25/08/2026
SBP Introduced Performance Base Rebate Scheme, All Exporters advised to read it Carefully.
State Bank of Pakistan’s (SBP) Circular No. 05 of 2026 regarding the Performance Based Rebate on Incremental Exports (PRIE), dated August 24, 2026:
1. Overview & Effective Date
* Objective: The scheme is introduced by the Government of Pakistan to incentivize exporters who demonstrate export growth compared to the preceding fiscal year.
* Effective Date: It takes effect retroactively/proactively starting July 1, 2026.
* Target Audience: Addressed to the Presidents and CEOs of all banks to disseminate and support implementation.
2. Eligibility Criteria
* Applicability: Both exporters of goods and services are eligible to participate in and benefit from the scheme.
* Tiered Rebate Structure:
* Up to 10% Export Growth: Exporters achieving annual export growth of up to 10% over the previous fiscal year receive a 1% rebate on the value of incremental exports achieved.
* More than 10% Export Growth: Exporters achieving annual growth exceeding 10% receive a 2% rebate on the incremental export value.
* Zero or Negative Growth: Exporters with no annual export growth compared to the preceding fiscal year are completely ineligible for the scheme.
3. Payment Mechanism
* Quarterly Disbursements:
* Exporters whose quarterly exports exceed their average quarterly exports from the preceding year will receive 75% of the applicable rebate on a quarterly basis.
* Annual Reconciliation & Adjustments:
* At Year-End (Surplus): If total full-year exports exceed the previous year's baseline, the exporter is paid the final quarter's rebate along with any residual balance from the first three quarters.
* At Year-End (Shortfall): If full-year exports fall below or equal to the previous year's level, any provisional rebate payments made during the first three quarters must be recovered by designated banks and remitted back to the SBP within 15 days of the close of the year.
4. Operational Compliance & Next Steps
* Annexures: The circular notes that the detailed implementation mechanism and claim forms are enclosed as Annexure-I and Annexure-II, respectively.
* Bank Responsibilities: Banks are instructed to actively notify their corporate and individual exporter clients about this scheme and ensure smooth, effective ex*****on.
