Pakistan Customs has set the minimum export value for Kino for December 1, 2024, to May 15, 2025 export season. The valuation, under Ruling No. 4/2024, is $410 per metric ton for most markets, with a specific rate of $310 per metric ton for B and C grade Kino destined for Afghanistan. This decision follows directives from the Federal Board of Revenue (FBR) and the Ministry of Commerce, aiming to standardize export valuations and address stakeholder concerns in the fruit export sector.
The valuation process involved consultations with key stakeholders, including the Trade Development Authority of Pakistan (TDAP), the Federation of Pakistan Chambers of Commerce & Industry (FPCCI), the All Pakistan Fruit & Vegetable Exporters, Importers & Merchants Association (PFVA), and Kino exporters. These meetings, held from May to November 2024, focused on establishing fair valuation criteria based on export data, international market trends, and stakeholder feedback.
The methodology for determining the export values adheres to the Customs Act, ensuring that higher declared transaction values, if any, take precedence over customs values for fairness. The ruling is subject to appeal within 30 days under Section 25D of the Customs Act and will remain in effect until revised or rescinded. It emphasizes accurate declarations and compliance with export regulations to facilitate smooth trade operations and transparency in Kino exports.
Source: Pkrevenue