KARACHI: The Directorate General of Customs Valuation has determined that mineral coal of Afghanistan origin falling under HS code 2701.1900 may be assessed at $85 per metric ton.
Coal Traders Association, Islamabad had forwarded a representation with the request to reduce coal prices of Afghanistan origin and to make them in line with declining trends in the international market.
The representation was examined in the Directorate General and a meeting was scheduled. Different stakeholders including importers, representatives of FPCCI, KCCI and Coal Traders Association and Additional Collector of Customs, MCC Peshawar attended the meeting.
The Director Customs Valuation presided over the meeting wherein written as well as verbal contentions of the importers and other stakeholders were discussed in detail.
Transaction value method was found inapplicable because requisite information required under the law was not available. Identical/similar goods value Methods were examined and found not applicable as requisite information was not available.
After carefully considering all aspects of the issue, verbal and written contentions of the importers and other stakeholders of Afghan coal, and all available record, documents, and clearance, data of different formations, it was therefore, proposed that ‘Mineral coal of Afghanistan origin’ falling under HS code 2701.1900 may be assessed at $85 per metric ton.