(News)

Valuation ruling should be revised every 3 months – Chairman PCDMA demanded to Custom Authorities

PRESS RELEASE

The KCCI President Agha Shahab Ahmed Khan has asked for suggestion from PCDMA to the issues of Commercial importers for resolving them with mutual efforts and has said that KCCI is always with business community in any hard time. He said in a meting with a delegation of PCDMA led by its Chairman Mr. Amin Yousuf Balgamwala .Vice Chairman Mr. Asif Ebrahim, Ex Chairman Mr. Haroon Agar, Arif Balgamwala were also present in the meeting Secretary General of Businessmen group AQ Khalil, Senior Vice President of KCCI  Rashid Islam and Vice President Mr. Shahid Ismail were also present on the occasion.

Agha Sehab has said that he talked to member board of problems faced by Commercial Importers regarding SRO 1190 and hopes to solve it soon. He also asked for suggestion from PCDMA in valuation ruling and prices of different items and assured that KCCI will definitely help in making correct valuation ruling and always support commercial importers. He also agrees of suggestion given by Chairman PCDMA to form a committee for joint effort in resolving the issues and asked the PCDMA to nominate their representative.

PCDMA Chairman and Ex Director Pakistan Stock Exchange Mr. Amin Yousuf Balgamwala has detailed discussion with KCCI President regarding problems faced by Commercial Importers regarding Sales Tax and SRO 1190. He said there is lot of problems in value addition and we have sent letters to concerned authorities but not get any success He also demanded that valuation ruling should be changed every 3 months which is not revised for many years because if any item imports in $80 while Department of Custom gave valuation ruling in $100 and the prices in international market is going down then the ruling will also revised so its not justice if the price is less and duty is higher.

Amin Yousuf has asked for help to KCCI and said KCCI should play its role in solve the problems of Commercial Importers and we unite together so the problems faced by business community should be solved on priority basis .He give suggestion that we form a committee of PCDMA and other association to make joint efforts .He said that condition of CNIC is again come in January 2020 so we have to make some united efforts before time. He asked to KCCI to make some effective measures and we should also take on board in decision making. He said that even paid all taxes there is not get any relief to Commercial Importers but they called us as Tax evader which is not justify in any way. Chairman PCDMA has invited President KCCI along with BMG Chairman Mr Kassim Teli to visit PCDMA