KARACHI: Directorate of Customs Valuation has revised the customs values of Ethyl Acetate, Methyl Acetate and Sec- Butyl Acetate vide Valuation Ruling No. 1023/2017.
The values of the Ethyl Acetate were earlier determined vide Valuation Ruling No 646/2014. There were several representations from different importers/traders and trade bodies i.e. Pakistan Chemicals and Dyes Merchants Association (PCDMA), for determination of customs value of the methyl Acetate and Sec Butyl Acetate as well. Hence, existing valuation ruling which is over one year and ten month old is required to be revised in the light of High Court of Sindh.
Since 90 days have passed and representations were received from commercial importers regarding values determined in afore mentioned valuation ruling, an exercise was initiated to re-determine the values of Ethyl Acetate, methyl Acetate and Sec Butyl Acetate in the light of international price trend.