Outsourcers can get upto $20,000 foreign exchange facility per year
The central bank has allowed manpower agencies to get foreign exchange facility of up to $20,000 per year to cover their official expenses abroad.
The manpower agencies have since long been asking the central bank to allow them the facility as they have to spend foreign currency during their marketing and payment for agents but not allowing them to have the exchange facility means they have to illegally pay their agents. The central bank has also promised in its Monetary Policy to provide such facility within this fiscal year.
The Foreign Exchange Management Department under the central bank said that the outsourcing agencies can get such foreign exchange facility based on their business volume.
An outsourcer that recruits less than 100 Nepali migrant workers can get foreign exchange facility of up to $10,000 per year, whereas larger manpower agencies that recruit over 100 Nepali migrant workers abroad can get up to $20,000 foreign exchange facility per year.