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Customs valuation database questioned

RECORDER REPORT

KARACHI: The Pakistan Chemicals and Dyes Merchants Association (PCDMA) has questioned the authenticity of valuation database, drawn by Customs.

In a statement issued here on Wednesday, Mohammed Jehangir, the Chairman of the PCDMA, said the valuation database was converse to the GATT code system of valuation.

He observed that the database had been prepared on the basis of the highest assessed value, and this was against the basic principles of GATT code and was therefore not valid.

He further protested to the Customs authorities for preparing the database without holding consultation with the PCDMA for chemicals and dyes items. Pointing out lacunae in the new basis of valuation, Jehnagir said considerable difference would occur between the database and the declared value of consignments, opening new channels of corruption.

He proposed that under the GATT code of valuation, the imported goods should be accepted on the transaction value with reference to the revised database, and if the Customs authorities have any objection the prices should be verified from the concerned association.