CDA envisages Rs100b surplus budget
The Capital Development Authority (CDA) has envisaged an Rs308 billion budget including an expected Rs100 surplus budget for the fiscal year 2021-22.
During the CDA board meeting held at the headquarters on Thursday, amongst the agenda items were CDA receipts and expenditures for the year 2022-23. “This is the first-ever budget of CDA that is not based on auction receipts. Auctions have only been proposed to maintain a constant supply of commercial space in the city,” said a statement issued by the civic agency.
It said: “This is the first time in the history of CDA that a statement of income and receipts are not reliant on auctions. Traditionally, it has often been said that CDA sells plots and pays salaries. However, for the first time, the trend is being changed”.
“The revised estimates for 2021-22 are still closing with a surplus of nearly Rs68 billion. It said that estimates have been envisaged at Rs308 billion for the financial year 2022-23. It said that the primary source is revenue-generating projects of the CDA.
In 2021-22, the CDA made the highest expenditure on development “This is a complete reversal from inefficient trends historically associated with budget heavily tilted towards non-development,” he said.
It was recommended at the board meeting to make free service available to female passengers in the proposed Islamabad bus service.
Published in The Express Tribune, April 1st, 2022.