KARACHI: Directorate General of Customs valuation has revised the customs values of Ferro Manganese, Silicon & Silicon Manganese vide valuation ruling No.715 / 2015.
According to details, M/s. Pakistan Steel Melters Association and importers filed representations in the Directorate to revise the values as these need to reflect the current price trends in the international market.
After review proceedings, an order was issued with the direction to revise current valuation ruling, an exercise was initiated for redetermination of customs values for Ferro Manganese, Silicon & Silicon Manganese.
Ferro Manganese, Silicon & Silicon Manganese per metric ton LMB prices for Europe and Asian Metal Bulletin prices values for Asian countries would be assessed for duty and taxes at the following rates: The customs values of Ferro Manganese of Europe, China, India & Vietnam origin will be $45, Ferro Silicon of Europe, China, India & Vietnam origin will be $45 and Silicon Manganese of Europe, China, India & Vietnam origin will be $45.