ISLAMABAD: The Directorate General of Customs Valuation, Karachi, has issued a new valuation ruling, fixing the customs value of imported solar panels at \$0.08 to \$0.09 per watt, reflecting a downward revision in line with global market trends.
As per Valuation Ruling No. 2012/2025 issued on Monday, the revision follows multiple representations from stakeholders, including a formal request by the Pakistan Solar Association (PSA) dated January 21, 2025. The PSA had urged the directorate to reassess the previous ruling (No. 1894/2024) issued on July 4, 2024, citing a significant drop in international solar panel prices.
Importers highlighted challenges with banking compliance, noting that declared transaction values were lower than the prevailing customs values, leading to delays in goods clearance.
An initial consultative meeting was held on February 19, 2025, where most stakeholders supported the continuation of tier-based categorisation from the earlier ruling. They also recommended verifying market rates through local distributors and ongoing solar exhibitions across Pakistan.
Due to a key international exhibition in China, several major importers could not attend the initial session but submitted commercial invoices, Goods Declarations (GDs), and other evidence in support of a downward valuation.
Subsequent stakeholder meetings reaffirmed the declining trend in solar panel prices. Customs authorities reviewed 90 days of clearance data and applied valuation methods under Section 25 of the Customs Act, 1969. While the transaction value method was inapplicable, the identical goods value method provided partial guidance, albeit with limitations due to insufficient evidence on quantity and quality.
The revised valuation aims to align customs practices with current market realities and ease procedural bottlenecks for solar panel importers.
Story by Sohail Sarfaraz
