KARACHI: Director Customs Valuation Karachi Iqbal Muneeb has revised the Customs values of chemicals ethyl acetate, methyl acetate and sec. butyl acetate vide Valuation Ruling No.1272/2018.

The Customs values of subject chemicals were earlier notified vide Valuation Ruling No.1023/2017. There were several representations from importers and Pakistan Chemicals and Dyes Merchants Association(PCDMA) wherein they contended that customs values determined in the existing ruling are not reflective of prices in the international market. Therefore, an exercise was initiated to determine the values of the goods afresh.