DG Customs Valuation restarts database values of imported goods

KARACHI: Director General of Customs Valuation has restarted the exercise of developing database values of importable goods after a short gap.

Directorate General of Customs Valuation has initiated an exercise to develop database values for about 2000-3000 different items which are not commensurate with international price trends.

An exercise was initiated to develop database values for different items wherein it has been observed that declarations are wide range and do not correctly reflect values of the items as traded in international market.

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.

During the scrutiny of previous clearance of data, it was observed that hot fix sheet with glass chatons falling under PCT 7018.1000 is being assessed at different values and certain transactions are on very low side.

After carefully examining the clearance data and conducting market inquiries, the reference values or valuation guidelines are issued suggesting the values at $5.5/kg for hot fix sheet with glass chatons

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