September 7: The Civil Aviation Authority of Nepal (CAAN) has endorsed a budget of Rs 36.66 billion for the fiscal year 2023/24.    

A meeting of CAAN’s Board of Directors approved the budget of Rs 36.66 billion for the current fiscal year.    

CAAN spokesperson Jagannath Niraula said the budget for the current fiscal year has been allocated by determining priority sectors including aviation and air safety, infrastructure development, airport operation etc.    

According to Niraula, the budget has prioritized collaboration with international organisations, increasing the services and facilities for passengers, income generation and fiscal discipline and human resources development, among others.    

CAAN has set the target of generating income of Rs 15.88 billion in the current fiscal year.

However, looking at the records of CAAN, the aviation regulatory body has failed to meet its income target in the last four years.

The CAAN admitted that it has not been able to generate income as per the target since the fiscal year 2019/20 due to the coronavirus pandemic.

The CAAN earns income from fees collected from landing, parking, ground handling of aircraft as well as the rent of the airport and physical infrastructures of the CAAN. (With inputs from RSS)