Chairman, Customs and Valuation Sub-committee of Karachi Chamber of Commerce and Industry (KCCI), Mohammad Ali Jangda has suggested that the system of customs valuation of goods should be modernised, old and outdated valuation rulings should be cancelled.
According to sub-committee report, he said that customs valuations are creating a lot of problems for business and trade community and noted that trade and industry suffers from heavy losses in the shape of demurrage charges due to delay in customs clearance of goods. He said on the one hand delay in clearance of goods wastes time of business community and on the other, leads to imposition of demurrage.
He suggested that customs clearance of goods should be completed within minimum number of days so that cost of doing business could be reduced and losses of business community may be minimised. He further suggested that demurrage should not be charged if examination and processing is required for the consignment and should only be imposed after every kind of processing is completed.
He noted that currently the consignments meant for Afghanistan transit trade are not examined and monitored. It is recommended that each and every consignment under ATTA should be examined and tracked to ensure that it reaches its destination. He pointed out that tariffs in Pakistan are on the higher side which should be rationalised to curb smuggling and illegal trade. Besides, he said increase in cost of doing business renders Pak products uncompetitive.
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