June 4, 2021
Record Rs156bn Budget Approved For CDA
0 Comments

Record Rs156bn Budget Approved For CDA

Islamabad: The Capital Development Authority (CDA) approved a record budget of Rs156 billion for non-development and development expenditures for the fiscal year 2021-22 on Wednesday.

 

The CDA board, which met at the CDA headquarters with Chairman Amer Ali Ahmed in the chair approved the budget, which was presented by Member Finance Shakeel Jazeb.

According to the budgetary records, no significant initiatives are scheduled for the 2019 fiscal year, with the emphasis being placed on current initiatives.

According to CDA officials, Rs40 billion has been allocated for various development projects, including Rs2 billion for construction of houses for low-income people in Farash Town, Rs60 million for the Rawal Chowk Signal Free Corridor, and Rs10 million for Margalla Avenue, in addition to I.J. Principal Road, PWD Underpass, 7th Avenue, 10th Avenue, a new slaughterhouse, and a ladies club. In addition to the aforementioned allocation, Rs5 billion has been set aside for city beautification and renovation projects such as water supply, street lighting, sanitation, and park projects.

According to CDA authorities, the expected expenditure for the upcoming fiscal year is Rs82 billion, with a revenue collection of Rs156 billion and a surplus of Rs73 billion. However, a significant portion, Rs58 billion, is stated to be receivable from several organizations, the recovery of which is unclear. For the previous two years, there was no such revenue source in the CDA budget.

The officials said, there are Rs58 billion in overdue receivables from Rawalpindi Cantonment Board, Wasa Rawalpindi, Islamabad Electric Supply Company (IESCO), PTV, universities, and clubs, etc.

Despite the aforementioned uncertain recovery, the CDA’s budget remains historical, since the previous year’s budget was Rs49 billion, and the budget for the next year has been increased to Rs156 billion.

 

Leave a Comment

Your email address will not be published.