ISLAMABAD: The Directorate General of Customs Valuation Karachi has again revised the customs/export values of seasonal fruits (Kino, etc) from January 7, 2025 to May 15, 2025.
In this regard, the directorate has issued a new valuation ruling number 5 here on Saturday.
Previously, the Customs/Export value of Kino was determined in December 2024 for the period December 1, 2024 to May 15 2025.
The Export (freight on board) FOB Value of Mandarins (including tangerines and satsumas) and Kino are fixed at US$410 per metric ton (MT). The customs export value for Kino would be applied as the Minimum Export Price of the commodity.
Earlier, the export value was fixed at $310 per metric ton for exports to Afghanistan. In the new valuation ruling, this lower value of US$310 per metric ton has been abolished.
Background of the Valuation Issue revealed that the FBR vide letter read with Ministry of Commerce letter, directed the Directorate of Valuation, Lahore to determine export value of some commodities.
Consequently, an exercise was initiated by the Directorate of Customs Valuation Lahore to determine the said value in terms of Section 25A read with Section 25 (15) of the Customs Act, 1969.
Stakeholders’ participation in determination of Customs/Exports value: Four meetings were convened for participation of major stakeholders including, representatives from Trade Development Authority (TDAP),
Federation of Pakistan Chambers of Commerce & Industry, All Pakistan Fruit & Vegetable Exporters, Importers & Merchants Association (PEVA), and exporters of Kino. The issue pertaining to the valuation of the subject item was deliberated upon in detail in the afore-referred meetings. Proposals submitted by stakeholders for consideration were thoroughly analyzed. The documents submitted by the stakeholders, arguments submitted during the meeting, price trends and exports data from PRAL were also examined for determination of customs export value of `Kino’, the ruling added.
Copyright Business Recorder, 2025
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