Pakistan's government has said that Fastmarkets' import index for ferrous scrap will be used for customs valuations of ferrous scrap, according to an official ruling published on February 25.
The decision came after meetings to determine customs values, held on January 14 and February 3 with key industry stakeholders - including the Federation of Pakistan Chambers of Commerce & Industry (FPCC&I), the Karachi Chamber of Commerce & Industry (KCC&I) and the Pakistan steel rerolling mills association.The government said a number of complaints had been received in relation to import valuations, which were causing problems for...