Karachi, Pakistan — The Directorate General of Customs Valuation has officially revised the customs value of imported solar panels from $0.08 per watt to $0.09 per watt, despite a noticeable drop in global solar panel prices. This update follows a detailed evaluation of market conditions and importer requests, aiming to bring transparency to the valuation process.
According to a valuation ruling issued Monday, the Directorate received formal appeals from importers and the Pakistan Solar Association (PSA), citing that global prices had significantly decreased, and the previously set customs value was creating hurdles for importers — particularly in bank dealings and customs clearance delays.
The PSA, in a representation dated January 21, emphasized that the outdated customs value was above the actual transaction values, resulting in misalignment with market trends. This prompted the Directorate to review the situation and consult relevant stakeholders.
In an initial consultation on February 19, most stakeholders favored maintaining the tier-based categorization from earlier rulings, noting that solar panel prices had seen a significant reduction since July 2024. Market verification was requested from local distributors and ongoing exhibitions across Pakistan. Some key importers missed the meeting due to their participation in an international exhibition in China.
In subsequent consultations, participants reaffirmed the downward pricing trend and submitted commercial invoices, goods declaration (GD) documents, and other supporting evidence showing current market rates for various solar panel types.
To ensure a fair and data-driven decision, clearance data from the past 90 days was retrieved and analyzed. The Customs Department also reviewed valuation methods under Section 25 of the Customs Act, 1969, though the Transaction Value Method (Section 25(1)) couldn’t be applied due to incomplete information.
While some prices aligned with the Identical Goods Value Method, the lack of sufficient supporting documents limited its application. After assessing all available data, the Directorate decided on the updated valuation of $0.09 per watt.
This adjustment is expected to lower import costs, ease banking challenges, and accelerate customs clearance, ultimately aiding the growth of Pakistan’s renewable energy sector.
