Islamabad: The Capital Development Authority (CDA) on Wednesday approved the development-oriented budget outlay worth PKR 49 billion – with a PKR 10 billion surplus – for (Financial Year) FY2020-21, according to news sources.
The budget was approved by the CDA board. The expected receipts for FY 2020-21 amounts to PKR 49 billion while the expected expenditure is PKR 39 billion. Out of the total expenditure, PKR 24.5 billion (63%) will be spent on 89 uplift projects (66 new and 23 ongoing projects), while PKR 14.4 billion (37%) will be reserved for non-development expenses.
Moreover, the authority expects to receive PKR 5,843.288 million from the Public Sector Development Programme (PSDP) and PKR 2,601.44 million from the government as a maintenance grant. From its own resources, the authority is expected to generate some PKR 4,310 million (in terms of the transfer fee, building fee, water charges, property taxes). Additionally, the CDA is likely to generate PKR 24, 585 million from the new Blue Area sale, sectoral auctions, Extension of Park Enclave auctions, among others. The Metropolitan Corporation Islamabad (MCI) will also be transferring PKR 1,568.77 million to the authority.
The civic authority will use its own resources to fund the low-cost housing for slums, desilting & cleaning of nullahs, smart traffic system, setting up of public toilets, housing for government employees, setting up of forests parks, preservation of green areas, landfill and public transport. Also, the projects like construction of Park Enclave Extension and an Interchange at 7th Avenue and will be funded by the CDA.
Hazafa reveres the art of writing and has been turned into a property enthusiast by profession. Her daily survival kit includes; tea, coffee, keyboard and paperbacks.
