The State Bank of Pakistan (SBP) has officially announced the issuance of a revised format for the Electronic Proceeds Realization Certificate (ePRC), responding to a long-standing industry demand led by PASHA. The change, which comes into effect on October 1, 2025, is being hailed as a significant policy achievement for Pakistan’s IT and IT-enabled Services (ITeS) exporters. This development was made possible through continuous advocacy by PASHA, with strong support from Pakistan Software Export Board (PSEB), Special Investment Facilitation Council (SIFC), and the Ministry of IT and Telecommunication (MoITT).
One of the most important changes in the updated format is the inclusion of retained foreign exchange (FX) amounts within PRCs. This element had been missing in previous versions and had long been a challenge for exporters, particularly when demonstrating FX retention to qualify for incentives or fulfill compliance documentation. With the new format, Authorized Dealers (ADs) will be required to reflect retained FX amounts clearly in both ePRCs and S-PRCs, offering much-needed clarity and alignment with modern export and remittance reporting practices.
The revised ePRC format is a crucial step toward simplifying export procedures, especially for IT firms that operate in a digital economy where accurate documentation plays a critical role in gaining investor confidence, tax treatment, and eligibility for export-related benefits. By including FX retention details, exporters will be better positioned to meet requirements for repatriation and reinvestment, particularly in high-growth areas like software development, BPO, SaaS, and global IT consulting.
This policy shift comes after extensive engagement between public and private sector stakeholders. Over recent months, PASHA has been at the forefront of raising concerns from the IT community, engaging directly with regulators and coordinating with PSEB and MoITT to align efforts. SIFC has also played an instrumental role in bringing visibility to the importance of export-friendly documentation and aligning national strategy with the interests of the tech ecosystem.
The new ePRC framework is expected to improve Pakistan’s ease of doing business ranking, particularly in the digital services sector. By standardizing FX tracking and export documentation, it will also help reduce friction between exporters and financial institutions, fostering better transparency and smoother audit and compliance processes. For startups and mid-tier tech firms, this change could prove especially beneficial as they scale globally and need streamlined documentation to validate revenue flows.
This progress is also part of a larger effort to make Pakistan a more attractive destination for digital business and global outsourcing. As digital exports rise, the ability to track proceeds accurately and demonstrate financial stability is becoming essential. The updated ePRC will serve as a more robust record of export earnings, enhancing both national reporting accuracy and firm-level operational efficiency.
The official announcement and revised format have been made available through SBP’s circular, and further information can be accessed here. The revision is widely being recognized as a collaborative win for the IT industry, affirming how coordinated policy efforts between PASHA, PSEB, SIFC, and MoITT can help address regulatory friction and promote sustainable tech exports.
