Lahore: Chief Minister (CM) of Punjab Usman Buzdar on Tuesday (August 17) approved the Lahore Development Authority (LDA)’s PKR 63.4 billion development budget for the fiscal year 2021-22, news sources reported. The decision was made during a meeting of the governing body, which was presided over by CM Buzdar.
Moreover, the sources also mentioned that the governing council also approved PKR 48.7 billion in amended budget projections for the fiscal year 2020-21. It has been highlighted that the approved budget is also susceptible to modifications made by the departments of planning and development, finance, and housing. A breakdown of the budget for the development and non-development programmes for the fiscal year 2021-22 includes:
PKR 9.4 billion is already available for the urban development wing (UDW), Water and Sanitation Agency (WASA) and Traffic Engineering & Planning Authority (TEPA)
PKR 22.5 billion and PKR 41.4 billion to be received from the government as non-development, annual development programme and deposit work receipts
The LDA, on the other hand, is expected to spend PKR 61 billion in the fiscal year 2021-22. The authority has set aside PKR 36.6 billion for urban development projects, PKR 24 billion for the Water and Sanitation Agency (WASA), and PKR 342 million for TEPA programmes and other development and non-development initiatives.
The body has approved a six-month extension to the validity of a commission set up ‘for the rights of bona fide purchasers and the issues related to illegal housing schemes’. Moreover, PKR 500 million bridge financing for LDA City Naya Pakistan Apartments, amendments to LDA building and zoning regulations 2019 and a few other proposals were also approved.
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