Customs valuation office in Lahore soon to help local traders on cost details of Chinese goods

Gwadar Pro

Lahore: Director General Customs Valuation Dr Farid Iqbal Qureshi has announced that Customs valuation office will be made operational in Lahore soon to help the local traders on cost details of the imported Chinese goods.

In a meeting with the businesspersons at the Lahore Chamber of Commerce and Industry (LCCI), the DG added that till opening of the Lahore office, they can join customs valuation meetings through zoom. “We have always a space for dialogue to promote national trade,” he stated.

Iqbal mentioned that the fixing of values of goods was an immense challenge but the department was dealing it in a winsome manner. “Customs Valuation department has an open-door policy for addressing all the grievances of the business community,” he maintained.

DG Customs Valuation informed that the department has to consider the directions of the government and issues like under invoicing whilst evaluation of the goods. He said that the evaluation was being determined by looking at the average international price of the goods.

The DG remarked that the department also conducts market surveys. He dispelled the impression that the Customs Valuation department done surveys only at mega stores saying that they also conduct surveys for wholesale markets to evaluate prices.

LCCI President Mian Nauman Kabir said it was the routine practice that majority of the meetings regarding valuation were held at Karachi.

He pointed out that the methodology of determining the cost is difficult as the department has no data of cost of manufacturers in China was available which makes the things difficult.

Kabir believed that these meetings should also be convened at Lahore as many importers and concerned businessmen belong to Lahore and its surrounding cities and were dealing in Chinese goods.

Kabir underlined that sometimes import shipments were assessed for valuation on retail price of imported commodities which was always higher than the wholesale price.

“The Customs must understand that containers are booked in bulk and cut-rate prices are mentioned in import documents,” he contended.

He opined that the Customs officials issue the valuation ruling on the basis of market inquiry. He recommended that the key parameters and the procedure of market inquiry should be properly notified to bring more transparency in the valuation process.

LCCI President Mian Nauman Kabir and Vice President Haris Ateeq also spoke on the occasion while Executive Committee Members Mian Ateeq-ur-Rehman, Shahid Nazir, Shahzad Butt, former Senior Vice President Khawaja Khawar Rashid, Vice Presidents Kashif Anwar and Zeshan Khalil were present during the meeting.