Director General (DG) Customs Valuation Karachi, Mirza Mubashir Baig, has said that Customs is addressing issues holistically, employing technology adoption as the primary tool to resolve grievances and complaints of the business community in a fair and transparent manner.
He mentioned that the department aims to reduce the review time gradually from 30 days and solicited the cooperation of traders to achieve this goal.
Regarding letters from the federal tax ombudsman (FTO), he noted that comments are required within one to two weeks, with 45 days allotted for resolution. He assured that all correspondence from the esteemed office of FTO receives prompt and careful consideration.
Federation of Pakistan Chambers of Commerce Industry (FPCCI), President, Atif Ikram Sheikh stated during the DG Customs Valuation’s visit to FPCCI in Karachi, that they agreed in principle to collaborate to reduce the review time from 30 days to as short as possible. This is crucial to facilitate the country’s trade and industrial production, which is essential for job creation, revenue generation, and economic growth.
He underscored the business community’s desire to see the review time for custom valuation reduced to seven days, which they intend to propose as part of FPCCI’s suggestions for the federal budget 2024–25.
Sheikh highlighted that fluctuations in custom valuation lead to volatility and uncertainty in industrial planning, production, and exports. Any delays in custom valuation result in unfair demurrages and detention charges for importers, causing financial losses that can be mitigated through improved communication between the customs department and the business community.
He also pointed out that technological advancements, particularly in digitalisation, have transformed shipping and customs practices globally, reducing the need for upfront payments. He urged the customs department to address liquidity blockages faced by the business community, especially in times when access to finance is severely restricted in Pakistan due to the 22% key policy rate.
Published in The Express Tribune, March 8th, 2024.
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