Fazal Elahi, Vice President, Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has expressed serious concern over heavy under-invoicing in import of PVC pipes and fittings from China, Saudi Arabia, UAE and Turkey and called upon the government to check it so as to save some 450 small manufacturing units from closure.
In a press statement Fazal Elahi who is also former Chairman of PVC Pipes and Fittings Manufacturers Association said that the price of PVC resin, the raw material of the item in the international market was $870 per ton and if the cost of chemicals, energy involved in the manufacturing process and ocean freight charges are added the landed cost of the manufactured PVC pipes and fittings should he more than $1,540 per ton.
However, the value of the manufactured PVC Pipes and Fittings declared by the importers was as low as $90 per ton and it was assessed by the Customs at $150 per ton, which price was far below the value of $400 at which PVC scrap was being assessed by the Custom and even lower than the freight charges per ton, he added.
Fazal Elahi said that the same was the case with PPR Pipes and Fittings whose price in international market was $1,470. After including processing charges of $515 and freight charges of $250 its C&F price came to $2,235 but it was being imported and assessed at $280 per ton only. He called upon the government authorities to check the malpractice, which was seriously affecting the local industry.-PR
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