In a meeting with Mr. Zakria Usman Vice President FPCCI, Importers expressed their deep concern over the high value assessment of raw material by the customs authority. They demanded that in view of the falling prices of raw material, due to recession world wide, the customs authority should release the raw-material on assessment of new prevailing prices which have drastically fallen down.
The importers informed that assessment of customs duty on the data prices is a great tyranny badly effecting the industrial progress which is already at stake and make Pakistani products uncompetitive in the world market.
It was further informed by the importers that consignments of raw material are lying on ports due to non-acceptance of new import value by the customs authorities and their non-friendly attitude. Importers demanded immediate relieve and rationalization of the value assessment of raw material otherwise they have expressed their fear that most of the industrial units may close down or result in costly production of goods.
The importers informed the Vice President FPCCI that value assessment of raw material on data value unrealistic prices basis is not acceptable by the importers and releasing of consignments under section 81 securing the difference of price by bank certified checks or pay orders is hurting the trade and industry by blockage of their huge amounts for indefinite period.
Mr. Zakria Usman Vice President FPCCI assured full support to importers and demanded finalization of all consignments released provisionally immediately without any further delay.