ISLAMABAD: The Directorate General of Customs Valuation Karachi has revised customs values of Latex Rubber threads being imported from China, Malaysia, and Thailand.
According to a valuation ruling issued by the Directorate on Friday, the Customs values of Latex Rubber threads were determined under Section 25A of the Customs Act, 1969 vide Valuation Ruling No.1822/2023. However, representations were received from different stakeholders to re-determine the values afresh in line with the prevailing international prices. Therefore, an exercise has been undertaken by this Directorate to determine the fresh Customs Value under Section 25A of the Customs Act, 1969.
The issues pertaining to the valuation of subject goods were deliberated upon in detail in the afore-referred meetings. The stakeholders contended that the prices of the said items have shown a downward trend and requested to rationalise the Customs Values in line with the prevalent international trends. They submitted their proposals for consideration, and the same were considered pertaining to the valuation of subject goods.
The viewpoints of all relevant stakeholders were thoroughly examined during the course of proceedings, ensuring that each party’s concerns and recommendations were duly considered. In order to ensure objectivity and accuracy, a comprehensive analysis was undertaken, which incorporated multiple dimensions of evaluation. Furthermore, prevailing international price trends were also analysed. In addition, the value addition arising from the processing and manufacturing stages of the goods was assessed to determine the impact of such processing on the final customs value. This holistic approach ensured that the valuation exercise was based on a balanced consideration of empirical data, market intelligence, and stakeholder input, in accordance with the provisions of Section 25 of the Customs Act, 1969.
Keeping all the factors in view and after carefully analysing all the available information from different sources, the Customs values of subject items were determined under sub-section (6) of Section 25 of the Customs Act, 1969, it added.
Copyright Business Recorder, 2025
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