ISLAMABAD: The Directorate General of Customs Valuation Karachi has revised customs values for imported coal from all origins, linking the valuation benchmark to internationally published Argus prices plus actual freight.
Thank you for reading this post, don't forget to subscribe!Under Valuation Ruling No. 70/2026, issued on October 12, 2026, the new mechanism will apply to coal imported under Pakistan Customs Tariff (PCT) codes 2701.1200 and 2701.1900. The applicable Argus price will be determined with reference to the date of the letter of credit (L/C).
The revised ruling supersedes Valuation Advice No. 01/2023, issued on September 12, 2023, by the Directorate of Customs Valuation, Quetta. It will remain effective until amended or withdrawn under the Customs Act, 1969.
According to the Directorate, the revision follows a review of prevailing international coal prices and consultations with stakeholders held on October 5, 2026. Participants proposed linking customs valuation to the Argus benchmark to reflect changing international market conditions more accurately than fixed values.
The Directorate reviewed Argus price assessments and import data covering the preceding 90 days before adopting the revised mechanism. It determined that the transaction value method and the methods based on identical and similar goods were unsuitable under the circumstances because the required information was unavailable or the historical data did not adequately reflect prevailing international prices.
Consequently, the customs values were determined under Section 25A, read with the proviso to Section 25A(1), of the Customs Act, 1969.
The revised mechanism is expected to align the customs valuation of imported coal more closely with international market movements and provide a benchmark for assessing import declarations across shipments from different origins.
Story by Sohail Sarfraz
