‘Customs moves to modernise imported goods valuation system’

LAHORE: Director General Customs Valuation Irfan Wahid has said that ensuring fair valuation of imported goods is the responsibility of customs, and fairness, transparency and impartiality are the key principles in valuation rulings.

The existing valuation system is being improved and modernized so that valuation rulings can be linked with international prices, discretionary elements can be minimized, and greater price stability can be provided to businesses, he added.

He was speaking to the business community during his visit to the Lahore Chamber of Commerce and Industry (LCCI). LCCI President Faheem-ur-Rehman Saigol welcomed him. Senior Vice President Tanveer Ahmed Sheikh, Executive Committee members Karamat Ali Awan, Firdous Nisar and Amir Ali, Director Valuation Lahore Saima Aftab, Additional Director Customs Lahore Palwasha Syed, along with other LCCI office-bearers and members, were also present.

Welcoming DG Customs Valuation, LCCI President Faheem-ur-Rehman Saigol said the Directorate General of Customs Valuation plays an important role in the country’s trade, imports and tax system.

Accurate, fair and transparent customs valuation not only protects national revenue but also promotes legal trade. He, however, expressed concerns over Valuation Ruling No. 2105/2026 concerning mobile phone accessories.

He said the customs value of some mobile phone accessories had increased by more than 100 percent compared with the previous Valuation Ruling No. 1887/2024. This has significantly increased customs duties and other taxes and has badly affected the business costs of importers.

The LCCI president further said that some mobile accessory brands included in the new ruling are also being manufactured locally. He requested that locally manufactured products and brands should be properly identified and necessary changes should be made in the ruling. He also requested a fresh review of Valuation Ruling No. 2105/2026.

Faheem also raised the issue of Valuation Ruling No. 2094/2026 concerning perfumes, cosmetics, deodorants and related products. He said that, according to the business community, customs values of a large number of well-known international brands have been fixed considerably higher than prevailing international market prices and actual import prices.

Speaking about the valuation of perfumes and cosmetics, Irfan Wahid said that the matter had already been reviewed and a number of review applications had been filed. He said that many people had also participated in the hearings and presented their concerns.

He said that local industry and importers may have their own interests and, at times, these interests may conflict. However, the basic principles in determining values should be fairness and impartiality. The Directorate General and officers issuing valuation rulings always try to ensure that the values determined are fair.

He said if there is any issue or mistake in a valuation ruling, businesses have the right to raise the matter through the review process. A further appeal mechanism is also available.

According to Irfan, around 50 items are currently being valued on the basis of international publications and global market prices, and efforts are being made to increase this number. He said this would help reduce discretion, uncertainty and unexpected changes in valuation.

He said international prices are mostly available for raw materials and basic commodities, while direct international prices are not always available for finished products or products with different specifications. Therefore, research reports, market analysis and other studies are needed to ensure that valuations are not only fair but also reflect actual market conditions.

Regarding mobile accessories, Irfan said the issue had also been discussed in the pre-meeting held before the main session. He said the values of some items had been reduced while the values of others remained unchanged. However, the main concern of the business community was the way different brands had been placed in different categories.

Copyright Business Recorder, 2026