Karachi Chamber of Commerce and Industry President rejects Custom Collectorate’s unjust valuation guidelines

Karachi, April 07, 2014 (PPI-OT): President of the Karachi Chamber of Commerce and Industry (KCCI), Abdullah Zaki, while expressing deep concerns over Custom Collectorate’s valuation guidelines on imported goods, said that the trade and industry rejects these unjust guidelines as such malpractices are being implemented by few customs officials with a view to harass the importers.

President KCCI requested Federal Finance Minister, Ishaq Dar to take notice of these malpractices by Custom Collectorate Karachi and refrain them from issuing such unfair valuation guidelines.

Speaking at the 2nd meeting of KCCI’s Sub-Committee Customs and Valuation Sub-Committee which was attended by number of dispirited importers, President KCCI said that if implemented, these valuation guidelines will leave no other option for the importers but to seek other ways including the controversial Afghan Transit Trade and the situation is likely to promote misdeclaration and smuggling.

Imposing these valuation guidelines for Karachi based importers only will result in shifting the imports to other illegal sources whereas majority of the import businesses located in Karachi city will terribly suffer, he said, adding that the situation may also trigger shortages of raw materials and will have a negative impact on overall economic performance of the country.

He said that the business community will not accept these guidelines on plain papers as these illegal valuation guidelines, which are directly affect the import businesses, are usually imposed without taking the stakeholders on board.

He pointed out that importers are kept uninformed about the changes in valuation guidelines and due to fears of escalating demurrage/ detention charges, the importers find no other option but to immediately clear the imported goods according to the value mentioned in valuation guidelines. The helplessness of these importers, who clear goods under valuation guidelines, is later on used as evidence by customs officials to convince others.

Abdullah Zaki urged Federal Finance Minister, Ishaq Dar to immediately intervene in this pressing matter and order Custom Collectorate Karachi to refrain from issuing such illegal guidelines which are prepared overnight by some Custom officials and imposed on the business community.

For more information, contact:
Aamir Hassan
Director Press/ Electronic Media and Public Relations
Karachi Chamber of Commerce and Industry (KCCI)
Aiwan-e-Tijarat Road, Off Shahrah-e-Liaquat,
Karachi-74000
Email: info@kcci.com.pk, secretary@kcci.com.pk
URL: www.kcci.com.pk
Office: +92 99218001-09
Fax: +92 21 99218040