The Presidents/Chief Executives

All Islamic Banks and

All Conventional Banks having Islamic Banking Branches

Dear Sir/Madam,

Prime Minister’s Fan Replacement Program (PM FRP)

1. The Federal Government has introduced ‘Prime Minister’s Fan Replacement Program (PM FRP)’ with a view to promote energy conservation and efficiency. In this regard, Ministry of Energy (Power Division) has issued enclosed notification No.13(59)/2023-NEECA -P-009 dated February 6, 2026 inter alia containing the term sheet for PM FRP.
2. As mentioned in the term sheet, the Federal Government is providing 10 percent first loss credit guarantee to financing banks. With regard to credit guarantee claims of banks, the settlement mechanism will be issued separately.
3. The banks are advised to take all necessary steps including their system integration with NEECA online portal, for successful implementation of the program.