistan Customs has revised the valuation of skimmed milk powder at $4 per kilogram imported from Australia and New Zealand for the determination of duty and taxes, Customs sources said on Friday.
The valuation of the same milk on import from West Europe, Iran and other origins has been fixed at $3, $2.2 and $2.75.
The instant milk powder with vegetable fat on import of all origin has been fixed at $2/kilogram, respectively.
The sources said that the revision of the valuation was brought under consideration after valuation department received a letter from FBR along with a letter from M/s. Louis Dreyfus Commodities, Australia regarding fluctuation in the international of skimmed milk powder.
The customs authorities had taken on board the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and Karachi Chamber of Commerce and Industry to reach an agreed prices to implement the revise valuation.