‘Customs moves to modernise imported goods valuation system’

Director General Customs Valuation Irfan Wahid told business representatives at the Lahore Chamber of Commerce and Industry that fair valuation of imported goods is a customs responsibility, resting on fairness, transparency and impartiality. According to Business Recorder, the existing system is being upgraded so rulings can be tied to international prices, leaving less room for discretion and offering businesses steadier prices.

LCCI President Faheem-ur-Rehman Saigol objected to Valuation Ruling No. 2105/2026 on mobile phone accessories, noting that customs values for some items rose by more than 100 percent from Ruling No. 1887/2024. He said the higher values have raised duties and other taxes and hurt importers' business costs. He also sought a new review, pointing out that some brands in the ruling are made locally, and questioned Ruling No. 2094/2026 on perfumes and cosmetics, where he said, citing the business community, values sit well above international and actual import prices.

Wahid replied that the perfume and cosmetics ruling had already been reviewed, with several review applications filed and many hearings attended. Businesses can seek a review of any error. He added that about 50 items are now valued using international publications and global prices, a number the directorate is working to raise, while finished goods often lack direct international prices. On mobile accessories, he said some values were cut while others stayed unchanged, and the main business concern was how brands were classified.