LAHORE: The director general Customs Valuation Dr Farid Iqbal Qureshi has said that the fixation of prices of goods was a big challenge.

“We have to consider the issues like under invoicing while determining the value of goods”, he said while speaking at a meeting at the Lahore Chamber of Commerce and Industry (LCCI) on Tuesday.

“Value is determined after looking at the average international price of goods. We also conduct surveys of wholesale and local markets,” Farid said, while assuring setting up an office in Lahore to facilitate local traders.

“Customs Valuation department has an open-door policy for addressing all the grievances of the business community,” he added.

LCCI president Mian Nauman Kabir and vice president Haris Ateeq also spoke on the occasion.

Kabir said that the majority of the meetings regarding valuation were convened in Karachi, urging that such meetings should also be convened in Lahore.

Similarly, meetings to deal with the revision applications of valuations should also be held in Lahore to save the time and cost of the business community.

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