AIRLINK 60.84 Increased By ▲ 1.14 (1.91%)
BOP 6.32 Increased By ▲ 0.06 (0.96%)
CNERGY 4.32 Increased By ▲ 0.05 (1.17%)
DFML 15.91 Increased By ▲ 0.21 (1.34%)
DGKC 69.12 Decreased By ▼ -0.08 (-0.12%)
FCCL 18.11 Decreased By ▼ -0.24 (-1.31%)
FFBL 26.37 Decreased By ▼ -0.38 (-1.42%)
FFL 9.18 Decreased By ▼ -0.10 (-1.08%)
GGL 10.21 Decreased By ▼ -0.09 (-0.87%)
HBL 117.06 Increased By ▲ 1.16 (1%)
HUBC 114.31 Decreased By ▼ -0.09 (-0.08%)
HUMNL 6.87 Increased By ▲ 0.07 (1.03%)
KEL 4.87 Decreased By ▼ -0.02 (-0.41%)
KOSM 5.36 Increased By ▲ 0.71 (15.27%)
MLCF 38.50 Increased By ▲ 0.11 (0.29%)
OGDC 123.33 Decreased By ▼ -1.97 (-1.57%)
PAEL 21.78 Increased By ▲ 0.22 (1.02%)
PIAA 11.80 Increased By ▲ 0.93 (8.56%)
PIBTL 6.08 Increased By ▲ 0.06 (1%)
PPL 113.07 Decreased By ▼ -1.03 (-0.9%)
PRL 28.22 Increased By ▲ 0.32 (1.15%)
PTC 11.39 Increased By ▲ 0.49 (4.5%)
SEARL 51.91 Increased By ▲ 0.21 (0.41%)
SNGP 67.35 Decreased By ▼ -0.91 (-1.33%)
SSGC 11.29 Decreased By ▼ -0.13 (-1.14%)
TELE 7.78 Decreased By ▼ -0.02 (-0.26%)
TPLP 11.54 Decreased By ▼ -0.06 (-0.52%)
TRG 71.72 Decreased By ▼ -1.15 (-1.58%)
UNITY 23.04 Decreased By ▼ -0.51 (-2.17%)
WTL 1.29 Decreased By ▼ -0.01 (-0.77%)
BR100 6,717 Increased By 68.3 (1.03%)
BR30 22,517 Decreased By -52.7 (-0.23%)
KSE100 65,326 Increased By 747.2 (1.16%)
KSE30 22,146 Increased By 256.6 (1.17%)

LAHORE: Member Customs Operations, Federal Board of Revenue Zeba Hai has said that working to bring main items into valuation ruling net is well on the way. There are problems not only with smuggling but also with regard to mis-invoicing. The percentage data is not available but virtual assessment has been started.

While talking to LCCI President Kashif Anwar at Lahore Chamber, she said that valuation is very important. She said that they are looking at the issue of exemptions in FATA. Implementation of rules and regulations should be taken seriously. She said that the focal persons would be appointed and a classification committee would also be established in North.

LCCI President Kashif Anwar said that the Customs Department and the business community should work together to promote business activities in the country. He said that the condition of keeping the documents in consignment has been removed in federal budget 2023-24 which has given a relief to the importers.

He said that the repeated issuance of customs valuation rulings on some items by the Directorate General of Customs valuation causes concern in the business community. In this regard, the business community may be informed about the criteria.

LCCI President said that according to some of our members who are related to Steel, Banaspati ghee (edible oil) and foam industry etc. the facility of exemption given to FATA/PATA is being misused and adversely affecting industries outside FATA/PATA.

According to our members from some sectors, especially used machinery and used auto parts, the process of declaration of goods at dry ports takes a lot of time which should not be exceeded from 48 hours.

Kashif Anwar said that when the container is released from the port, its documents are also checked by the enforcement agencies, there is no need for re-checking.

He said that under SRO 492, the re-export period of carpets temporarily imported for repair/rewash/refinish has been reduced from 18 months to 6 months. It takes a lot of time as the entire process is done by hands without the use of any machinery so that the period of 18 months should be restored.

He said that smuggling should be controlled through border management. He said that imported industrial machinery comes with components and accessories while spare parts are not included which have to be imported separately later. Karachi Customs insists on import of spare parts along with machinery which is not possible.

He said that the spare parts should be classified in the HS code of machinery and assessment should be done accordingly.

President of Lahore Chamber said that customs valuation has been increased by 100% on the import of certain crockery items this year by the Customs Valuation Department, it should be revised and if increase is required, it should be in a phased manner.

Copyright Business Recorder, 2023


Comments are closed.