Tyre industry says not being consulted on ITP valuations

KARACHI: Local tyre industry expressed its deep concern for not being consulted on recently issued ITP valuations VR-1958 & VR-1959 dated 17-1-2025.

“As a local tyre producer and one of the major stakeholders in the industry, we wish to highlight that in light of the recent ITP valuation, we were unfortunately not consulted.

“This lack of consultation is concerning and undermines the contributions of local manufacturers,” stated Hussain Kuli Khan, Chief Executive Officer/MD of GTR, in a letter to Director General of Customs Valuation.

He mentioned that “local tyre industry has a capability to fulfil the country’s tyre demand as we produce 80 percent of the sizes that are in demand, meeting the Original Equipment Manufacturers (OEM) strict quality requirement and supplying tyres to the replacement market.”

“This contributes significantly to saving foreign exchange, creating employment, and increasing tax revenue for the government exchequer,” reasoned Hussain.

He added that “as local tyre manufacturer our input is also vital in setting up ITP values and your good office [Customs Valuation] used to invite GTR along with different stakeholders.

“But unfortunately in the last two valuation meetings we were not contacted. We strongly urge you to take us in confidence and ensure that our feedback is also taken into account during such meetings,” said Hussain.

He requested the DG Customs Valuation to provide an opportunity for a meeting to discuss their point of view and take appropriate action to support the local tyre industry.

Copyright Business Recorder, 2025