ISLAMABAD: The Directorate of Customs Valuation Lahore has fixed customs value of $130 per metric ton (PMT) on the export of Pink Rock Salt.

In this regard, the directorate has issued a new valuation ruling on Wednesday.

According to the ruling, Directorate of Customs Valuation Lahore received directives from the Director General Valuation, Karachi, to issue Valuation Ruling concerning the customs export value of Pink Rock Salt. Consequently, an endeavour was initiated by the Directorate of Customs Valuation Lahore to determine the said value in terms of section 25A read with sub-section 15 of section 25 of the Customs Act, 1969.

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A meeting was convened which was attended by the stakeholders including, representatives from Trade Development Authority (TDAP), Federation of Pakistan Chambers of Commerce & Industry, Salt Manufacturers Association of Pakistan (SMAP), and exporters of Pink Rock Salt. The issue pertaining to the valuation of subject good was deliberated upon in detail in the referred meeting. Some stakeholders submitted their proposal for consideration and the same thoroughly perused pertaining to the valuation of Pink Rock Salt.

The documents submitted by the stakeholders, arguments submitted during the meeting, price trends and exports data from Pakistan Revenue Automation Limited (PRAL) were also examined for determination of customs export value of the subject good.

The section 15 of Section 25 of the Customs Act, 1969 was followed to determine the export value at hand in terms of Section 25A of the Customs Act.

Therefore, export data, market survey, international market trends and documents submitted by stakeholders were examined to arrive at customs export values of Pink Rock Salt, ruling added.

Copyright Business Recorder, 2024