KARACHI: The Director General, Customs Valuation rejected a revision appeal filed by a local importer of dairy products against custom value determined vide Valuation Ruling no 708/2015. The valuation order was passed by the Director (Customs Valuation) Karachi impugned in the instant revision. The petitioner Ghani Corporation questioned the valuation on ground that prices of several commodities including Skimmed Milk Powder (SMP) has slumped by 50 per cent and while determining custom value this fact shall be duly considered. The petitioner company maintained that under the impugned Valuation Ruling, the price for SMP imported from Iran has been taken as $2.00 to $2.00 CNF Karachi but the actual price is still lower than the determined price. The petitioner contended that world wide price of SMP at present is between $1.85 to $ 2.00 but price in case of Iran is about $1.50 per kg CNF. A downward revision in custom duty was requested also on ground that irrational valuation promote smuggling while a rational valuation would be in the interest of both importers as well as government in the form of increased duty collection. The Directorate of Customs valuation responding to the submissions by the petitioner company rebutted the same and maintained that valuation was rational and uniform and assertions by the petitioner company are void and contrary to law. It was also submitted that custom value of imported SMP was determined while considering downward trend vide Valuation Ruling no 713/2015 and that a market enquiry was also conducted before determining custom value of SMP of Iranian origin. The Director General, Custom Valuation Samaira Nazir Khan after examining the record and considering the arguments advanced by both sides in her order dismissed the revision holding that the respondent department adjudged the custom value considering the downward trend of prices and hence valuation is proper and legal.