ISLAMABAD: The Capital Development Authority (CDA) on Wednesday approved the landmark development-focused budget estimates with total outlay of 49 billion rupees with surplus of 10 billion rupees for the financial year 2020-2021.
As per approved budget estimates, expected receipts are 49 billion rupees, while expected expenditure is 39 billion rupees.
Out of Rs39 billion, Rs24.5 billion, which is 63 percent will be spent on 89 development projects, while Rs14.4 billion, which is 37 percent will be spent on non-development expenditure.
The budget estimates for financial year 2020-2021 are in contrast to previous year, whereby total budget outlay was 20 billion with 36 percent development, while 64 percent non-development expenditure.
Out of 49 billion rupees receipts, the CDA will receive 5,843.288 million rupees from federal from the PSDP, and 2,601.44 million rupees from the federal government as maintenance grant.
The CDA will generate 4,310 million rupees from its own revenues including transfer fee, building fee, water charges, property tax etc..
Similarly, the CDA is expected to generate 24,585.28 million rupees from auction proceeds including sale of new Blue Area sale, sectoral auctions, Extension of Park Enclave etc, while amount of 1,568.77 million rupees is expected to be transferred from the MCI.
Revised estimates for financial year 2019-2020 have also been approved.
The approval was granted by the CDA Board in its meeting held at the CDA headquarters.
The CDA has managed 49 billion rupees budget, despite the fact that in the last four years, the CDA spent more than 22 billion rupees on the MCI, out of which around 16 billion rupees are still outstanding.
As per approved budget estimates for year 2020-2021, the CDA will spend money on 89 development projects in Islamabad, the largest ever number for single year of development projects in the capital city.
Out of these 89 development projects, 66 development projects are new, while 23 are the ongoing development projects.
The main development projects for the next financial year include Construction of Korang Bridge, PWD Underpass, Water from Indus feasibility and land acquisition, and Construction of 10th Avenue from the Public Sector Development Programme (PSDP).
From its own resources, the CDA will fund the projects, which mainly include City Rehabilitation Projects, which include low-cost housing for slums, cleaning of nullahs, public toilets, smart traffic system, housing for BPS-01 to BPS-16 employees, preservation of green areas, forests parks, land fill, and public transport.
Similarly, projects like construction of interchange at 7th Avenue and Park Enclave Extension will also be funded from the CDA's own resources.
Non-development expenditure will include 2,601.44 million rupees as maintenance grant, 11,877 million rupees as employees' related and operational expenses, and 2,112.40 million rupees as the MCI expenditure for three months.
Comments
Comments are closed.