RCB approves Rs2.723b balanced budget

Expenses set to go up by Rs341m as compared to last year

RAWALPINDI: The Rawalpindi Cantonment Board (RCB) on Monday approved a balanced annual budget worth Rs2. 722 billion for the upcoming fiscal year 2017-18.

The budget was formally approved during the board’s budget meeting on Monday. RCB President Brigadier Syed Hassan Raza, Vice President Malik Munir Ahmed, Executive Officer Dr Saima Shah and other elected and non-elected members of the board attended the meeting.

The budgetary estimates will now be presented before the Military Lands and Cantonment Rawalpindi region director for approval.

Expenditures

To balance its budget, the RCB has set an expenditure budget which is equal to the income it plans to generate, Rs2.722 billion.

The major chunk of the money or around Rs1.114 billion is likely to be used to pay the salaries and allowances of its employees in the next fiscal year.

The next major expenditure which has been outlined by the RCB for next year includes contingencies – for which the board has set aside an amount of Rs632.797 million.

Further, the board plans to spend as much as Rs300 million for other non-development expenditures.

The authorities have also set aside Rs221 million for various development works in the cantonments such as buildings, sewerage, roads, water supply and other projects for public improvement.

The board will spend a further Rs221 million for maintenance and repair works in and around the cantonment.

For next year, the board will have its closing balance in expenditures as Rs247.510 million.

The total expenditures of RCB have slightly increased from Rs2.132.964 billion in 2016-17 to Rs2.474 billion for 2017-18.

Revenues

According to the budget documents seen by The Express Tribune, the board has estimated that it would earn up to Rs2.430 billion during the next fiscal year with a closing balance of Rs391.187 million.

In the previous budget, the RCB had set a total revenue target of Rs2.346 billion.

Of this sum, the board expects to raise around Rs1.361 billion through taxes and rates charged by the various authorities under its auspices.

Moreover, it plans to generate Rs599.80 million through different means such as land lease and rental fees, fees from bus stops, Sunday markets, residential and commercial buildings.

The board has also earmarked to get another Rs207 million through debt.

Further, the RCB expects to generate around Rs196 million through miscellaneous resources such as development charges and hawker fees.

The board will receive Rs60 million through grants from the provincial and federal governments.

The RCB will also generate Rs6.5 million through fines imposed and collected by the authorities.

Published in The Express Tribune, May 30^th, 2017.