CDA approved landmark development budget with total outlay of Rs 49 billion.

 
FREE EXCERPT

Islamabad -- Capital Development Authority has approved the landmark development focused budget estimates with total outlay of 49 billion rupees with surplus of 10 billion rupees for the Financial year 2020-2021.

As per approved budget estimates, expected receipts are 49 billion rupees while expected expenditure is 39 billion rupees. Out of 39 billion expenditure, 24.5 billions which is 63 percent will be spent on 89 development projects while 14.4 billion which is 37 percent will be spent on non development expenditure.

The budget estimates for Financial Year 2020-2021 are in contrast to previous year whereby total budget outlay was 20 billion with 36 percent development while 64 percent non development expenditure .Out of 49 billion rupees receipts, CDA will receive 5843.288 million rupees from Federal from PSDP and 2601.44 rupees from Federal Government as maintenance grant.

CDA will generate 4310 million rupees from its own revenues including transfer fee, building fee , water charges, property tax etc. Similarly CDA is expected to generate 24585 .28 million rupees from auction proceeds including sale of new Blue Area sale, sectoral auctions, Extension of Park Enclave etc while amount of 1568.77 million rupees is expected to be transferred from MCI. Revised estimates for Financial Year 2019-2020 have also been approved.

The approval was granted by CDA Board in its meeting held at CDA headquarters on Wednesday.CDA has managed 49 billion rupees budget despite the fact that in last four years CDA spent more than 22 billion rupees on MCI out of which around 16 billion rupees...

To continue reading

REQUEST YOUR TRIAL