Performance Based Rebate on Incremental Exports (PRIE)

SH&SFD Circular No. 05 of 2026 — August 24, 2026

The Presidents / CEOs
All Banks Performance Based Rebate on Incremental Exports (PRIE)

Government of Pakistan has decided to introduce a Performance Based Rebate on Incremental Exports effective from July 1, 2026, aimed at incentivizing exporters exhibiting growth in exports over preceding fiscal year.

2. Eligibility: All exporters (exporters of goods as well as services) will be eligible to avail the benefit under this scheme. The rebate will be provided as per following criteria:
   a) The exporters achieving annual export growth of up to 10 percent over the preceding fiscal year's exports shall be eligible for a rebate equivalent to 1 percent of the incremental exports value achieved during the year. b) The exporters achieving annual export growth of more than 10 percent over the preceding fiscal year's exports shall be eligible for a rebate equivalent to 2 percent of the incremental export value achieved during the year. c) The exporters with no annual export growth over the preceding fiscal year's exports shall not be eligible to avail the benefit of this scheme.

3. Payment Mechanism: The rebate payments will be made as per following mechanism:
   i. Quarterly Disbursements: The exporters having exports during a calendar quarter exceeding the average quarterly exports during the preceding year shall be paid 75% of the applicable rebate, as per the criteria given in 2(a) and 2(b) above.
   ii. Annual Adjustment: At year end, if the full year exports of an exporter exceed the preceding year’s exports, such exporter shall be paid the rebate of the last quarter along with the residual rebate of the previous three quarters. Where the full year exports remain less than or equal to the preceding year’s exports, the provisional rebate payments made during the previous three quarters shall be recovered from such exporters by their designated banks and remitted back to SBP within 15 days of the close of the year.

4. The implementation mechanism and the claim form are enclosed as Annexure-I and Annexure-II, respectively.

5. Banks are advised to disseminate the contents of this scheme to their customers and extend necessary support for its effective implementation.

Enclosed:

• 1) Annexure-I: Implementation Mechanism of PRIE
• 2) Annexure-II: Claim form for submission of rebate request under PRIE

Yours sincerely,

Dr. Muhammad Saleem
Head of Department

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1) Annexure-I: Implementation Mechanism of PRIE

SME Housing & Sustainable Finance Department
Annexure-I SH&SFD Circular No. 05 of 2026
General Instructions for Implementation of Performance Based Rebate on Incremental Exports
i. Rebate shall be provided in PKR on the incremental exports only. For the purposes of
determining the rebate in PKR, the weighted average customer exchange rate (buying) published on the SBP website on the date of rebate payment will be used.
ii. The rebate will be determined on incremental export proceeds realized in foreign
exchange. For matching purpose, export proceeds realized in currencies other than US$ will be converted to US$ equivalent based on the applicable conversion rate on the date of realization of export proceeds.
iii. Export year will be considered from July 1 st and ending on June 30 th each year.
iv. Each exporter shall nominate one designated bank for consolidating all export proceeds
of an exporter realized through different banks during the quarter for submitting a consolidated rebate claim to Financial Inclusion Support Department (FISD) SBP BSC.
v. The consolidated rebate claims shall be duly checked, verified and signed by Chief Internal
Auditor and Chief Compliance officer of the designated bank.
vi. All claims shall be lodged on the prescribed form attached as Annexure-II within one
month of close of the quarter. Moreover, annual claims for rebate shall be submitted within 03 months of close of fiscal year.
vii. The FISD will process the rebate claims on first come first serve basis.
viii. Quarterly disbursements shall be treated as provisional and shall be subject to annual
adjustment after close of the fiscal year. x…x…x

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2) Annexure-II: Claim form for submission of rebate request under PRIE

CLAIM FORM FOR PERFORMANCE-BASED REBATE ON INCREMENTAL EXPORTS (PRIE) (To be submitted quarterly by the Exporter, through the designated bank, to the Financial Inclusion Support Department of the State Bank of Pakistan-Banking Services Corporation SBP-BSC) Note: This scheme is open to all exporters. This form, together with all enclosures, must be completed in full and certified by the exporter’s bank before submission. Incomplete claims will not be processed. A. Particulars of Exporter 1 Name of Designated Bank 2 Name of Exporter 3 Address of Exporter 4 Particulars of Exporter:
i) Type of exporter ii) Nature of Company iii) NTN Number Goods / Services Corporate / SME XXXXX 5 Nature of business Manufacturing / Semi-manufacturing / Trading / Services B. Details of Claim and Rebate Calculation The rebate under scheme may be claimed on quarterly basis. Claims for the First, Second and Third Quarters are provisional and will be paid 75% of the computed entitlement for the period. At the close of Fourth Quarter the designated bank will submit the export performance for the full fiscal year and annual claim after adjusting for the payments received in the first three quarters. Fiscal Year of Claim Claim Type (tick one) ☐ Quarterly Provisional Claim ☐ Fourth Quarter / Annual Adjustment Claim Quarter (if provisional) ☐ Q1 (Jul–Sep) ☐ Q2 (Oct–Dec) ☐ Q3 (Jan–Mar) B-1. Quarterly Provisional Calculation (complete for Q1, Q2 or Q3 claims) All figures must be drawn from realized E-Forms / EPRCs. Particulars Value (A) Average Quarterly Exports during the preceding fiscal year (USD) (B) Exports during the current quarter (USD) (C) Incremental Export Value (C = B − A) (USD) (D) Growth Rate (%) [D = (C ÷ A) × 100] Applicable Rebate Slab (tick one, based on Growth Rate at row D):
☐ Export growth of up to 10% over preceding period- Rebate of 1% ☐ Export growth of more than 10% over preceding period-Rebate of 2% (E) Rebate Rate Applicable (%)

(F) Gross Rebate Entitlement for the Period [F = C × E ] (USD) (G) Provisional Disbursement Rate (%) 75% (H) Amount Claimed This Quarter [H = F × G] (USD) The remaining 25% of each quarter’s gross entitlement is retained and settled, together with the full-year adjustment, at the time of the Fourth Quarter / Annual Adjustment claim. Rebate shall be provided in equivalent PKR of the claimed amount. B-2. Fourth Quarter / Annual Adjustment Calculation (complete only with the Q4 claim) Figures below cover the full Fiscal Year reconciled with the exporter’s books of account. Particulars Amount (I) Total export performance – complete preceding Fiscal Year (USD) (J) Total export performance – complete current Fiscal Year (USD) (K) Total Incremental Export Value (K = J − I) (L) Annual Growth Rate (%) [L = (K ÷ I) × 100] Applicable Rebate Slab (tick one, based on Growth Rate at row L): ☐ Export growth of up to 10% over preceding period- Rebate of 1% ☐ Export growth of more than 10% over preceding period-Rebate of 2% (M) Annual Rebate Rate Applicable (%) (N) Total Annual Rebate Entitlement [N = K × M ] (USD) (O) Less: Cumulative Provisional Payments Released in Q1 to Q3 (P) Balance Payable / (Recoverable) in Fourth Quarter [P = N − O] If (P) is negative, the excess amount already disbursed shall be refunded by the exporter or recovered/adjusted in accordance with the undertaking
C. Supporting Documents Enclosed
☐ Export Proceeds Realization Certificate(s) (EPRC) issued by the Authorized Dealer for all proceeds realized during the period, in the format prescribed by SBP’s Exchange Policy Department. ☐ Each claim of rebate will be accompanied by a Demand Promissory Note duly executed by the exporter concerned in favor of the bank and endorsed in favor of SBP BSC / FISD as per ‘Form-A’.

D. Declaration and Undertaking by the Exporter We, the undersigned, on behalf of the exporter named above, hereby declare and undertake as follows:

1. We certify that the export figures stated above are true, correct, and reconcilable with our books of
   account, shipping documents, and EPRCs, and are fully supported by the shipments.
2. We confirm that export proceeds against all shipments have been realized within the period prescribed by
   SBP.
3. We confirm that the same export performance has not been reported or claimed for rebate, earlier under
   the scheme.
4. We acknowledge that claims for the First, Second and Third Quarters are provisional, limited to 75% of the
   computed entitlement for the period, and that final entitlement is determined only on full-year performance after the close of Fourth Quarter / Annual Adjustment claim.
5. We undertake that, should the annual adjustment at Section B-2 show that amounts already disbursed to
   us exceed our final entitlement, or should any information furnished herein be found incorrect, false, or overstated, or should the underlying export documents be subsequently cancelled, reversed, or adjusted, we shall forthwith refund the excess/rebate availed, or permit the same to be recovered/adjusted from any future claim or account, without prejudice to any other action SBP and/or the Bank may take against us.
6. We acknowledge that this rebate, once allowed, remains subject to revocation in case of detection of
   wrong information, mis-declaration, or upon violation of the conditions of this Scheme.
7. We undertake to retain all original shipping documents, E-Forms, and EPRCs relevant to this claim and to
   produce the same for verification or audit by SBP or its inspecting officials, as and when required.
8. We authorize the financing Bank and SBP to verify the particulars given in this Form from any source,
   including the bank’s own records, customs authorities, or any other regulatory record. Signature of Authorized Signatory: ____________________________ Date: ______________ Name: ____________________________ Designation: ____________________________ CNIC: ____________________________ Company Stamp:

E. Bank Certification
The Bank certifies that:

1. We have verified the export performance figures stated above from the relevant E-Forms, EPRCs, and
   export performance records available with us, and have found them to be correct.
2. The rebate claimed in Section B has been independently checked and accurately calculated in accordance
   with the conditions of the Performance-Based Rebate on Incremental Exports scheme, including the 75% provisional disbursement cap applicable on Q1-Q3 claims.
3. For Fourth Quarter / Annual Adjustment claims, we have verified the full-year adjustment at Section B-2,
   including the cumulative provisional payments already released.
4. We are submitting demand promissory note of exporter duly endorsed in your favor for the claim amount
   for recovery of the amount in case of any default. We agree that in case of default of repayment by us on the demand promissory note executed by us if demanded by you, you have our authority to debit our accounts now held or which may be held here-after with you for the amount due by us and that we undertake not to question the correctness or propriety of such debits or set off on any ground whatsoever.
5. We recommend this claim for an amount of Rs. ____________________ for processing and disbursement
   by SBP.
   Signature of Authorized Officer: ____________________________ Date: ______________ Name: ____________________________ Designation: ____________________________ Bank Stamp:
   F. For Office Use Only
   Claim Received On
   Verified By
   Claim Type / Quarter ☐ Q1 ☐ Q2 ☐ Q3 ☐ Q4 / Annual Adjustment Growth Rate Confirmed (%) Rebate Slab Applied ☐ 1% ☐ 2% Amount Sanctioned (this claim) Cumulative Amount Paid to Date (FY) Fine / Recovery Imposed, if any (Reason) Approved By (Name / Designation) Date of Disbursement

Form-A
DEMAND PROMISSORY NOTE *
(To be submitted by Exporter along with the Claim under Performance based rebate on incremental exports) Place:_____________ Date_______________ Rs._____________________ On demand, we _ (name of the exporter) ___promise to pay to the _____(name of the bank) the sum of Rs. _________________(amount of claim) _______(Rupees ___________________ only) for the excess amount received by us under Performance-based Rebate on Incremental Exports (PRIE) Scheme of Federal Government. (Authorized Signature of the Exporter) (Name & Seal) Note : Demand Promissory Note is required to be endorsed by the bank concerned in favor of Financial Inclusion Support Department (FISD) - SBP BSC.

• To be stamped in accordance with the law in force in each Province.