The Directorate General of Customs Valuation Karachi has announced an increase in the customs value of imported solar panels, revising it from $0.08 per watt to $0.09 per watt.
This revision comes despite a fall in global solar panel prices, following multiple appeals by local importers to reassess outdated valuation figures.
The updated ruling, issued on Monday, was prompted by formal requests from various stakeholders, including the Pakistan Solar Association (PSA). The PSA had earlier argued that the previously fixed customs value was higher than international prices, creating challenges for importers, particularly in securing bank clearances where declared transaction values were lower than the assessed customs rates.
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An initial consultation held in February revealed consensus among importers to maintain the existing “tier-based categorization” system, but many highlighted a consistent price reduction since July 2024. Market feedback was sought through verification visits to local distributors and ongoing solar exhibitions across the country.
Although the meeting was attended by most stakeholders, some major importers missed the initial session due to their participation in a long-running solar exhibition in China. However, in a follow-up session, these stakeholders submitted commercial invoices, Goods Declaration (GD) documents, and other records to support claims of reduced pricing.
While the “Transaction Value Method” under Section 25(1) of the Customs Act, 1969, was reviewed, it was not applied due to insufficient information. Instead, alternative valuation methods, including the “Identical Goods Value Method,” were considered but not solely relied upon.