Islamabad: The Capital Development Authority (CDA) is likely to announce a development budget of PKR 308 billion in the fiscal year (FY) 2022-23, news sources reported on April 1. For the first time, the CDA is going to present a surplus budget for development.
Reportedly, the budget will be submitted for approval at the next board meeting. It was also observed that the CDA has developed a budget that wouldn’t rely on the proceeds from the auction of its commercial plots in the city. The auctions have been proposed in the latest budget solely to maintain a constant supply of commercial space in the city.
The CDA still has a PKR 68 billion surplus from the current budget year 2021-22. The current fiscal year is likewise noteworthy in terms of the authority’s highest ever expenditure of development funds. In FY 2021-22, CDA made the highest investment in development, and the predicted goal is for around 80% development and 20% recurring.
In another development, the CDA’s Director General (DG) water management convened a public hearing to address residents’ water concerns in order to make the CDA more citizen-centred. The e-kutchery was held on the official Facebook page of the authorities. It was said that individuals’ issues will be addressed within 24 hours of filing complaints.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
