DMC East manages to break even at Rs3.3b
Photo: file
The District Municipal Corporation of the East district of Karachi division says it will manage to break even on income and expenses with a budge of Rs3.3 billion for the financial year of 2022-23.
East District Administrator Rehmatullah Sheikh in the presence of Municipal Commisioner Faheem Khan, approved the balanced budget of Rs3.31 billion for the financial year (FY) 2022-23 for DMC East presented by Chief Accounts Officer Naveed Khan Kolachi.
Kolachi and Accounts Officer Javed Sheikh in a briefing on the budget said that Rs1,650 million in OZT, Rs700 million in property tax, Rs100 million in betterment tax, Rs550 million in terms of immovable property fee and a revenue of Rs312.70 million is expected from own resources in the FY 2022-23. Thus the total projected revenue is R3,312.70 million.
As far as the expenditure for the year is concerned, the allocation is set as, Rs1,842 million has been earmarked for Establishment, Rs351 million for Salary Expenditure, Rs162.50 million for Repair and Maintenance and Rs956 million for Development Expenditure.
Thus the budget of the Eastern Municipality is balanced.
Administrator Eastern Municipality Rehmatullah Sheikh approved the budget presented by Municipal Commissioner Fahim Khan under the powers given to him by the council and reiterated his hope that the budget of Eastern Municipality for the current financial year 2022-23 would facilitate the residents of the Eastern Municipality.
Due to the increase in the prices of petroleum products, prices of everything has increased, but we have tried to increase development spending as much as we could. Every possible step has been taken to reduce non-development expenditure. This is the reason why the budget of Eastern Municipality is limited to only Rs351.70 million.
On this occasion, the budget was approved in the presence of Superintendent Engineer B&R Salman Memon, Director Advertising Hamad Khan, Director Admin Khurshid Ali and officers of other departments.
Published in The Express Tribune, July 4th, 2022.