Kathmandu. KATHMANDU: The government has decided to provide additional exchange facility to companies that import foreign currency by exporting software and information technology (IT) from Nepal. Nepal Rastra Bank (NRB) has issued a new provision to provide prepaid dollar card facility up to USD 5,000 annually to IT exporters for ease of doing business.
Although the general IT industry can get a limit of up to $ 3,000 annually to buy services online, the NRB has become flexible in the case of industries involved in exports. Based on the foreign currency earned, such companies will get exchange facility up to $ 2,000 (total $ 5,000).
This facility especially helps Nepali startups and software companies working abroad to be competitive in the international market. They will be able to spend a portion of the money they earn on cloud storage, server hosting, and the purchase of necessary software for the expansion of the business.
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