Customs revises import values for PVC, PU coated fabric after global price review

The Directorate General of Customs Valuation has revised customs values for imports of PVC, PU and other coated fabrics sourced from multiple regions, including China, Taiwan, Korea, Japan, Thailand, the Far East, the United Kingdom and the United States.

The updated rates have been issued through Valuation Ruling No. 2068 of 2026, replacing earlier benchmarks set under Valuation Ruling No. 1730-2023 in accordance with Section 25A of the Customs Act, 1969.

Officials said the revision was initiated after stakeholders submitted representations in December 2025, citing a decline in international prices of the relevant raw materials.

Following these submissions, the directorate began a re-evaluation exercise and held consultations with importers and local manufacturers to review prevailing market trends.

Importers argued that global prices have decreased and requested that customs values be aligned with current transaction levels under Section 25 of the Customs Act.

Local manufacturers opposed the view, stating that raw material costs are rising and that lowering customs values could affect domestic artificial leather producers.

After reviewing stakeholder input and market data, the directorate issued revised values to reflect updated international price conditions.