KARACHI: Director Customs Valuation Iqbal Muneeb has revised the customs values of various chemicals; Glycerin, Ammonium Bi Carbonate, Butyl Acrylate, Chlorinated Paraffin Wax (Liquid) and Calcium Carbide vide Valuation Ruling No.1246/2018.
Earlier the customs values of the subject chemicals were determined vide Valuation Ruling No. 1132/2017. There were several representations from commercial importers, local manufacturers and from Pakistan Chemicals and Dyes Merchants Association (PCDMA) wherein they contended that customs values determined in the existing valuation ruling are not reflective of prices in international markets. Keeping in view the prevailing prices of the subject goods, an exercise was initiated for determination of the Customs Values of the subject Chemicals.