Importers demand valuation office

Say 90-day valuation period creating difficulties


Our Correspondent May 27, 2021

LAHORE:

Fast moving consumer goods (FMCG) industry stakeholders have proposed the establishment of a Customs valuation office in Lahore.

In a statement on Wednesday, Pakistan FMCG Importers Association (PFIA) called for taking up the proposal during a valuation meeting scheduled to be held in Karachi to decide duty rates.

In its proposals for the budget, the PFIA stressed the need for holding a meeting in Lahore before the valuation meeting in Karachi so that the proposal of setting up the office in Lahore could be considered.

PFIA Senior Vice President Ejaz Tanveer said that the 90-day valuation period was creating difficulties for the legal importers of goods and encouraging smuggling.

“Business deals, leading to the purchase of goods in foreign countries and shipments to Pakistan, take a lot of time and in most cases berths are not allotted to ships at Karachi Port,” he said while expressing concern. “While working to get berths, the 90-day valuation period lapses and the Customs department changes duty rates for goods which, in turn, causes losses to importers.”

Published in The Express Tribune, May 27th, 2021.

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