All Customs frontliners and others concerned are hereby informed and instructed to adhere to the correct and proper valuation of imported articles.  Effective immediately, no imported iron and steel products whose declared FOB value is lower than US$400 per metric ton (Metal Scrap Value), shall be processed or released without first securing CLEARANCE from the Office of the Commissioner.

This amends Memorandum dated 06 February 2012.


(SGD.) ROZZANO RUFINO B. BIAZON
Commissioner