Customs values of Ring Travelers revised

KARACHI: Directorate of Customs Valuation has revised the values of Ring Travelers vide Valuation Ruling No. 959/2016. Ring travelers are used in textile mills around the world to process yarn.

Customs Values of Ring Travelers were earlier determined vide Valuation Ruling No.400/2011. The Ruling required revision in line with the prevailing prices in the international market.

Therefore, Director Wasif Memon formed a team comprising Additional Director Iqbal Muneeb, Deputy Director Rizwan BAshir, Principal Appraiser Iqbal Ali and Valuation Officer Altaf Mangi to determine the values of Ring Travelers afresh.

The customs values of ring travelers assorted types/sizes under PCT 8448.3110 of Switzerland are fixed at $120/kg, of France at $100/kg, of Japan at $80/kg, of Germany at $80/kg, of India at $60/kg, of China at $55/kg and other origins at $70/kg.

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