950805

Papgai backs

FPCCI stance on

PSI firms

RECORDER REPORT

KARACHI: The Pakistan Association of Printing and Graphic Arts Industry (PAPGAI) has endorsed the demand made by the President of FPCCI, S M Muneer for withdrawal of Pre-shipment Inspection (PSI) scheme.

In a press statement on Saturday, the Chairman of PAPGAI Budgetary and Taxation Sub-Committee, Ghias Ahmed demanded that the valuation system of the PSI companies should either be made transparent or their contracts should be cancelled.

The erratic valuation of PSI companies quoting different values for the same item at the same time in their CRFs was not only hampering imports, as the customs authorities reject CRF values and charge high levies, but was also adversely affecting exports as packaging and printing costs have also increased, he said.

He also urged the custom authorities to assess the value of imported material on merit and not on the basis of CRF.