CDA’s auction falls flat on last day

Generates just Rs3.66b as body pulled 14 plots out of the auction on last day

ISLAMABAD: The economic downturn in the country appeared to catch up with efforts of the apex civic agency in the federal capital to raise funds as it failed to sell even a fourth of all commercial plots it put up for sale in its bi-annual auction.

On Thursday, the third and last day of the two-phase auction at the Jinnah Convention Centre, the Capital Development Authority (CDA), manage to sell just two plots for a combined value of Rs148 million.

The CDA had put up some 46 commercial plots for sale, including plots for apartment complexes, Markaz plots, fuel pumps, industrial plots, marriage hall, hospital and even a timber plot. The body had sold as many as eight commercial plots on Wednesday, the first of two-days commercial plots were to undergo the hammer, raising Rs2.815 billion.

With the economy in stress, the underwhelming response the CDA had received from businessmen on Wednesday continued on Thursday and they could barely make any sales.

The auction was also affected by the CDA’s decision to exclude, at the last minute, 14 plots from the commercial auction because their sale would have affected the proposed master plan of the city. These accounted for over a fourth of the 46 plots put up for sale in the city.

The plots which were excluded from the auction included the three plots in the coveted Blue Area of the city. However, CDA officials said that these plots are expected to be put up for sale when the new master plan of the city has been finalised.

The auction was conducted in a transparent manner and proceedings were supervised by a high-level Auction committee headed by Member Estate.

Earlier, CDA had sold 20 residential plots in the city for a total of Rs690 million. Of the 78 residential and commercial plots put up for sale in the city, only 30 were sold, less than half of all plots put on offer.

CDA reshuffles staff

CDA in a major reshuffle has transferred 299 officials of grade BPS-1 to BPS-16 non-gazetted. Some of these officials had been working on the same post for over 10 years, a CDA statement said.

The reshuffle has been carried out across the board and across all formations of the authority. The transferred employees include those officials who have been working in the same formations more than three years.

Prime objective behind this reshuffle is to improve service delivery, transparency and ensuring good governance in the authority. Across the board transfer of employees will help enhance capabilities of the employees.

In the past officials were posted in the same formation with mere shifting of desks. In order to address this issue, prior to reshuffle a month long comprehensive exercise was carried out and it was ensured that the officials working on the same post, same wing and same desk be transferred. Transferred officials mostly include those who have been working on the same post for more than decade. The transfer has been made in Land and Rehabilitation Directorate, Estate Management-I and II, Planning Wing, Finance, Public Relations Directorate, Engineering Wing and other formations.

Published in The Express Tribune, October 25^th, 2019.