CDA approves Rs40.5b budget for 2018-19

Islamabad : The Board of the Capital Development Authority (CDA) on Thursday approved Rs40,538.42 million (Rs40.5 billion) budget of CDA for the Financial Year 2018-19 in its meeting held here at CDA Headquarters. The Budget meeting was chaired by Chairman CDA, Usman Akhtar Bajwa.

On this occasion Member Finance, Dr. Fahad Haroon Aziz, Member Administration, Nadeem Akbar Malik, Member Estate, Khushal Khan, Member Planning and Design Asad Mehboob Kiyani and Member Engineering, Sajjad Zaidi were also present in the budget meeting. The total outlay of budget is estimated at Rs40,538.42 million for the Financial Year 2018-19, which is six percent more than the last Financial Year. However, the civic body did not get close revenue targets and spendings on development projects during the fiscal year ending June 30, 2018.

The authority has fixed Rs10,575.42 million would be received from government grants including PSDP budget while 23,565.22 million would be received from CDA sources. Total receipts are estimated at Rs23,565.22 million. Development budget is estimated as Rs21,743.13 million, which is 54 percent of the total budget. Non-development expenditure is estimated at Rs10,200.51 million, while provision of Rs6,397.78 million for MCI formations for pay and allowances and non-development expenditure on provisional basis as requested by MCI has also been proposed.

However, the arrangement shall be subject to the approval of Ministry of CADD/Competent Authority. The apparent deficit in the budget is due to provision kept for the MCI. It will be met provisionally from CDA sources and eventually will be made good through demand of funds / grant from the Federal Government. On this occasion the Chairman CDA said that this budget is development oriented and focus has been given to acquisition of land, development of stalled sectors where development is pending since many years, construction of land fill site, road infrastructure and other projects of public welfare.

During the budget of the financial year 2018-19 funds amounting to Rs3,000 millions have been allocated for the acquisition of land and payment of Built up Property. Rs1000 million have been allocated for the infrastructure development of Sector I-15, Rs500 million have been proposed for the construction of grade separation facility at intersection of 7th Avenue with Khayaban-e-Suharwardy and Kashmir Highway, Rs100 million for construction of land fill site, Rs100 million for construction of cultural complex at Shakarparian, Rs100 million for construction of Service Road (South) of Blue Area, sector E-11 and Rs100 million for provision of water and sewerage services in F-8/F-9, Blue Area. Similarly construction of major roads of Model Village Kuri would be also developed during the financial year 2018-19 and in this context funds amounting to Rs 100 million have been approved during the meeting. Master Plan of the Islamabad would also be reviewed during financial year 2018-19 and necessary funds amounting to Rs100 million have been allocated for the purpose.

During the financial year 2018-19 funds amounting to Rs100 million for construction of Barma Bridge at Lehtrar Road, Rs100 millions for construction of Orchard Scheme Murree Road and funds amounting to Rs100 million for refunds have been allocated for refund to the allottees of flats of sector I-15. Projects including construction of additional block at Capital Hospital, G-6, protection of CDA’s acquired land in Islamabad and providing / fixing of boundary pillars for demarcation of CDA / ICT boundary would be completed during the financial year 2018-19 and funds amounting to Rs50 million, Rs25 million and Rs10 million have been allocated for the these projects respectively.

During the financial year 2018-19, from the PSDP grant amounting to Rs7000 million have been received for Signal Free Islamabad Expressway Corridor.