LAHORF, June 21: Ravi Town Council on Saturday unanimously approved Rs177.133 million budget for the next financial year.

Presenting the budget in the council session held with Naib Nazim Muhammad Abid Mustafa in the chair, Town Nazim Yousaf Ahad Malik said that Rs101.7 million had been allocated for development, Rs38.4 million for payment of salaries, Rs7.268 million for compulsory expenditure, and Rs8.3 million for miscellaneous expenditure.

He said the town expenditure was proposed to be doubled during the next financial year. The development expenditure would be increased by 65 per cent, salary budget by 25 per cent and compulsory expenditure by five per cent, he said. He said the annual income of town municipal administration for the next financial year was estimated at 157.88 million.

The TMA expects to collect Rs40 million in the form of taxes, while it will also receive Rs57 million as Punjab government grant, besides Rs20 million as share in property tax and Rs10 million fee for approval of site plan for construction of buildings.

The TMA shows Rs39.2 million as savings from previous years and Rs19.253 million from 2007-08 in addition to Rs20 million recovered from the former town nazim by the Anti-Corruption Establishment.