LAHORE, (Pakistan Point News - APP - 29th August, 2016) : Importers of readymade garments have sought help of the Lahore Chamber of Commerce and Industry (LCCI) on the issue of increase in customs valuation on imported readymade garments by the Directorate General of Customs Valuation. In a meeting here with LCCI Senior Vice President Almas Hyder, a delegation of readymade garment importers and dealers said that the Directorate has increased custom evaluation with an average of over 800 per cent on imported garments, leaving commercial importers with no option but to go for illegal means to bring imported garments into the country.
The delegation members said that if this new valuation ruling was not withdrawn then Customs Department would not be able to generate revenue collected against clearance of hundreds of garment containers per annum. They added that after this initiative, poor would deprive of cheap garments. They said that importers of readymade garments should be given level playing field so that they could play their due role for economic development of the country.
Almas Hyder said that Directorate General of Customs Valuation should take the stakeholders on board and resolve the issue amicably, adding that increase in valuation would encourage illegal import of garments that would not in the favor of economy, and would cause massive revenue loss to national exchequer besides encouraging smuggling. He said that the Directorate should listen to importers of readymade garments and find out an acceptable solution of the issue. Almas Hyder said that Lahore Chamber has already taken up the issue of massive increase in valuation of imported garments with Directorate of Valuation and would continue its efforts for early solution of this matter.