ISLAMABAD: Directorate General of Customs Valuation has fixed new customs values of raw materials, i.e., PVC, PU, and other coated fabric imported from China, Taiwan, Korea, Japan, Thailand & Far East, the United Kingdom, and the United States.
According to a valuation ruling 2068 of 2026 issued by the directorate on Thursday, the Customs values of PVC, PU, and Other Coated Fabric were determined under Section 25A of the Customs Act, 1969 vide Valuation Ruling No.1730-2023.
In December 2025, representations were received from various stakeholders, stating that the value of said items had declined in the international market; therefore, the Directorate re-determined the customs values of the subject items.
Accordingly, the Directorate initiated an exercise for the re-determination of customs values of subject goods covered under the aforesaid valuation ruling. Meeting notices were issued to all relevant stakeholders to address their grievances.
A meeting was held to deliberate in detail upon the issues relating to the valuation of the subject goods.
The importers contended that the international prices of subject items have declined and transaction values are fair; therefore, based on Section 25 of the Customs Act, 1969, the values shall be re-determined according to the international price trend.
The local manufacturer contended that prices of raw material are increasing and have an upward trend; therefore, on these grounds determined customs values shall be increased. They further contended that importers are trying to crush the local industries of artificial leather, which our country cannot bear in this crucial time.
Copyright Business Recorder, 2026
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