May 29, Kathmandu- Now the companies opened for the purpose of exporting information technology services will now be allowed to open contact offices abroad.

Through the budget of the financial year 2080/81, arrangements have been made for foreign exchange facilities up to a certain amount for opening branches of IT companies abroad.

Presenting the budget, Finance Minister Dr. Prakash Sharan Mahat informed that arrangements have been made to set up contact offices in third countries for industries that are run for the purpose of exporting information technology services.

"For opening contact offices abroad, buying software programs and equipment, up to 10 percent of the foreign currency earned by the industry will be provided with currency matching facilities", he said.