KARACHI: Directorate General of Customs Valuation, Samaira Nazir Khan has rejected the revision petition against Valuation Ruling No.701/2014 related to the import of PET Metalized film and PET coated film as the revision petition lacked merit.
According to details, M/s Prostar Industries Ltd had approached DG Valuation for revising the customs value for Coated and Metalized PET films that were fixed at $ 2.15 and $ 2.25 per kg consecutively. The Importer submitted that the said Valuation ruling would create tremendous problems for local metallic yarn manufacturing industries because the rate fixed at $ 2.25 is very minute which will increase problems of local industry.
M/s Prostar, a local manufacturer, was of the view that the customs value for coated PET film and Metalized film should be fixed at $ 4.00 and $ 2.50 respectively.
Valuation department submitted that the subject issue relates to the Tariff commission and is out of their working scope. Moreover, the local manufacturer’s petitioners is not acceptable to the fact that it lacks documentary evidences.
Later, DG of valuations remarked that the decision taken by the respondent was in full conformity with all the material facts including the international prices of plastic raw material and hence termed that the decision was based on sound footings including input of all concerned stakeholders.
After considering all aspects of the case, the Director General Customs Valuation dismissed the review petition filed by M/s Prostar Industries Ltd as it lacked merit.