CAAN will be unbundled within this year: Finance Minister
▸ Part of: Nepal's Budget: Rs 286.48 Billion for Infrastructure, Market Reforms Announced
The Civil Aviation Authority of Nepal (CAAN) will be unbundled by the end of the year to remove Nepal from the EU air safety list, announced Finance Minister Swarnim Wagle. CAAN will be split into a regulatory authority and an Air Service Authority for airport operations. The budget also introduces a hedging fund, allows non-resident Nepalis to participate in the secondary market, offers a tax settlement scheme, doubles the personal income tax exemption threshold, scraps excise duties on 360 goods, and reduces customs duties on industrial raw materials. Shareholding in Nepal Telecom will be reduced, and an AI Compute Center will be established.
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