CDA approves Rs49b budget
Almost 63 per cent will be spent on 89 projects
PHOTO:AFP
ISLAMABAD:
Capital Development Authority (CDA) has approved landmark development focused budget estimates with total outlay of Rs49 billion with surplus of Rs10 billion rupees for the financial year 2020-2021.
As per budget estimates approved by the CDA Board in its meeting held at the authority’s headquarters on Wednesday, expected receipts are Rs49 billion while expected expenditures are Rs39 billion.
According to a statement issued by the authority, out of Rs39 billion at least Rs24.5 billion – almost 63 per cent ¬ will be spent on 89 development projects while Rs14.4 billion or 37 per cent will be set aside for non-development expenditures. The budget estimates for financial year 2020-2021 are in contrast to previous year whereby total budget outlay was Rs20 billion with 36 per cent development while 64 per cent non -development expenditure .
Out of Rs49 billion receipts, CDA will receive Rs5.84 billion from federal Public Sector Development Programme (PSDP) and Rs2.6 billion as maintenance grant from the federal government.
CDA will generate Rs4.3 billion from its own resources including property transfer fee, building regularisation fee, water charges, property tax and such.
Similarly CDA is expected to generate Rs2.45 billion from auction proceeds of plots. The authority is planning to auction plots in New Blue Area and Park Enclave Extension.
Meanwhile, CDA is also expecting Islamabad IMC to transfer Rs1.56 billion rupees. Revised estimates for financial year 2019-2020 have also been approved. The board noted that CDA has managed to present a Rs49 billion budget despite the fact that in last four years it has spent more than Rs22 billion on IMC out of which around Rs16 billion are still outstanding.
As per approved budget estimates for year 2020-2021, 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 are new while 23 are on-going schemes. These projects will be completed from PSDP grants.
The main development projects for next financial year include construction of Korang Bridge, PWD Bridge, feasibility report for channelling water from Indus River, and land acquisition and construction of 10th Avenue.
CDA will fund the projects from its own resources which mainly include city rehabilitation projects which includes low-cost housing for slums, cleaning of nullahs, public toilets, smart traffic system, housing for employees of basic pay scale one to 16, preservation of green areas , forests parks, development of garbage landfill and public transport.
Similarly projects like construction of interchange at 7th Avenue and Park Enclave Extension will also be funded from CDA's own resources.
Non-development expenditure will include Rs2.6 billion as maintenance grant, Rs11.8 billion as employees related and operational expenses and Rs2.1 billion as IMC expenditure for three months.
Published in The Express Tribune, June 18th, 2020.
Capital Development Authority (CDA) has approved landmark development focused budget estimates with total outlay of Rs49 billion with surplus of Rs10 billion rupees for the financial year 2020-2021.
As per budget estimates approved by the CDA Board in its meeting held at the authority’s headquarters on Wednesday, expected receipts are Rs49 billion while expected expenditures are Rs39 billion.
According to a statement issued by the authority, out of Rs39 billion at least Rs24.5 billion – almost 63 per cent ¬ will be spent on 89 development projects while Rs14.4 billion or 37 per cent will be set aside for non-development expenditures. The budget estimates for financial year 2020-2021 are in contrast to previous year whereby total budget outlay was Rs20 billion with 36 per cent development while 64 per cent non -development expenditure .
Out of Rs49 billion receipts, CDA will receive Rs5.84 billion from federal Public Sector Development Programme (PSDP) and Rs2.6 billion as maintenance grant from the federal government.
CDA will generate Rs4.3 billion from its own resources including property transfer fee, building regularisation fee, water charges, property tax and such.
Similarly CDA is expected to generate Rs2.45 billion from auction proceeds of plots. The authority is planning to auction plots in New Blue Area and Park Enclave Extension.
Meanwhile, CDA is also expecting Islamabad IMC to transfer Rs1.56 billion rupees. Revised estimates for financial year 2019-2020 have also been approved. The board noted that CDA has managed to present a Rs49 billion budget despite the fact that in last four years it has spent more than Rs22 billion on IMC out of which around Rs16 billion are still outstanding.
As per approved budget estimates for year 2020-2021, 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 are new while 23 are on-going schemes. These projects will be completed from PSDP grants.
The main development projects for next financial year include construction of Korang Bridge, PWD Bridge, feasibility report for channelling water from Indus River, and land acquisition and construction of 10th Avenue.
CDA will fund the projects from its own resources which mainly include city rehabilitation projects which includes low-cost housing for slums, cleaning of nullahs, public toilets, smart traffic system, housing for employees of basic pay scale one to 16, preservation of green areas , forests parks, development of garbage landfill and public transport.
Similarly projects like construction of interchange at 7th Avenue and Park Enclave Extension will also be funded from CDA's own resources.
Non-development expenditure will include Rs2.6 billion as maintenance grant, Rs11.8 billion as employees related and operational expenses and Rs2.1 billion as IMC expenditure for three months.
Published in The Express Tribune, June 18th, 2020.