KARACHI: Directorate-General Customs Valuation has revised customs value of mineral coal, imported into Pakistan through the provinces of Khyber Pakhtunkhwa and Balochistan, has been revised by the Directorate of Customs Valuation, Quetta. The new value is set at USD 95 per metric ton (MT), which is lower than the previous value of USD 140 per MT.
The revision was made in view of the fluctuations in the international energy market and the request of some Pakistani coal importers. The Directorate of Customs Valuation, Peshawar had already revised the value for their jurisdiction earlier this month. The new value is also in line with the valuation advice issued by the Director, Customs Valuation, Karachi on December 31, 2020, which determined the value of coal at USD 83 per MT.
The revision aims to avoid distortions in trade along Pakistan’s western borders and to ensure a fair and equitable valuation of the mineral coal imported into the country. The revised value applies to the mineral coal under the HS Codes 2701.1200 and 2701.1900. However, any declaration with a value higher than the minimum value will be determined under section 25 of the Customs Act, 1969 by the clearance collectorates located in the province of Balochistan.
