ISLAMABAD: The Directorate General of Customs Valuation Karachi has revised customs values on the import of skimmed milk powder, instant milk powder, sweetened condensed milk and evaporated filled milk.
In this regard, the agency has issued a new valuation ruling (1998 of 2025).
The new customs values would be applicable on imports from USA, Canada, Turkey, Iran, New Zealand, Australia and Eastern Europe.
The importers contested that due to removal of exemption from this item, import volumes have declined and consequently the existing customs values have shown downward trend in the international market. Therefore, the values need to be revised downward.
According to the ruling, the previous Valuation Ruling was more than one year old. Therefore, in pursuance of ‘analysis of imported data, current market trends, the difference in market prices and customs values, an exercise for the determination of customs values of the subject goods was initiated under sections 25 and 25A of the Customs Act 1969.
Copyright Business Recorder, 2025
Comments
Comments are closed.