ISLAMABAD: The Capital Development Authority (CDA) has finalized its budget for the upcoming financial year. The budget, amounting to a proposed 150 billion rupees, will be presented during the upcoming CDA board meeting scheduled for next week. Following the board’s approval, the budget will then seek final endorsement from the federal government.
Out of the proposed budget, 25 billion rupees will be allocated for non-development expenses, such as employee salaries, petrol, and utility bills. The remaining 125 billion rupees will be designated for development projects. Currently, the annual salary bill for CDA employees stands at 1.5 billion rupees, which is expected to increase to 2.5 billion rupees due to recent adjustments.
In a groundbreaking move, CDA aims to allocate a portion of the budget, approximately 10 billion rupees, towards development initiatives in rural areas, in addition to the ongoing sector-based development projects. The selected sectors for development include I-12, I-15, C-14, C-15, and E-12. Notable mega projects that will receive funding include the expansion of Eleventh Avenue, Park Road, Islamabad Expressway, Bara Kaho Flyover, and the extension of Jinnah Avenue in front of F8 and F9.
Furthermore, CDA plans to introduce a residency scheme catering specifically to overseas Pakistanis, widen Lahtra Road, construct new parking plazas, establish Sikandar Azam Road, build a flyover at Shaheen Chowk on Ninth Avenue to alleviate traffic congestion, and create an underpass at Sirena Chowk. Although CDA has initiated development works in rural areas and commenced the approval process for private housing scheme maps, the imposition of property tax is yet to be decided upon.
CDA’s budget strategy continues to rely on plot sales to cover expenses, as a sustainable revenue system has not yet been implemented.
(Islamabad51-Newsdesk)
