CDA approves Rs 49 bln budget for FY 2020-21.

ISLAMABAD -- The Capital Development Authority (CDA) on Wednesday approved Rs49 billion budget for the Financial Year (FY) 2020-21, nearly doubling the allocations for development of the city.

The budget, having surplus Rs 10 billion for the fiscal year 2020-21, was approved by the CDA's board in a meeting held here, said a press release.

As per approved budget estimates, expected receipts are Rs 49 billion rupees, whereas expected expenditure is Rs 39 billion rupees.

Out of total expected expenditure, the civic agency will spend Rs 24.5 billion to materialize 89 development projects.

In the FY 2020-21, the development budget has nearly been doubled which constitutes 63 percent of the total, whereas it was only 36 percent during the corresponding year when the total outlay was Rs 20 billion with 64 per cent allocation for non-development expenditures.

The CDA will spend an amount of Rs 14.4 billion on non-development initiatives in the next fiscal year, constituting 37 percent of the total outlay.

Out of 49 billion rupees receipts, CDA will receive Rs5843.288 million from the Public Sector Development Programme and Rs2601.44 from the Federal Government as maintenance grant.

The CDA will generate Rs 4310 million from its own revenues including transfer fee, building fee , water charges, property tax and others.

Similarly, the CDA is expected to generate Rs 24585.28 million from auction proceeds including sale of new Blue Area, sectoral auctions, extension of Park Enclave and others.

An amount of Rs1568.77 million expected to be transferred from the Metropolitan Corporation Islamabad (MCI).

As per approved budget estimates for year 2020-21, the civic agency will spend money on 89 development projects in Islamabad which is the largest ever...