KARACHI: Director General Customs Valuation Syed Tanveer Ahmed devised a plan to streamline values of importable values to check under-invoicing, which is not only causing revenue loss to the exchequer, but it also has deprived the local manufacturing of level playing field.
Directorate General of Customs Valuation has initiated an exercise to develop database values for different items wherein it has been observed that declarations are wide range and do not correctly reflect values of the items as traded in the international market.
The reference values of Citric acid Monohydrate under PCT 2918.1400 are fixed at $0.7/kg.
The reference values of Citric acid Monohydrate under (pharmaceutical grade) under PCT 2918.1400 are fixed at $1.0/kg.