KARACHI: The Directorate of Customs Valuation has revised the customs values of various chemicals Iso-Propyl Alcohol, N-Propanol, Cyclohexanone, Ethoxylated Nonyl Phenol, ISO-Butanol, N-Butanol and Phenol vide Valuation Ruling No.1156/2017.

The custom values of the subject chemicals were determined vide Valuation Ruling No 920/2016. Since Customs values of several items of the Valuation Ruling No 920/2016 was linked with applicable average ICIS Scan CRP prices, therefore there were several representations from importers, Clearance Collectorate and Pakistan Chemicals and Dyes Merchants Association (PCDMA), that ICIS Scan is not readily available to all therefore they requested to re-consider the linking of customs value of aforesaid items with ICIS Scan.

They requested that it will appropriate to determine the applicable customs values a fresh. Moreover the importers have requested to revise the prices of subject chemicals in accordance with the prices in the International market.