KARACHI:- Taking notice of the delay in deciding a review application against valuation ruling, a division bench of High Court of Sindh on Friday ordered release of consignment of rubber against payment of differential amount of custom duty with Nazir of the court in the form of a bank guarantee.

The bench was hearing a constitution petition filed by Hamza International against Chairman FBR, Collector Customs, East and West and Director General Valuation. They maintained that they imported Natural Butadiene Rubber or NBR, which falls within PCT 4002.5900 and valued at US $ 1.6 but between import and landing, Customs issued a new Valuation Ruling 571/ 2013 enhancing value to US $ 2.80. The international market prices continue to decrease but the customs fail to acknowledge the same and since two years consignment is being held by the customs and with more consignments arriving and stuck up due to valuation dispute petitioner maintains he was facing loss in terms of demurrage and clients as onward supply is being badly affected.

The counsel for custom opposed the plea at which the bench expressed annoyance. The customs should have issued a new Valuation Ruling or decide the review application. Hundreds of identical petitions burden us, the court said observing that it has the power to decide the petition even without issuing a notice.

Justice Junaid Ghaffar, junior member of the bench dictating the order while recording the arguments by the counsel for Pakistan Customs, Valuation said that matters of identical nature pertaining to the Directorate of Valuation are over burdening the court while the same could have been decided at departmental level.

The court ordered attendance of Director Valuation and Collectors Customs of East and West on Nov 08.