In order to bring the customs values for imported plastic raw materials into alignment with international market trends and industry suggestions, the Directorate General of Customs Valuation Karachi has amended the customs values applicable to these products.

A valuation order states that the new prices are derived from information obtained from international publications such as Platts Polymerscan and ICIS, in addition to talks with the Pakistan Plastic Manufacturers Association (PPMA). These assessments will be revised on a regular basis in order to take into account any shifts that occur in the global market.

A request was made by the Plastics and Plastics Manufacturers Association (PPMA) on January 3, 2025. The request contained a comprehensive pricing schedule for a variety of plastic raw materials, including prime and recycled materials, that were imported from a number of different countries. The directorate examined the data on imports and discovered inconsistencies between the stated and assessed values. This was especially true for recycled plastic raw materials, which had not been evaluated in the past in accordance with Section 25A of the Customs Act of 1969.

In order to standardize values, the directorate carried out a review of data pertaining to import clearance throughout the course of the previous ninety days. It was discovered that there were discrepancies between the reported values and the prices that were already being offered on foreign markets. As a reaction, pricing patterns from Platts and ICIS were analyzed and compared with import data in order to ascertain the precise customs values.

Following an examination of the data that was gathered, a revised valuation structure has been established in order to guarantee that customs assessments are both transparent and consistent. The purpose of this update is to simplify the processes involved in importing goods and to bring pricing methods in line with worldwide standards.