ISLAMABAD: The Directorate-General of Customs Valuation, Karachi, has fixed new customs values on the import of polyester filament yarn.
According to a new valuation ruling (2101 of 2026) issued on Monday, the customs values of polyester filament yarn were determined under Section 25A of the Customs Act, 1969 vide Valuation Ruling No.2069-1-2026. The representation received from the stakeholders regarding revision of the values since the prices of the goods had been increased in the international market.
It was therefore proposed that the Directorate may re-determine the customs values of subject items in light of prevailing international prices. Thereafter, the Directorate initiated a fresh exercise forre-determination of customs values of the subject goods covered under the aforesaid Valuation Ruling, so as to align the determined values with the current international price trends.
In this regard, meeting notices were issued to all the relevant stakeholders to provide them an opportunity to present their viewpoints, submit documentary evidence and address their grievances, if any, regarding valuation.
During the course of the meeting, arguments took place between the importers and the local manufacturers. The importers contended that the existing determined customs values should be maintained. They submitted that international market prices of the subject goods and their raw materials were highly volatile and subject to frequent fluctuations on a daily basis due to changing global war scenario.
On the other hand, the local manufacturers opposed this viewpoint and contended that the international prices of the subject goods had been consistently increasing, and they were currently following an upward trend in the international market.
The views of the stakeholders were considered, and import data for the preceding 90 days was analyzed together with the documentary evidence submitted by the stakeholders. In addition, the prevailing international prices of the goods were reviewed using data from the CCF Group.
The CCF Group data showed that international prices of the goods had increased compared to the pre-war period. The war also led to a global increase in freight charges.
Accordingly, both the increase in international prices and the higher freight costs were taken into account while determining the values of the goods. Another significant contention of the stakeholders was their proposal for concession from international market prices, based on a local sale tax exemption allegedly available to the Chinese exporters.
Upon thorough examination, it transpired that the FOB values of the subject items for export were available in the publication (CCF Group). As such the values have been used to determine customs value of the goods after deducting the local VAT to arrive at fair customs values. These prevailing sea freight rates were also taken into consideration during the valuation exercise.
Copyright Business Recorder, 2026
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