ISLAMABAD: Directorate General of Customs Valuation Karachi has revised customs values on the import of coconut oil in bulk/ retail packing from the Philippines, Indonesia, Malaysia, and Sri Lanka.
In this regard, the directorate has issued a valuation ruling number 2042 of 2026 on Monday.
According to the ruling, a representation has been received stating that consignments of coconut oil were released at varying declared values, resulting in disparity in assessment and lack of uniformity in the local market.
To ensure consistency and safeguard government revenue, the Directorate has decided to determine the customs values of the subject goods. Accordingly, an exercise has been initiated for determination of customs values of coconut oil under Section 25A of the Customs Act, 1969.
Meeting notices were issued to all relevant stakeholders inviting their participation and submission of documentary evidence to facilitate a fair and transparent determination of customs values of the subject goods.
During the meeting, the stakeholders submitted that the subject goods had previously been cleared at comparatively lower declared values, which did not reflect the prevailing international market prices. They emphasised that such variations in assessment created distortions in the local market and requested that the customs values of coconut oil be aligned with current international benchmarks.
The stakeholders further stressed that determination on the basis of verifiable international price trends, supported by contemporary import data and documentary evidence would ensure transparency, uniformity, and protection of government revenue.
Keeping in view the representations submitted by the stakeholders, the import data of the preceding ninety (90) days, along with information obtained from international price sources, was thoroughly scrutinised.
The specifications of the subject goods were also examined. The available record revealed that coconut oil imported into Pakistan mainly comprised edible grade and industrial grade varieties. This classification was taken into consideration to ensure an appropriate comparison of values and to maintain uniformity in assessment while determining the customs values. Finally, market information obtained from credible online sources were gathered, analysed, and utilised.
Based on this comprehensive evaluation, the customs values of the subject goods have been determined under sub-section (9) read with sub-section (6) of Section 25 of the Customs Act, 1969 further read with first proviso of Section 25A of the Customs Act, 1969. This methodology ensures that the determination of customs values is fair, transparent, and fully compliant with the law.
Copyright Business Recorder, 2026
Comments