KARACHI: Directorate of Customs Valuation has revised the customs values of caustic soda flakes vide Valuation Ruling No.1052/2017.

The custom values of the Caustic Soda flakes were earlier determined vide Valuation Ruling No 852/2016. There were several representations from different traders and trade bodies i.e. Pakistan Chemicals and Dyes Merchants Association (PCDMA) and Caustic Soda Manufacturers Association (CSMA), for determination of customs value of the Caustic Soda flakes afresh.

The local manufacturers have claimed that the prices of Caustic Soda flakes are showing upward trend in the International market hence existing valuation ruling, which is over nine months old is required to be revised in the light of High Court of Sind’s orders.

Since 90 days have passed and a number of representations were received from Caustic Soda Manufacturers Association,an exercise was initiated to re-determine the values of Caustic Soda Flakes.