Karachi, August 12, 2025 – In a major relief for Pakistan’s exporters, the State Bank of Pakistan (SBP) has announced the withdrawal of stringent conditions previously imposed under the “Delayed Realization of Export Proceeds” policy.
This move is expected to ease financial pressure on exporters and improve their liquidity.
The decision overturns the requirements introduced through FE Circular No. 02 dated March 31, 2023, which inserted Para 33A into Chapter 12 (Exports) of the Foreign Exchange Manual (FEM). These rules had restricted exporters by marking liens on delayed proceeds, limiting their immediate access to funds.
In its latest notification, the SBP informed commercial banks that the above circular has been withdrawn with immediate effect. Banks have been instructed to release amounts held under lien of exporters and to adopt a simplified reporting mechanism. From now on, banks will only be required to submit Appendix-V20 and Appendix-V21 fortnightly to the FEOD-SBPBSC, detailing all overdue export bills.
Under the previous arrangement, exporters who brought in delayed proceeds by April 30, 2023, could avoid deductions, but any further delay attracted lien deductions based on the duration of delay.
Previous Lien Structure for Delayed Realization of Export Proceeds:
| Delay in Realization | Lien Percentage on Proceeds |
| Up to 30 days | 3% |
| From 31 to 60 days | 6% |
| Beyond 60 days | 9% |
The SBP’s updated policy eliminates these lien deductions entirely, allowing exporters to receive full payments without penalty, regardless of the delay duration.
Industry experts believe this relaxation will significantly boost Pakistan’s export competitiveness. Exporters often face delays due to factors beyond their control, such as international shipping bottlenecks, customs procedures, and buyer payment schedules. The earlier lien policy, they argue, unfairly penalized them for such circumstances.
By removing these restrictions, the SBP aims to support exporters in meeting working capital needs and reinvesting in future orders. This change is also expected to strengthen foreign exchange inflows by encouraging exporters to bring proceeds into the country promptly, without fear of punitive deductions.
With this development, the SBP has sent a clear signal: supporting exporters remains a priority for economic growth and trade stability.