Govt launches PRIE to boost exports

Business Recorder reported that the federal government has launched a Performance-Based Rebate on Incremental Exports, called PRIE, to encourage overseas sales. Eligible exporters may claim up to 2 per cent back on growth in shipments over the previous fiscal year, with the scheme effective from July 1, 2026. The initiative is designed to push exporters to expand abroad and lift the country's overall export performance.

Exporters whose annual growth is up to 10 per cent receive 1 per cent of incremental value, while growth above 10 per cent earns 2 per cent. Firms without annual growth are excluded. Only proceeds realised in foreign exchange count, with non-USD receipts converted to US dollar equivalents, and payments are made in rupees at the SBP's weighted average buying rate on the payment date.

Exporters beating their average quarterly shipments of the previous year receive 75 per cent of the rebate provisionally each quarter, with annual adjustment after the year closes. If full-year exports do not exceed the preceding year, provisional payments from the first three quarters are recovered by banks and returned to SBP within 15 days. Annual claims are due within three months of fiscal year end and the FISD processes them first come, first served.