Tyre manufacturer expresses frustration over lack of consultation in recent ITP valuations

Pakistan's local tyre manufacturing sector has raised serious concerns over the recent ITP valuations VR-1958 & VR-1959, issued on January 17, 2025. Industry leaders are frustrated by the lack of consultation from the Customs Valuation Directorate, especially since local manufacturers like GTR are integral to the country’s tyre production.

Hussain Kuli Khan, CEO and MD of GTR, Pakistan's largest tyre manufacturer, voiced his concerns in a letter to the Director General of Customs Valuation. He emphasized that the local tyre industry produces around 80% of the country's required tyre sizes, meeting the high standards of OEMs and catering to the replacement market.

"The absence of our input in these valuation meetings is troubling, as it undermines the contributions of local manufacturers, who are key players in saving foreign exchange, generating employment, and increasing government tax revenue," said Hussain.

GTR, a prominent player in the tyre market since 1964, produces a wide range of tyres for different applications including passenger cars, trucks, buses, and agricultural vehicles.

Hussain urged the DG Customs Valuation to arrange a meeting to discuss the industry's perspective, stressing the need for local manufacturers to be involved in key decisions that impact their business.

As the debate over the ITP valuation continues, the tyre industry is hoping for a more inclusive approach to policymaking that accounts for the contributions of local manufacturers.