KARACHI: Mayor Wasim Akhtar is set to unveil the Karachi Metropolitan Corporation’s Rs27.135 billion budget for financial year 2017-18 on Monday (today).
The mayor will present the budget in the KMC’s council session and, according to officials in the Sindh’s largest municipality, the budget would have a deficit of over Rs300 million.
The officials counted total receipts for year 2017-18 to Rs26.835bn, including Rs18.015bn as current receipts and Rs1.795bn as capital receipts.
Funds for provincial annual development programme (ADP), district ADP and the viability gap funding (VGF) will be Rs7.024bn.
The total expenditure for the next fiscal year will be Rs27.135bn, showing a deficit of Rs300.084m, the official sources added.
On the head of expenditure, they said, Rs11.738bn would be allocated for the establishment; Rs2.075bn for contingent expenses and Rs251.685m for repair and maintenance, totalling Rs14.065bn.
Besides, Rs6.045bn will be earmarked for development projects and works, while expenditures from provincial ADP, district ADP and VGF will be Rs7.024bn.
The summary of revenue shows Rs12.782bn grants from the provinciail government; Rs7.024bn in the head of the provincial ADP, district ADP and VGF; Rs1.830bn from revenue departments (land, enforcement, estate, katchi abadis, Orangi project, and charged parking); Rs1.716bn from dues of KMC against K-Electric; Rs1.291bn from finance and accounts, Rs612.43m from transport and communication, Rs500m dues of KMC against the Karachi Port Trust, Rs500m from transfer of income from the Sindh Building Control Authority, Rs178.6m from secretariat etc; and similar revenues from culture, sports and recreation, medical and health services, municipal services, enterprise and investment promotion, parks and horticulture, and engineering, etc.
The summary of expenditure includes Rs5bn on debt servicing, pension fund and other miscellaneous expenditures; Rs4bn on medical and health services; Rs3.76bn on municipal services, Rs897m on parks and horticulture, Rs866m on revenue departments, Rs773m on secretariat, Rs674m on culture, sports and recreation, and Rs425m on transport and communication.
The budgetary allocations on major development projects from provincial ADP included Rs1.667bn on district ADP [block allocation], Rs1bn on public-private partnership projects; Rs1bn on development works at different union councils (KMC funds); Rs420m on development works at different union councils (ADP funds); Rs350m on improvement and up-gradation of Nahr-i-Khayyam; Rs350m on commercial parking plaza at Shahabuddin Market including Phase-II and Rs250m on improvement of roads, footpaths.
Published in Dawn, June 19th, 2017