New units of measurements: Customs revise valuation rulings for 970 imported items

Pakistan Customs has revised valuation rulings for 970 imported items as per new units of measurements.

This was informed by Mukarram Jah Ansari, Director General Customs Valuation (DGCV) at a seminar on "Rationalization of Units of Measurements and Valuation thereon" held at the Directorate General of Training & Research (Customs), here Wednesday.

He said that DGCV had rationalized the units of measurements to modernize the working of customs as per international best practices, which he termed as right step to the fore.

Earlier, FBR Chairman Syed Shabbar Zaidi through his tweets appreciated the customs department, stating that: "I am pleased to inform that FBR have completely changed the valuation system at customs stage. Now we are in line with international best practices for appraisement. A paradigm change and positive effect for industry and trade will arise."

Presiding over the seminar, member, customs operation Jawwad Uwais Agha said that it was necessary to bring the same as per recommendations of World Customs Organization (WCO) as well as international/national trade practices to make uniformity in assessment of imported goods.

He said that FBR has achieved a milestone by discarding obsolete system of measuring the goods on weight basis and now the same would be assessed as per normal market practices. He also lauded the trade bodies for showing interest in newly introduced scheme and assisted the department in the revision of valuation rulings of goods.

He also assured the trade bodies that the DGCV and Collectorates would be available to remove anomalies, if any, in the rulings to make these changes facilitative and in line with trading practices for larger economic interest of the country.

Earlier, in his inaugural address, Faiz Ahmad, Director General Customs Training, highlighted the critical significance of rationalization of units of measurements and its linkage with valuation.

A large number of customs officers, representatives from FPCCI, Karachi Chamber of Commerce, customs clearing agents and others attended the seminar.