KARACHI: President of the Karachi Chamber of Commerce and Industry (KCCI), Abdullah Zaki on Monday expressed deep concerns over Custom Collectorate’s valuation guidelines on imported goods, saying that the traders and industrialists reject these unjust guidelines as such malpractices are being implemented by few customs officials with a view to harass the importers.
He requested Federal Finance Minister, Ishaq Dar to take notice of these malpractices by Custom Collectorate Karachi and refrain it from issuing such unfair valuation guidelines.
Speaking at the 2nd meeting of KCCI’s Sub-Committee Customs & Valuation Sub-Committee which was attended by number of dispirited importers, President KCCI said that if implemented, these valuation guidelines would 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 miss-declaration 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: “The business community will not accept these guidelines on plain papers as these valuation guidelines, which are directly affect the import businesses, are usually imposed without taking the stakeholders on board”.
He pointed out that importers were 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.