The Capital Development Authority’s (CDA) board on Friday approved Rs45.8 billion budget for the financial year 2014-15 with a focus on more revenue generation through sale of land and developing new and stalled residential sectors. A major chunk of the total outlay has been set aside for development projects.
The outlay is approximately 35 per cent higher than the previous year’s allocation, which was Rs33.9 billion.
Revenue generation
The CDA anticipates a revenue generation of Rs41.92 billion through its own resources, while the federal government has allocated around Rs3.9 billion for the civic agency under the Public Sector Development Program (PSDP) and annual maintenance grant.
The authority expects to generate Rs26.83 billion through sale of residential and commercial plots, Rs8 billion through developing new residential sectors and Rs7.09 billion trough collection of municipal taxes and duties.
Development, non-development projects
In the current financial year, Rs30.14 billion, 66 per cent of the total outlay, has been allocated for developmental projects, while Rs15.7 billion for non-developmental expenditures.
Capital Development Authority budget
Priority schemes
An amount of Rs5.4 billion has been set aside for some 22 priority developmental projects, the authority intends to initiate on an immediate basis. The civic body has earmarked Rs1 billion for phase-II of the underconstruction Margalla Highway project, Rs500 million for development of Park Enclave, the much-delayed crown in the jewel residential housing scheme. The authority has set aside Rs500 million for upgradation of 7th Avenue, Rs350 million for construction and development of car parking areas across the capital city, Rs250 million for construction of two underpasses on Faisal Avenue, Rs200 million for construction of semi-covered markets and Rs100 million each for construction of a slaughterhouse and apartments for its low-grade employees.
According to the budget outlay, Rs100 million will be spent on upgradation and addition of new blocks in the Capital Hospital.
Allocations have also been made for repair and maintenance of several facilities in developed sectors.
New and stalled sectors
The CDA has allocated a significant amount of Rs13 billion for the development of new and stalled sectors.
An allocation of Rs500 million has been made for the development of three new residential sectors — C-14, C-15 and C-16. Another Rs500 million has been allocated for the development of stalled residential sectors including Sector I-15.
Similarly, an amount of Rs400 million has been allocated for the development of Sector I-12, Rs200 million for development of Sector I-12 Markaz, Rs200 million for development of Sector D-12 Markaz.
Similarly, Rs200 million has been set aside for fencing of CDA land to save it from encroachers and Rs225 million has been set aside for the development of Kuri Model Village.
Allocations have also been made for the establishment of public facilitation centres, installation of solar system on traffic signals and improvement of water supply system through external sources.
Meanwhile, CDA Chairman Maroof Afzal said that in the budget main focus is on opening of stalled and new residential sectors to overcome housing units shortage.
He said that the authority will ensure financial discipline and non-development expenditures would be curtailed.
He said that the budget was all inclusive starting from provision of civic amenities to the people to development of new sectors.
Published in The Express Tribune, June 28th, 2014.
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