Pakistan Automotive Manufacturers Association (Pama) has raised concerns over the recent valuation of motorcycle parts, saying it will hurt the interests of Original Equipment Manufacturers (OEMs).
The Pama director general has written a letter to DG Customs Valuation, complaining that the recent valuation ruling No 685/2014 dated September 15, 2014 was enforced without taking OEMs on board, said a press release.
“The new Import Trade Prices (ITPs) regarding motorcycle parts of Chinese origin by the Customs authorities have seriously endangered revenues to the government, OEMs’ investment, employment base, and foreign exchange to the country” according to PAMA.
Customs authorities re-evaluated the ITPs of motorcycle parts recently that gave commercial importers huge concessions, up to 400% against the values determined for OEMs, the release added.
PAMA fears that its products would be rendered unprofitable in the current scenario and urged the govt. to reconsider its decision.
