Rs6 billion surplus budget for RMC
PHOTO: FILE
The Rawalpindi Metropolitan Corporation (RMC) has prepared a Rs6 billion surplus budget for the 2021-22 financial year in which no new tax has been imposed nor any tax has been increased. The budget has been sent to RMC Administrative Commissioner Syed Gulzar Shah for final approval.
The share for development in the budget has been kept at Rs3 billion, including last year’s ongoing and this year’s development schemes. However, the new development schemes will be finalised in consultation with elected members of the assemblies.
The budget has been prepared under the supervision of RMC Chief Officer Ali Abbas Bukhari and Finances Officer Raja Iftikhar.
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The RMC will have an expected revenue of Rs3 billion in terms of its sources of taxes, building commercialisation fee, valuation fee, urban immovable property tax (UIP), transfer property tax (TIP) rent, and lease charges. While the initial balance transferred from last year related to ongoing development schemes is Rs1.5 billion.
The suggestions for development scheme and general works which will include road infrastructure, street lights, construction of big and small drains, and other projects have been sought from members of the National and Provincial assemblies.
The RMC non-development expenditure will be Rs1 billion on salaries while Rs500 million will be spent on pensions.
The money from the General Fund will be transferred to the Pension Fund which has been named as Bailout Package for pensions while Rs500 million has been earmarked for utility services and miscellaneous expenses. Around Rs30 million has been allocated for the sports fund.
Published in The Express Tribune, July 4th, 2021.