KARACHI: The Directorate General of Customs Valuation, a division of the FBR, issued Valuation Ruling No. 2069/2026 on April 16, replacing the earlier ruling (No. 60/2025) issued in July 2025. The updated values will be used to assess duties and taxes on imports of polyester filament yarn under Section 25A of the Customs Act, 1969.
The revision follows a detailed review of global market conditions, particularly the sharp increase in petrochemical raw material prices. Officials said the surge was largely attributed to war-related disruptions affecting production and logistics chains worldwide, pushing up input and freight costs.
Stakeholder divide over price adjustment
During consultations held on April 13, importers and local manufacturers presented contrasting views. Importers urged authorities to retain existing customs values, arguing that international prices remain highly volatile due to ongoing geopolitical uncertainty. They maintained that prices had already remained elevated over the past six months, and any further increase in customs values would add undue financial pressure.
Local manufacturers, however, supported an upward revision, stating that international prices were consistently rising and reflecting a sustained upward trend. They argued that maintaining outdated values would distort market competition and undermine domestic industry.
Data-driven valuation approach
The valuation exercise was based on a comprehensive analysis of import data from February to April 2026, along with scrutiny of international raw material prices and stakeholder submissions. Authorities noted that while pre-war prices were lower than previously determined values, the war period saw a marked increase in prices.
Given abnormal fluctuations, officials relied on recent import data and adjusted for higher freight costs. Several valuation methods under Section 25 of the Customs Act were examined but deemed unsuitable due to insufficient or inconclusive data. Ultimately, customs values were determined under fallback provisions to ensure fair and transparent pricing.
The ruling is effective immediately and will remain in force until revised or rescinded. Customs authorities across Pakistan have been directed to ensure uniform implementation, with mechanisms in place to address anomalies.
Analysts say the revision reflects Pakistan’s effort to align import valuations with global market realities while balancing the interests of industry stakeholders amid continued economic uncertainty.
