Ferro Manganese, Ferro Silicon, Silico Manganese: Customs values on import revised

ISLAMABAD: Directorate General of Customs Valuation Karachi has issued new Customs values on the import of Ferro Manganese, Ferro Silicon and Silico Manganese, which are used in steelmaking from all origins.

The directorate has issued a ruling for fixation of Customs Values (C&F) of these items on the basis of LMB price plus US$ 60(on account of freight) per metric ton.

According to the ruling, earlier Customs value of Ferro Manganese, Ferro Silicon and Silico Manganese determined vide Valuation Ruling was considerably old, it needed to revision to reflect the current price trend prevailing in international market of these goods especially the freights. This prompted an exercise to re-determine Customs values of the afore stated goods under Section 25-A of the Customs Act,1969.

Meeting was scheduled on February 13, 2025, no one appeared nor any documents submitted by the stakeholders. However, the Directorate initiated an exercise to determine the fair Customs values of subject goods.

The valuation methods, provided in Section 25 of the Customs Act, 1969, were applied in sequential order. The transaction value method as provided in sub-section (l) of Section 25 of the Customs Act, 1969, was found inapplicable as declared values do not correspond to market prices.

The values of identical and similar goods as per Sections 25 (5) & (6) ibid could not be solely relied upon due to absence of absolute demonstrable evidence of qualities and quantities of commercial level etc.

In line with the statutory sequential order of Section 25, this office conducted market inquiries under SubSection (7) of Section 25 of the Customs Act, 1969, but could yield no results as prices varied significantly. The values were work out by applying the methodology under Section 25(8) of the Customs Act, 1969, after taking LMB prices of the main constituent materials. i.e. Wire rod with value addition on account of conversion cost and freight.

Finally, clearance data of similar/identical goods, market information from surveys, online information as well as values from internationally acclaimed publications etc. as provided under Section 25A ibid so gathered have been utilized and analyzed for determination of Customs values of the subject goods under Section 25(9) of the Customs Act, 1969 read with Customs Rule l2l(2) of the Customs Rules, 2001, it added.

Copyright Business Recorder, 2025