ISLAMABAD: The Capital Development Authority (CDA) Thursday unveiled budget of Rs 28,320.72 million for upcoming fiscal year 2012-13, 18 percent higher than the previous financial year's budget.
The main focus of the budget is to make the civic body self sufficient by generating own resources, Chairman Capital Development Authority (CDA) Farkhand Iqbal said while addressing a crowded media conference.
He said Rs 16,025.06 million has also been allocated for the development projects which is 13 percent higher than the last year's budget estimates. Eleven new development projects have been earmarked during the year 2012-13 and an approximate amount of Rs 2,245 million is reserved under self financing scheme for the projects.
Among the mega development projects are being planned including development of two residential sectors of C-15 and C-16.The civic body has started working on project's layout hoping that physical work would be launched by end of August this year.
During the next financial year the construction of 11th Avenue would be started, while an underpass and interchange would also be constructed at Peshawar Morr if the civic body is managed to save sufficient amount.
Margalla avenue would be completed in eight months instead of scheduled two years.
The construction of Kashmir highway would be completed as per schedule, he said.
The 7th avenue would be expanded to Murree road from Kashmir Highway crossing during the next financial year.
Two pedestrian underpass would be constructed in Blue area, he said.
No new tax has been levied on the people. The rates of existing taxes have not been increased.
A sum of Rs 12,295.65 million has been allocated for non-development expenditures.
It is 26 percent higher than the previous year's budget.
Rs 5140 million has been allocated for paying 20 percent enhanced salaries to the staff, he said.
A lump sum amount of Rs 781.430 million has been allocated for expected raise in utility charges including electricity, suigas, telephone, etc.
The Authority will generate Rs 21423.90 million through its own resources, mainly by selling plots across the federal capital.
Total receipts of the civic body would be Rs 29,561.23 million during the upcoming fiscal year which is 23 percent higher than the receipts of previous financial year (2011-12).
The CDA will also generate Rs 4648.41 million (Rs 4.64 billion) through revenue department that includes property tax, water charges, toll tax, municipal receipts, interest on deposits, sanitary receipts and other municipal charges.
The federal government would provide Rs 1690.63 million (Rs 1.69 billion) to the Authority under Public Sector Development Programme (PSDP) and Rs1798.29 million (Rs1.8 billion) under maintenance grant.
The maintenance grant would be utilised against the maintenance of government buildings including Presidency and Prime Minister House, Pak Secretariat, Parliament House, Parliament Lodges and other buildings.
Allocation for non-development expenditure for fiscal year 2012-13 will be Rs 12 billion as compared to Rs 9.76 billion for fiscal year 2011-12.
The reason stated for Rs 2.24 billion more allocations under the head of non-development expenditures is recent increase in salaries and pension announced by the federal government and overall price hike and increase in POL prices.
He said in the next fiscal year, work on much-delayed project for conduction of water pipeline from Ghazi Barotha is set for launch as an agreement for its execution through soft loan worth $1.2 billion has been signed with a Chinese firm.
As many as 134 million gallon water would be fetched from Tarbela daily ending the water scarcity issue once for all.
As many as 6000 flats would be constructed in I-15 for lower middle class, he said.