The Capital Development Authority (CDA) earned more than its targeted revenue during the year 2020 with its account closing at over Rs30 billion at the end of the year, a spokesperson shared on Sunday.
The authority had set the revenue target at Rs24 billion with its collection exceeding by over Rs6 billion, he added.
The spokesperson mentioned that the authority has kicked off development work on the pending projects that were neglected in the past, primarily on the pretext of a shortage of funds. He maintained that 2020 was a successful year for the CDA as it not only overcame its financial problems, but also generated a record revenue amount through taxes, clearance of arrears, auctions of plots and other schemes.
The authority also started up-gradation of different underpasses, interchanges, Inter-Junction Principal Road, Islamabad Expressway and various parks around the city, the spokesperson added.
For next year, he shared, the CDA has set the revenue collection target at Rs50 billion .
Published in The Express Tribune, January 4th, 2021.
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