PSEB is pleased to inform you that the Financial Incentive application form is now live. You may proceed with applying for the financial incentive on IT & ITeS export remittance receipts during FY2020-21 (1st July 2020 to 30th June 2021) by accessing your registration dashboard.
For companies/call centers that are not registered with PSEB or registration has expired, are encouraged to register/renew online immediately at PSEB.
You are kindly requested to thoroughly review the Financial Incentive Policy prior to applying for the incentive.
For any queries, please contact PSEB at: 051-9204074 (ext. 119), 051-9201686, fin@pseb.org.pk
Briefly, applicable eligibility criteria for the selection of IT & ITeS companies and call centers for the financial incentive scheme is as follows (for detailed criteria, please refer to the financial incentive policy):
- IT & ITeS companies and call centers must hold valid PSEB registration and NTN.
- Export remittance receipts are against eligible IT & IT-enabled Services and reported in SBP assigned purpose codes.
- Only IT & ITeS export remittances that are received and converted into Pakistani Rupees through SBP’s Authorized Dealers during 1st July, 2020 to 30th June, 2021 (both days inclusive) are eligible.
- IT & ITeS export remittance receipts are equal to or above US$10,000 during FY2020-21.
- Growth rate of IT & ITeS export remittance receipts during FY2020-21 in comparison to export remittances during FY2019-20 is above zero percent.
- Export proceeds retained in foreign currency retention account are not eligible.
- Online application submitted for the financial incentive must be complete including the submission of Proceed Realization Certificates (PRCs) and duly signed statement(s) by the banks(s) certifying export remittances converted into Pakistani Rupees by purpose code during the FY2020-21 and FY2019-20 as per SBP prescribed format, as well as submission of required affidavit on Rs. 100 court stamp paper as per provided format, duly signed by the head of organization in Pakistan, company stamped and attested by the notary public.
- Original affidavit is required to be submitted to Manager Domestic Business Facilitation, PSEB Head Office, 2nd Floor, Evacuee Trust Complex, F-5, Agha Khan Road, Islamabad
- Financial incentive will be processed for disbursement in Pakistani Rupees against eligible IT & IT-enabled Services, based on the applicable financial incentive rate and applicable only on amount of increase in export remittance receipts from FY2019-2020 to FY2020-2021.
- For the purpose of financial incentive disbursement, applied foreign currency exchange rates for conversion into Pakistani Rupees will be based on yearly average of the respective foreign currency exchange rate during FY 2020-21. For details, please refer to the financial incentive policy.
Application received by PSEB till the submission deadline of 30th April, 2022 or until availability of funds will be processed. No further applications will be accepted or processed after the deadline or after the available funds have been exhausted, without any financial or legal liability of PSEB.
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