Karachi: DG Custom Valuation Mirza Mubashir Baig informed FPCCI members that Customs department is looking at issues holistically and technology adoption is principle tool which is being applied to resolve grievances and complaints of business community in fair and transparent manner. On visit to FPCCI, he said that Customs department will endeavour to bring down review time from 30 days gradually and sought cooperation of traders in achieving same.

He said that letters from Federal Ombudsman require comments in 1-2 weeks of time but, 45 days are given for resolution and they try their best to resolve issues at earliest. He assured that all letters from esteemed office of FTO are given due and swift consideration.

Fayyaz Rasool Maken Director of Custom Valuation stressed that Customs department is ready and willing for alternative dispute resolution mechanism and considers FPCCI right forum to help customs formulate ADRCs.

Atif Ikram Sheikh President FPCCI apprised it has been agreed, in principle, to work together to reduce review time from 30 days to as low as possible to facilitate country’s trade and industrial production which is cornerstone of any economy to create jobs, generate revenues and achieve economic growth.  He explained that fluctuations in Custom valuation results in volatility and uncertainty in industrial planning, production and exports; whereas any delay in Customs valuation results in unfair and undue demurrages and detention charges to importers.

Saquib Fayyaz Magoon SVP FPCCI maintained that in case of incorrect or obsolete Customs valuation, businesses suffer unnecessarily and FPCCI proposes process to determine updated, realistic and fair Customs valuations be expedited in consultation with stakeholders from platform of apex body.

Muhammad Aamir Convener of FPCCI’s Central Standing Committee on Customs Valuation requested DG to take up issue of required revisions in Section 25-D of Customs Act 1969 in light of valuation rulings given over years and also incorporating changing ground realities.

Published in The Daily National Courier, March, 08 2024

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