The Capital Development Authority (CDA) board which met on Friday approved PKR 37.971 billion budget of the cda for the financial year 2017-2018.
The total allocations for the budget include PKR 21.18 billion for the development projects, inclusive of rs11.1 billion to be spent on the priority projects. Additionally, PKR 5 billion would be spent on acquisition of land and PKR 250 million on making payments to the victims of Sector I-15. CDA Chairman Sheikh Anser Aziz chaired the meeting, which was also attended by other board members and senior officials.
The civic body also plans to open sectors c-15 and c-16 during the fiscal year 2017-18 in order to meet revenue generation target of rs32.14 billion. “the sale of residential plots in these two sectors will be one of main sources for achieving revenue targets,” a senior official of CDA said.
The civic body is also expected to raise handsome amount from auction of commercial plots in the blue area and other commercial areas. Similarly, the authority would also auction residential plots in different development sectors.
The budget also contains rs16.783 billion (44% of total budget) for non-development expenses which includes rs5.99 billion for expenditures of the municipal corporation of islamabad (mci).
The non-development expenses also include rs300 payment of taxes to the federal board of revenue (fbr), rs150 million for expected raise in salaries, allowances and pensions and rs200 million for expected utility charges.
The priority projects approved in the budget 2017-18 includes construction of bhara kahu bypass, development of sectors e-12, c-15 and i-15, construction of interchanges at sohan and khanna on islamabad expressway, dualisation of ataturk avenue (embassy road), construction of underpass on faisal avenue, construction of khayaban-e-margalla from gt road to sector d-12 and rehabilitation of ijp road.
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