RMC fails to achieve revenue target

Rs100 m was to be recovered from properties owned by municipal corporation, so far only Rs60 m could be recovered

RAWALPINDI:

The Rawalpindi Municipal Corporation Rawalpindi has failed to achieve its revenue target from January 1, 2022, to June 30, 2022, after the dissolution of the local government.

The corporation is facing a severe financial crisis as the target of property rent, building fee, commercialisation fee and valuation fee could not be achieved in the last six months.

For the current year, Rs100 million was to be recovered from properties owned by the municipal corporation and so far only Rs60 million could be recovered.

In terms of building fee, only Rs17 million could be recovered against the recovery target of Rs50 million.

The target for commercialisation fee was Rs320 million, however, no recovery could be made in this regard. In the case of building construction violations, only Rs13 million could be recovered against the target of Rs100 million.

The target of Rs97 million in rent from major markets in the city could not be achieved due to stay orders issued by courts.

Sources said that if the RMC did not overcome the revenue shortfall, it could face the worst financial crisis in the coming days.

Published in The Express Tribune, June 12^th, 2022.