ISLAMABAD: The Directorate General of Customs Valuation Karachi has revised customs values on the import of nylon yarn from China & Taiwan.
In this regard, the directorate has issued a valuation ruling 2025 on Thursday.
According to the ruling, the custom values has been revised on the import of Nylon Textured Stretch, Nylon Filament and Nylon Mono Filament.
The customs values of Nylon Yarn were determined through Valuation Ruling No. 1473/2020. Subsequently, a representation was received from the Pakistan Yarn Manufacturers Association (PYMA), wherein it was contended that the values of the said item needed to be aligned with prevailing international price trends.
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In view of the changing market conditions and to ensure fair and updated valuation, this Directorate General initiated an exercise for the fresh determination of customs values of Nylon Yam under section 25A of the Customs Act, 1969. Accordingly, meeting notices were issued to all relevant stakeholders for consultation and submission of supporting documents.
A meeting with the relevant stakeholders was convened at the Directorate General of Customs Valuation, Karachi, which was attended by all concerned stakeholders.
The representatives of the Pakistan Yam Merchants Association submitted documents indicating lower international prices for the subject goods. They further proposed that the customs values should be aligned with actual transaction values and prevailing international market trends, these values correspond with internationally recognized publications.
Relevant supporting documents were also furnished by the stakeholders for examination and consideration during the valuation exercise.
The Directorate has thoroughly examined the case in light of the viewpoints presented by all relevant stakeholders, the analysis of 90 days’ import data, prevailing international price trends, and information sourced from recognized international publications.
During the course of proceedings, due consideration was given to each party’s concerns, submissions, and recommendations. This holistic approach integrating empirical data, market intelligence, and stakeholder input, ensured that the valuation exercise remained consistent with the methodology prescribed under Section 25 of the Customs Act, 1969, and that the fresh customs values reflect a fair, transparent, and evidence-based determination.
Keeping all the factors in view and after carefully analyzing all the available information from different sources, the Customs values of subject items were determined, the directorate added.
Copyright Business Recorder, 2025
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