FBR Updates Customs Valuation for Polyester, Viscose, and Acrylic Yarn Imports
The Directorate General of Customs Valuation in Karachi has announced a revised customs valuation for Polyester Spun Yarn, Viscose Spun Yarn, Acrylic Spun Yarn, and their blended variants imported from China, Thailand, Indonesia, and Vietnam.
Previously, the customs values for these yarns were fixed under Section 25A of the Customs Act, 1969, through Publication Value Reference No. 02, issued on December 29, 2022. However, over time, industry stakeholders, including the Pakistan Yarn Merchants Association (PYMA), requested a re-evaluation, highlighting that more than 90 days had passed since the original determination and the values no longer matched current global market prices.
In response, the Directorate launched a comprehensive review to update the valuations. During discussions, importers pointed out that an earlier consensus-based formula, developed jointly with the Department, had become outdated due to a sharp decline in import volumes for several yarn types. They stressed that despite repeated appeals, the rates had not been updated since 2022.
The Computed Value Method under Section 25(8) of the Customs Act was considered but ultimately discarded due to the lack of accurate production cost data from exporting countries. Instead, the Directorate gathered international market prices of raw materials—Polyester Staple Fiber (PSF), Viscose Staple Fiber (VSF), and Acrylic Staple Fiber (ASF)—sourced from the CCF Group.
Using this data, conversion costs for producing different yarn types were calculated count-wise based on reputable international publications. These calculations established the updated customs values for:
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100% Polyester Spun Yarn
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100% Viscose Spun Yarn
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Blended Polyester, Viscose, and Acrylic Yarns
Additionally, the conversion costs for creating 2-ply and 3-ply folded yarns from Viscose Spun Yarn were determined and factored into the final customs valuations.
This revision ensures that Pakistan’s yarn import valuations now reflect current global pricing trends, supporting fair trade practices and enhancing transparency in the textile import sector.
