Tuesday , November 24 2020
Breaking News
Home / Uncategorized / Importers, traders express concerns over valuation guidelines of cotton, cotton-blended fabrics
Importers, traders express concerns over valuation guidelines of cotton, cotton-blended fabrics

Importers, traders express concerns over valuation guidelines of cotton, cotton-blended fabrics

KARACHI: The importers and traders have expressed their deep concerns over the valuation guidelines issued by Pakistan Customs-FBR on import of cotton fabric and cotton-blended fabric.

The importers and traders were of the view that the Pakistan Customs has issued a high valuation guideline of cotton-blended fabric as compared to cotton fabric.

One of the importers while sharing his views with Customs Today said that the custom values of pure cotton fabric were high compared to the cotton-blended fabric across the world, as the pure cotton fabric consists of total cotton while the cotton-blended fabric was the composition of cotton with other fabrics.

“Pakistan Customs has placed cotton-blended fabric in high customs values, while the customs values of pure cotton fabric was less than the customs value of cotton-blended fabric,” he maintained.

He further said that the high customs values of pure cotton fabric was badly affecting the import of cotton fabric and raising the import of the said description through illegal means.

On the other hand, when contacted MCC Appraisement-West Collector Muhammad Saleem told this scribe that the customs values of “Swiss Cotton” only are higher than cotton-blended fabric; otherwise, the customs values of cotton-blended fabrics are higher than simple cotton fabric across the world.

Commenting on it further, Collector Muhammad Saleem said that the blended-cotton was mixture of cotton with other fabrics, like Viscose, Ryan and others, so it would definitely have higher customs values as compared to pure cotton fabric.