Rs 24.9 billion CDA's surplus budget presented

Capital Development Authority (CDA) on Monday presented a surplus budget of Rs 24.9 billion for the fiscal 2007-08, showing an increase of 18 percent over the last fiscal. Kamran Qureshi, Acting Chairman CDA, flanked by members engineering, planning, estate and treasury announced the budget at news conference.
According to the budget documents, as much as 79 percent of the total budget will be spent on development while the remaining 21 percent would be non-development expenditure.
Addressing on the occasion, Kamran Qureshi said that CDA has been able to spend only 50 percent of its total development budget during the last financial year against 40 percent during 2005-06 and he was hopeful that around 70 percent budget would be spent during the current fiscal.
He said that no new tax has been proposed and increase in pay and pension would be the same as announced by the federal government for all regular employees and pensioners. However, there was no increase in the pay of the contract employees.
Qureshi said that focus of the new budget is on development with record allocation of Rs 19.7 billion which is 17 percent more than the development budget of 2006-07.
An amount of Rs 5.2 billion has been allocated for non-developmental expenditure against Rs 4.3 billion last year, showing an increase of 21 percent. Besides, Rs 1.05 billion has been allocated under PSDP against Rs 1.6 billion during 2006-07 with a negative balance of Rs 644.6 million.
The acting chairman said that in the development budget, roads, water supply, new sectors development, sewerage and environment have been allocated maximum funds. He claimed that almost 90 percent mega development projects were completed on time.
The total amount earmarked by the federal government for the year 2007-08 is Rs 1.91 billion including Rs 170 million foreign loan, which is 8 percent of the total budget, he added. He said that Rs 100 million would be spent on the development of new industrial sector in I/17 for which negotiations are underway with traders' community.
According to the estimated receipts, Rs 1050.297 million and Rs 865 million would be received under grant-in-aid and grant-in-maintenance, respectively. Besides, Rs 2 billion would be received through CDA own sources, including Rs 550 million through property tax, Rs 285 million through water charges, Rs 116 million through toll tax, Rs 21.75 million through environmental/horticulture receipts, Rs 142.8 million through municipal receipts, Rs 13.8 million through sanitation receipts, Rs 125 million through miscellaneous receipts and Rs 2000 million through interest on deposits. A major chunk of Rs 19.8 billion would be received through joint venture/auction of allotment of commercial and residential plots.
The acting chairman said that to control the non-development expenditure, new posts would only be created to improve revenue generation and enhancing efficiency of the organisation. However, over 2,000 existing vacant posts would be filled during the year, he said.
The CDA has allocated Rs 4.3 billion for non-development expenditure, mainly Rs 2.2 billion for pay and allowances, Rs 1.1 billion for utility charges (gas, electricity, phone, water), Rs 314.95 million for repair work through contract, Rs 146.525 million for POL and CNG, Rs 152.510 million for sanitation expenses, Rs 80 million for hiring of accommodation, Rs 108.32 million for medical expenses, Rs 120.715 million for contingent charges, Rs 239.930 million for other miscellaneous expenses, Rs 200 million for unforeseen expenses and Rs 200 million for expected additional financial implication on account of upgradation of clerical staff and increase in their pay and allowances.