KARACHI: A decision regarding valuation of readymade garments is scheduled for August 31, 2016, as acting DG Valuation Abdul Rasheed Shaikh and garment importers, clearing agents would again meet on month end.
Readymade garment importers seek revision in Valuation Ruling No. 886/2016 and in this regard, a meeting was held with Abdul Rasheed Shaikh.
A delegation of All Pakistan Garments Importers Association (APGIA) and All Pakistan Customs Agents Association (APCAA) held a meeting with Advisor Finance Haroon Akhtar Khan on Wednesday regarding customs values of garments fixed by the Customs.
Jalal Mehmood Khan and Mohammad Sajid of APGIA explained that the values of readymade garments had been enhanced by 200-800 percent without consultation and input of stakeholders, which also were not in line with the valuation methods prescribed by the Customs Act.
Arshad Jamal representing APCAA said garment importers were already paying high duty/taxes and with the notified values, legitimate importers would stop importing the goods. This would open way for smuggling of these goods and government would be deprived of its revenue.
President APGIA Muhammad sajid, Faisal shezad president Rawalpindi garments association, M. Fiaz and Shaikh muneer of Lahore Shah Alam market endorsed the arguments.
Haroon Akhter listened to all participants in detail and issued directives to acting DG Customs Valuation Abdul Rasheed Shaikh to address the issue.