City to get customs valuation office

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A customs valuation office will be made operational in Lahore very soon, announced Customs Valuation Director-General Dr Farid Iqbal.

Addressing the business community at the Lahore Chamber of Commerce and Industry (LCCI) on Tuesday, he said that fixing of values of goods was a huge challenge but his department was dealing with it in an excellent manner.

“Customs valuation department has an open-door policy for addressing all the grievances of the business community,” he added.

The director general said that the department had to consider the directions of the government during evaluation of the goods. He added the wing was particularly focusing on the issue of under invoicing.

According to him, evaluation was conducted by keeping the average international price of goods in view.

He said that the methodology of determining the cost was difficult because the department had no data of goods of some foreign countries such as China.

He asked the businessmen to join customs valuation meetings through zoom until the valuation office was launched in Lahore.

“We always have space for dialogue to promote national trade,” he claimed.

Speaking on the occasion, LCCI President Mian Nauman Kabir said majority of valuation meetings were held in Karachi.

He stressed to convene such meetings in Lahore as well given that many importers and concerned businessmen belonged to Punjab.

“Import shipments are assessed for valuation on retail price of imported commodities which is always higher than the wholesale price,” he pointed out. “Pakistan Customs must understand that containers are booked in bulk and cut-rate prices are mentioned in import documents.”

 

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