KARACHI, July 3: A budget of over Rs1.357 billion for the year 2006-07 for the Clifton Cantonment Board was presented on Monday which shows a surplus of around Rs136 million and proposes no new tax.

The budget was presented by CBC chief executive officer Khawaja Iftikhar at a meeting of the board which was presided over by Brig Maqsood Hussain. The biggest chunk, more than Rs580 million, of the total funds has been allocated to contingencies.

As against the expected earnings of Rs1.357 billion, the spending has been estimated at Rs1.221 billion. More than Rs144 million has been kept for the annual development projects.

A parking plaza will be constructed on self-financing basis near the Lasmo Park whereas land for a recycling station will be purchased. The Clifton beach will be developed and safety arrangements will be made. A trauma centre on main Korangi Road, a health centre at Pak Jamhooria Colony and a maternity home in Phase-II are included in the development programme.

Besides, Chaudhry Khaliq-uz-Zaman Road will be improved from the Institute of Chartered Accountants up to Khayaban-i-Hafiz, and 14 water purification stations will be established. Funds for improvement of roads, sewerage system, streetlights and various DHA parks have also been allocated.

The CBC will spend over Rs140 million on its establishment, Rs580 million on contingencies, Rs70 million on maintenance and repairs and more than Rs280 million on the going schemes.

In the previous fiscal, the CBC had earned more than Rs1.296 billion about 4.7 per cent less than the amount shown under this head in the new budget. It spent Rs1.285 billion during the year ending on June 30, 2006.