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June 18, 2020

CDA budget with outlay of Rs49 billion unveiled

Islamabad

June 18, 2020

Islamabad : The Capital Development Authority (CDA) on Wednesday approved the landmark development focused budget estimates having a total outlay of Rs49 billion with a surplus of Rs10 billion for the financial year 2020-2021.

The approval of the budget was granted by CDA Board in its meeting held at CDA. As per approved budget estimates, expected receipts are Rs49 billion while the expected expenditure is Rs39 billion. Out of Rs39 billion expenditure, Rs24.5 billion which is around 63 per cent of the budget would be spent on 89 development projects while Rs14.4 billion, which is 37 per cent will be spent on non-development expenditure.

The budget estimates for the financial year 2020-2021 are in contrast to the previous year whereby the total budget outlay was Rs20 billion.

Out of Rs49 billion receipts, the CDA is expected to receive Rs5,843.288 million from the Government’s Public Sector Development Programme (PSDP) and Rs2,601.44 from the Federal Government as a maintenance grant.

The CDA has also estimated to generate Rs4310 million from its own revenues including the transfer fee, building fee, water charges, property tax etc.

Similarly, CDA is expected to generate Rs24,585.28 million from auction proceeds including the sale of new Blue Area sale, sectoral auctions, Extension of Park Enclave etc. while the amount of Rs1,568.77 million is expected to be transferred from MCI.

The revised estimates for the financial year 2019-2020 have also been approved.

The CDA spokesman said the authority managed to announce Rs49 billion budget despite the fact that in last four years the authority spent more than Rs22 billion on MCI out of which around 16 billion rupees are still outstanding.

As per approved budget estimates for the year 2020-2021, the Development authority will spend money on 89 development projects in Islamabad, the largest ever number for a single year of development projects in the capital city.

Out of these 89 development projects, 66 development projects are new while 23 are the ongoing development projects. The main development projects for the next financial year include Construction of Korang Bridge, PWD Bridge, feasibility study for water supply scheme from Indus River and land acquisition and construction of 10th Avenue from Public Sector Development Programme (PSDP).

From its own resources CDA will fund the projects which mainly include City Rehabilitation Projects which includes low cost housing for slums, cleaning of nullahs, public toilets, Smart traffic system, Housing for BS1-16 employees, preservation of green areas, forests parks, land fill and public transport. Similarly Projects like the construction of Interchange at 7th Avenue and Park Enclave Extension will also be funded from CDA s own resources. Non-Development expenditure will include Rs2,601.44 million as maintenance grant, Rs11,877 million as employees related and operational expenses and Rs2,112.40 million as MCI expenditure for three months.