KATHMANDU, SEPTEMBER 7
The Civil Aviation Authority of Nepal (CAAN)'s board of directors has endorsed a budget of Rs 36.5 billion for the fiscal year 2023-24. The authority had allocated a budget of Rs 41.85 billion in the last fiscal year 2022-23.
According to CAAN Spokesperson Jagannath Niraula, the budget for the current fiscal year has been allocated by determining priority sectors including aviation and air safety strengthening, infrastructure development, airport operation, etcetera. He shared that the budget has prioritised collaboration with international organisations, increasing services and facilities for passengers, generating additional income, and maintaining fiscal discipline and development of human resources, among others.
While the authority has allocated Rs 19.39 billion for capital expenditure, around Rs 2.11 billion is estimated to be spent on staff expenses in the current fiscal year. CAAN has set the target of generating income of Rs 15.88 billion in the current fiscal year and has estimated to receive around Rs 6.64 billion from loan/share investment.
A version of this article appears in the print on September 08, 2023, of The Himalayan Times.
