A performance-based rebate of up to 2 percent has been introduced for exporters who increase their exports compared with the previous fiscal year, effective July 1, 2026.
According to a State Bank of Pakistan (SBP) circular, the scheme covers exporters of both goods and services.
Exporters will receive rebates on incremental export proceeds based on their annual growth:
The scheme also allows exporters to receive 75 percent of the applicable rebate on a provisional basis if their exports in a quarter exceed their average quarterly exports during the previous year.
The remaining rebate will be settled after the end of the fiscal year. If an exporter’s full-year exports exceed the previous year’s level, the final quarter’s rebate and any remaining amount from earlier quarters will be paid.
If full-year exports are equal to or lower than the previous year, provisional rebates paid during the first three quarters will be recovered by the designated bank and returned to the SBP within 15 days of the year-end.
The rebate will be calculated on incremental export proceeds realized in foreign currency. Export proceeds received in currencies other than US dollars will be converted into dollar equivalents using the applicable exchange rate on the date the proceeds are realized.
Each exporter will also be required to nominate one designated bank to consolidate export proceeds received through different banks during the quarter and submit a combined rebate claim to the Financial Inclusion Support Department of SBP Banking Services Corporation.
The designated bank’s Chief Internal Auditor and Chief Compliance Officer must verify and sign the consolidated claims.
SBP has directed banks to inform their exporting customers about the scheme and provide the necessary support for its implementation.
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