The Chairman of Pakistan Soap Manufacturers Association (PSMA), Abdullah Zaki, demanded withdrawal of Valuation Ruling of Sulphonic Acid so that all consignments of Sulphonic acid arriving from different countries should be assessed at a declared value.
He denounced the Valuation Ruling Number 999/2016 dated 22-12-2016 regarding Sulphonic acid issued from the office of the Director of the Customs Valuation Karachi.
He said that Sulphonic Acid was a major raw material for soap industry, its origin-wise price revolved from $950 PMT to 1050 US dollars PMT in the international market. He complained that the Customs authorities had been assessing the same at $1250 PMT (which was sort of a benchmark they have set) instead of the actual invoice value. He said it was totally unjustifiable.
He said that as per instructions of Director of the Customs Valuation, all stakeholders such as the members of PCDMA, commercial importers, manufacturers of Sulphonic acid and representatives of our Association held a meeting on December 17, 2016 in order to come on an agreeable price.
"All agreed amicably that the assessable value of Sulphonic acid imported from all origins such as Korea, Taiwan, China and India et cetera should be US $1160 PMT but Director Customs Valuation Wasif Ali Memon did not care the price unanimously recommended by all trade bodies," he said making it clear that if the Valuation Ruling was not withdrawn immediately, they would go to the Court of law against it.