Capital Development Authority (CDA) has decided to further cut non-development expenditures by bringing financial discipline under a well organised management system and execute self-sustainable projects in the future, said Imtiaz Inayat Elahi, Chairman CDA, here on Saturday.
The civic body is taking concrete measures to improve financial discipline under short and long-term strategies, he said during his meeting with a 37 member delegation of Probationary Officers of District Management Group (DMG) from Civil Services Academy, Lahore, who visited CDA Headquarters. Member Environment, Mian Waheed-ud-Din, was also present on the occasion.
Elahi said CDA is the first municipality of the country, which is contemplating to launch municipal bonds to finance its development projects. "We have introduced double entry system for the first time while self-sustainable policy has been adopted to execute projects of different nature so that dependency on government resources could be avoided", he said. He informed that CDA has reduced non-development expenditures to a great extent, especially under the head of telephone and POL charges of vehicles. He also said funds have been allocated for the development and up-gradation of underdeveloped sectors and markets, adding that the projects would be executed after seeking recommendation of residents of the city.
On the occasion, Member Environment, Mian Waheed-ud-Din briefed the delegation about the functions of the civic agency, its administrative structure, financial affairs and development of the city. He informed the delegation that CDA is developing the city in line with the master plan and had completed many mega-projects during the last 50 years, while some of the projects are in progress. The delegation expressed deep interest in the detailed briefing and asked many questions.
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