The Directorate General of Customs Valuation Karachi has revised customs values for imported plastic raw materials, aligning them with international market trends and industry recommendations.
According to a valuation ruling, the updated prices are based on data from global publications such as Platts Polymerscan and ICIS, alongside consultations with the Pakistan Plastic Manufacturers Association (PPMA). These valuations will be updated periodically to reflect changes in the international market.
The revision follows a request submitted by the PPMA on January 3, 2025, which included a detailed price schedule for various types of plastic raw materials—both prime and recycled—imported from multiple origins. The directorate reviewed import data and identified discrepancies in declared and assessed values, particularly for recycled plastic raw materials, which had not been previously assessed under Section 25A of the Customs Act, 1969.
To standardise valuations, the directorate conducted an analysis of import clearance data over the past 90 days. The findings indicated inconsistencies between declared values and prevailing international market prices. In response, price trends from Platts and ICIS were examined and compared with import records to determine accurate customs values.
Following scrutiny of the collected data, a revised valuation structure has been established to ensure transparency and consistency in customs assessments. The update aims to streamline import procedures and align pricing mechanisms with international benchmarks.
