CDA to approve Rs59 billion surplus budget today

ISLAMABAD – The Capital Development Authority (CDA) is going to present its biggest ever surplus budget amounting Rs59 billion for financial year 2020-21 on Wednesday (today).

The formal approval of the budget would be given by the CDA board in its meeting, which is going to be held under the chairmanship of authority’s incumbent head Amir Ali Ahmed.

Sources informed that the CDA has earmarked a huge amount of Rs24 billion for the development projects while Rs12 billion would be spent on non-development expenditures i.e. salaries and pensions of the employees. 

While following the footsteps of federal government, the city managers have also decided to not increase the pays and pensions of its employees this year.  An amount of Rs1.5 billion is also allocated for the compensations to be paid to land affectees of the capital city while allocations for the 7th Avenue Interchange on Aabpara Signal at Kashmir Highway, additional blocks at CDA Hospital, extension of Islamabad Expressway, operation of Metro Bus Service from Peshawer Morr to New Islamabad International Airport.

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An amount of Rs4 billion is pending against CDA on account of land acquired by the authority from local landlords several years ago and the allocation of funds in this regard is an important step. 

The upcoming budget would have the surplus amount of Rs9 billion in which funds for the salaries of Metropolitan Corporation Islamabad for one quarter are also earmarked. 

The funds for the improvement of public parks in capital, repair and maintenance of tube wells and faulty water supply lines, and funds for several development projects including underpass between Sector F-7 and F-8 on Faisal Avenue, interchange on Rawal Dam chowk and others have also been allocated.

Special funds for the development of stalled sectors have also been allocated in upcoming budget including sector I-15, sector I-14, sector E-12 and sector C-15.   

Article source: https://nation.com.pk/17-Jun-2020/cda-to-approve-rs59-billion-surplus-budget-today