Pakistan Customs revises valuation mechanism for imported coal, links to international Argus prices

Pakistan Customs has changed how it sets minimum values for imported coal, using international Argus quotations plus actual freight costs instead of older fixed benchmarks. Profit by Pakistan Today reported that the Federal Board of Revenue issued Valuation Ruling No. 70/2026 under Section 25A of the Customs Act, replacing guidance issued in September 2023.

The new method applies to coal arriving from any country under tariff codes 2701.1200 and 2701.1900, with the Argus rate on the letter-of-credit date eligible for assessment. If an importer declares a higher invoice value than the benchmark, duties and taxes will be calculated on that higher figure; air shipments will also include the freight difference against sea transport. The ruling remains effective until changed or withdrawn, and importers can seek a review within 30 days.