Capital saw economic activity worth Rs100bn in 2020: CDA

Published January 3, 2021
Data released by Capital Development Authority (CDA) showed that an economic activity worth around Rs100 billion was generated in the federal capital. — APP/File
Data released by Capital Development Authority (CDA) showed that an economic activity worth around Rs100 billion was generated in the federal capital. — APP/File

ISLAMABAD: As the government has been focusing the construction sector, data released by Capital Development Authority (CDA) showed that an economic activity worth around Rs100 billion was generated in the federal capital.

Contrary to the calendar year 2019 when maps of around 350 buildings were approved, the Building Control Section (BCS) of the civic agency in 2020 approved maps of 2,315 buildings on 22 million square feet and collected Rs1.92 billion in terms of fee.

CDA spokesperson Mohsin Sherazi told Dawn that in the past the civic agency hardly took interest in approving private housing societies due to which not only illegal structures were raised but economic activities could not be generated as investors hesitated from pumping funds in illegal projects.

“We divided the BCS into three directorates, including one for Zone-I and housing societies. We earned Rs1.92 billion only by approving the building plans. Overall area on which the buildings have been approved is 22 million square feet. If we suppose that Rs4,000 were spent on construction of per square foot, an economic activity of around Rs100 billion was generated in the capital,” he said.

Mr Sherazi said a policy has been formulated at the federal level to encourage and facilitate the construction industry, so the civic agency will earn more in coming years.

According to a statement, the CDA collected Rs1.92 billion by approving maps of 2,315 buildings in 2020.

“These maps were of 2,075 residential and 138 commercial buildings. Last year, completion certificates of 359 buildings were issued by the authority. Moreover, revenue of Rs1.92 billion has been collected in respect of building approval fees,” it stated.

Published in Dawn, January 3rd, 2021

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