The Directorate General of Customs Valuation, Karachi, has fixed new customs values for a wide range of auto replacement and engine parts, including piston and ring sets imported from multiple countries. The revised values were issued through a valuation ruling on Monday, replacing an earlier framework introduced in May 2020, which had remained in place for over five years. The update follows representations from stakeholders seeking revision of customs values in line with current market conditions.

The directorate initiated the exercise under Section 25A of the Customs Act, 1969. A consultative meeting was held with stakeholders, including representatives of the Pakistan Automobile Spare Parts Importers and Dealers Association and Indus Motor Company, where views were shared on pricing trends and engine capacity-based categorisation. Officials said the valuation exercise considered variations in product specifications, including engine capacity, vehicle type, origin, and quality, as well as their use across a wide range of vehicles in the replacement market.

The directorate noted that a large portion of Pakistan’s vehicle fleet consists of older models, which require more frequent replacement of engine components, influencing demand and pricing patterns. It was also observed that items such as piston and ring sets are commonly sold as complete sets for specific engine configurations rather than individual units, which was factored into the revised valuation structure. Analysis of import data showed inconsistencies in declared values across consignments and origins, limiting its reliability for valuation based on identical or similar goods.

To address these variations, the earlier broad engine capacity groupings have been refined to better reflect prevailing price ranges across different segments. Market surveys were also conducted to assess local price levels, and the revised customs values have been structured based on a combination of market data, import trends, and updated segmentation to ensure uniform assessment.