KARACHI: The Karachi Chamber of Commerce and Industry (KCCI) has been asked to come forward and collectively devise a mechanism for valuation rulings.

During his visit to the KCCI on Wednesday, Karachi’s Chief Collector of Customs Appraisement (South) Nasir Masroor Ahmed told the chamber’s office-bearers that he was ready to hold negotiations on valuations rulings. He said any feasible mechanism suggested by KCCI would give relief to traders and customs authorities.

“Valuation rulings should be uniform across Pakistan as it will help in dealing with many issues emerging due to variations,” he said, according to a KCCI’s press release.

Describing under-invoicing as one of the most serious issues, he said hardly any invoice carries authentic values which create many problems for Customs authorities and traders concerned.

KCCI President Abdullah Zaki expressed concern over higher valuation being imposed by Customs authorities on Karachi-based importers only. He said this resulted in shifting the imports to other illegal sources and promoted smuggling through Afghan Transit Trade and misdeclaration, major reasons for falling revenue collection of Customs authorities.

Published in Dawn, September 18th , 2014