KARACHI: High Court of Sindh (SHC) on Tuesday ordered release of a consignment of Acrytonrile Butadiene Rubber (NBR) if the importer deposits differential amount of custom duty in the form of a pay order or bank guarantee with the Nazir of the court.

The bench earlier heard counsel for importer M/s Ever Shine International against Chairman FBR, Chief Collector and Collector Appraisement (MCC West). The importer claimed the levy of duty under Valuation Ruling 597/ 2013 at the values of $2.80 while the Customs demanded a higher valuation and higher amount of duty and detained the imported consignment until payment of all dues.

The petitioner moved the SHC on ground that due to steep fall in the petroleum products, the value of the goods in dispute all fell by 50 per cent. The Ruling 597/ 2013 lapsed after 90 days and FBR/Customs Officials are bound to pass a new valuation ruling based on actual prevailing price in the international market.

The bench after hearing the sides and on request of the respondents ordered release of consignment on deposits of differential amount between the disputed Ruling and the declared value with the Nazir of SHC.