Restrictions on foreign investment in the information technology sector will be removed

The government is going to remove the limit on foreign investment in the information technology sector.

Presenting the budget for the financial year 2080/81 at the joint meeting of the Federal Parliament, Finance Minister Dr. Prakasharan Mahat said this.

He said that up to 10 percent of the foreign exchange earnings made by the industry will be provided to the industries operating for the purpose of exporting information technology services to establish contact offices in third countries and to purchase software or programs and install equipment.

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