KARACHI: Directorate General of Customs Valuation has circulated certain valuation guidelines for the notice of all formations about the prevailing international price trend of several importable goods in the first phase, while several more to follow.

Chairman FBR Nisar Mohammad Khan has tasked Director General Customs Valuation Syed Tanveer Ahmed to streamline the customs values of all importable goods particularly from China, as there has been gross under-invoicing of imports from China.

It may be mentioned here that there has been a huge disparity between the import figures at Pakistan Customs and export number of China Customs in a similar period of time, which suggests that imports from China are being largely under-invoiced resulting in revenue loss to the country.

Chairman FBR tasked the DG Customs Valuation to develop database values of importable goods, so that under-invoicing could be eliminated. Syed Tanveer Ahmed has efficiently initiated the exercise and formed a team comprising four high-profile appraising officers Farhan Mehdi,  Noor alam Durrani, Aurung Ali Shah and Raja Mohammad Aslam. Team is headed by Syed Tanveer while Additional Collector Imran Sajjad Bukhari and Deputy Collector Rizwan Bashir are supervising the team.

The team is verifying the international price trend of around 3,000 items and several valuation guidelines i.e. reference rates of goods have been circulated to all formations. Data regarding quantum and valuation of imports, origin of goods etc., are being examined.

During the scrutiny of previous one-year data, it has been observed that a number of goods are being assessed at various collectorates on values much lower than the prevailing prices in the international market.

The Director General after carefully examining the clearance data also conducted market inquiries to verify the price trend of different importable goods.

According to Reference values/valuation guidelines, the assessable values of rubber erase (simple/plain low end brands) under PCT 4016.9210 & 4016.9290 are $1.5/KG; rubber eraser (fancy – assorted shapes, toys) at $3.2/KG and rubber eraser (high end brands Pelikan, Millan) at $4.0/kg.

The reference assessable values of crinkled paper of all origins are mentioned at $2.15/KG. Reference assessable values of adult/patient diapers (9619.0010) high-end brands – EQ, Huggies, excluding Pampers) of all origins are $2.95/KG. Reference values of adult/patient diapers (9619.0010) low-end brands of China at $2.0, of Indonesia, Malaysia, UAE at @2.7/KG, of Turkey at $2.20/KG, of Vietnam at $1.90, other brands at $2.7/KG.

Reference values of non alloy steel strips (7211.2990 & 7211.9090) of China at 0.81/KG, of Korea at $0.86/KG, of Europe/America at $0.92/KG. Reference values of nylon rope (5609.0000) of china are $2.6/KG.

Reference values of cotton waste (5202.9900) in bales are $0.9/KG and in hosiery at $1.3/KG of all origins. Reference values of Children Umbrellas of China are mentioned at $2.25/KG, fiber/plastic umbrellas at $2.25/Kg, umbrella with folding frame/other metal frame at $1.3/KG and umbrella in shape of walking stick at $1.0/KG.

These reference values are for guidance and formations are advised to make final assessment after considering factors which have bearing on the customs value.