ISLAMABAD: Directorate General of Customs Valuation Karachi has fixed US$140 Per Metric Ton (PMT) as the import value of Afghan-origin coal imported into Pakistan via land-borders Custom stations.
In this connection, the directorate has issued new valuation advice to the Collectors of Customs, Appraisement (Peshawar), Enforcement (Peshawar) & Enforcement (Dera Ismail Khan) Khyber Pakhtunkhwa (KP).
According to the valuation advice, the customs Value of ‘Coal’ imported into Pakistan from Afghanistan, via the land-border Customs Stations of KP has been determined.
Afghanistan raises coal prices as exports to neighbouring Pakistan boom
Earlier, Customs Value of Afghan Origin ‘Coal’ was determined to be @ US$0.083 Per KG or USD 83 Per Metric Ton, C&F value vide Valuation Advice No. 5551 issued by the then Director Customs Valuation, Karachi under which valuation was in force till to date. However, a section of Pakistani coal importers has approached the directorate stating that as recently, the value of Afghan-origin coal has increased substantially; therefore, the import value of coal in Pakistan should also be revised/ enhanced accordingly. Since coal is an important industrial raw material for Pakistan, it was imperative to reconsider and revise its customs value (as imported from Afghanistan) commensurate with its prevalent prices in the local/regional market.
Directorate of Customs Valuation Peshawar; therefore, took up an exercise for this purpose, in consultation with local importers/ traders of Afghani coal in KP. Detailed deliberations in this regard were held with all stakeholders.
It was admitted that prices of Afghan-Origin Coal had undergone a considerable increase in recent times and therefore, its customs values for import in Pakistan should also be revised upward. Trader also appreciated the fluctuating international price trends of coal and asserted that the revised value of Afghani coal, if any, should prevail only for a limited time period, so that the same could be revised again, in due course of time, according to its changing price trends in Afghanistan.
After in-depth consideration of all relevant aspects of the matter, the import value of Afghan-origin coal, as imported into Pakistan via land-borders Custom stations of Karachi has fixed minimum, USD 140 Per Metric Ton (C & F) with immediate effect, until further revision thereof.
The Clearance Collectorate (i.e., MCC Appraisement Peshawar) may ensure that henceforth, no consignment of Afghan origin coal (PCT Codes 2701.1200 & 2701.1900) be assessed on a value lower than the above-determined valuation. However, any import declaration of Afghani coal, bearing value higher than the above-determined value, may be accepted. This valuation advice shall remain valid for a maximum period of three months only, from its date of issuance.
However, as agreed with trade bodies, this advice could be revised even before the lapse of such time-period, based on the fresh value evidence of (Afghan-origin) coal, if any, valuation advice added.
Copyright Business Recorder, 2022
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