Govt launches PRIE to boost exports

The Pakistani government has introduced a new initiative called Performance-Based Rebate on Incremental Exports (PRIE), set to commence on July 1, 2026. This program aims to incentivize exporters by providing a rebate of up to 2 percent of their export growth, compared to the previous fiscal year. Eligible exporters can receive this rebate in Pakistani Rupees (PKR), calculated using the weighted average customer exchange rate published on the State Bank of Pakistan (SBP) website on the rebate payment date.

All exporters, including those in both goods and services, are eligible to benefit from the scheme. The rebate is based on performance, with exporters achieving annual export growth of up to 10 percent eligible for a 1 percent rebate, and those exceeding 10 percent eligible for a 2 percent rebate. The export year is determined from July 1st to June 30th each year.

Exporters without growth in annual exports are not eligible for the rebate. Payments are made in USD equivalent for non-USD exports. Quarterly disbursements are provisional and subject to annual adjustment if the exporter's exports exceed the previous year's. If full-year exports are less than the previous year's, the provisional rebate payments can be recovered within 15 days of the year's close.

The scheme will undergo verification by the Chief Internal Auditor and Chief Compliance Officer of the designated bank before processing. Annual rebate claims must be submitted within three months of the fiscal year's close, and claims will be processed on a first-come, first-served basis by the Financial Intelligence and Surveillance Division (FISD).