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Monday July 22, 2024

CDA collects Rs52bn revenue in last fiscal year

By Our Correspondent
July 11, 2024
Chairman of the Capital Development Authority (CDA) Chaudhry Muhammad Ali Randhawa chairs a meeting on May 6, 2024. — Facebook/Capital Development Authority - CDA, Islamabad
Chairman of the Capital Development Authority (CDA) Chaudhry Muhammad Ali Randhawa chairs a meeting on May 6, 2024. — Facebook/Capital Development Authority - CDA, Islamabad

Islamabad: The Capital Development Authority (CDA) during the fiscal year 2023-24 collected a revenue to the tune of Rs52 billion, a record collection in CDA's history.

During the last two months of the financial year, the civic body collected Rs7.9 billion. However, the income generated from auction of commercial and residential plots remained main source of revenue collection. The CDA Chairman Muhammad Ali Randhawa in a statement said that the authority collected Rs52 billion against target of Rs41.8 billion set for the fiscal year 2023-24 due to dynamic approach adopted by the concerned officials.

He said that CDA had generated Rs47.2 billion for the financial year 2021-22. He was of the view that instead of selling its assets like plots, the CDA should find out alternate and regular revenue generation resources. Minister for Interior Mohsin Naqvi has also lauded the CDA management for its dedication and hard work in collection of huge revenue.