COVID-19 impact: CAAN ‘s income down by 43 per cent « Khabarhub
Sunday, June 16th, 2024

COVID-19 impact: CAAN ‘s income down by 43 per cent

08 August 2020  

Time taken to read : 2 Minute

  • A
  • A
  • A

KATHMANDU: The Civil Aviation Authority of Nepal (CAAN) has recorded 43 per cent decline in its annual income owing to the COVID-19 pandemic.

With declined income, the CAAN has failed to launch its planned activities.

The annual progress report released by the CAAN stated that it lost some Rs 4.5 billion in the last fiscal year. It has regular income from PSC, landing, parking, navigation, rent etc.

Airport development fee is another source of income.

In the wake of decreased income, the CAAN has allocated Rs 41.11 billion amounts in its annual budget for fiscal year 2020/21. In the previous year, its annual budget was Rs 46.96 billion.

Director General at the Authority, Rajan Pokhrel, informed that they allocated budget by prioritizing the under-construction international airport.

The budget has also focused on institutional reform, upgrading of airport, communication and safety devices, expansion of international airport, and human resources.

The CAAN had expected increased income after the government had announced Visit Nepal Year 2020.

But, it is nearly five months the country has not have international and domestic flights for commercial purpose owing to the COVID-19 pandemic.

Publish Date : 08 August 2020 19:57 PM

Justice Raut appointed as a Judicial Council member on Sunday

KATHMANDU: Supreme Court Justice Prakash Man Singh Raut has been

NEPSE declines by 17 points, transactions worth Rs 5.5 billion

KATHMANDU: The Nepal Stock Exchange (NEPSE) saw a decline on

Budget’s provisions facilitate tax evasion for certain business groups: Dr. Arzu Deuba

KATHMANDU: Nepali Congress (NC) lawmaker Dr. Arzu Rana Deuba has

UML leader Bhattarai accuses govt of favoritism in FY budget

KATHMANDU: The CPN-UML, a coalition partner in Prime Minister Pushpa

Govt faces Rs 250 billion budget deficit in 11 months

KATHMANDU: The government of Nepal is facing a budget deficit