September 20: The Civil Aviation Authority of Nepal (CAAN) has come up with a budget worth Rs 46.96 billion for the fiscal year 2019-20. In the last fiscal year, it had allocated a budget of Rs 45.17 billion.
The budget is zeroed in on the construction and improvement of national pride projects and various airport-related infrastructures across the country.
The budget has talked about operating the Tribhuvan International Airport (TIA) round-the-clock and carrying out its rehabilitation and other maintenance works. The CAAN has allocated Rs 3.88 billion for this purpose.
Through the budget, it has also announced plans to complete the construction of other roads around the Nijgadh International Airport and cut down trees in the project area within this fiscal year in coordination with Nepali Army.
Similarly, CAAN is distributing bonus worth Rs 1.26 billion to its employees. It plans to manage 37 percent of its total budget through loans, shares and grants. Similarly, 32 percent will be managed through bank reserves, 18 per cent from income, five percent from airport development fee and seven per cent will be collected from outstanding dues.
According to CAAN, it will spend 72 percent of the budget on capital expenses, nine percent on recurrent expenditure and six percent to pay value-added tax. Likewise, one percent will be spent to distribute dividend, three percent for bonus and two percent to pay principal and interest on its loans. In the same vein, one percent will be deposited in aircraft operation fund, fixed assets substitute fund and two percent for income tax.
