ISLAMABAD: The Directorate General, Customs Valuation Karachi has issued new customs values on the import of coal from all origins.
The directorate has revised the customs valuation of imported coal, linking the benchmark customs value to internationally published Argus prices plus actual freight, according to Valuation Ruling No. 70/2026 issued on October 12, 2026.
The new ruling supersedes Valuation Advice No. 01/2023, dated September 12, 2023, issued by the Directorate of Customs Valuation, Quetta. The revised mechanism will apply to coal imported from all origins and remain effective until rescinded or revised under the Customs Act, 1969.
Under the ruling, customs values for coal falling under Pakistan Customs Tariff (PCT) codes 2701.1200 and 2701.1900 will be determined on the basis of the Argus price plus actual freight, with the applicable Argus price to be taken from the letter of credit (L/C) date.
The Directorate said the revision followed a review of prevailing customs values in view of changes in international coal prices. A meeting with relevant stakeholders was held on October 5, 2026, during which participants requested that customs valuation be linked to the Argus benchmark to better reflect market movements than a fixed value.
According to the ruling, the Directorate examined Argus price assessments and compared them with existing customs values. It also reviewed import data for the preceding 90 days to assess declared values and the trends in coal imports.
The Directorate observed that Argus is a recognised international benchmark that moves in line with market conditions, making it an appropriate reference for determining customs values.
The ruling states that the valuation methods prescribed under Section 25 of the Customs Act, 1969, were examined in the prescribed sequence. The transaction value method was found inapplicable due to the absence of the required information. The identical and similar goods methods were also not considered suitable because the available 90-day import data reflected international prices that had since changed.
Consequently, the Directorate determined the customs values under Section 25A, read with the proviso to Section 25A(1), of the Customs Act, 1969.
Copyright Business Recorder, 2026
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