ISLAMABAD, June 18: The Capital Development Authority (CDA) has failed to meet the targets of property and water tax collection for the fiscal year 2001-02, a source in the revenue directorate told Dawn on Tuesday.

The CDA had fixed targets of Rs550 million for property tax and Rs155 million for water tax. The authority has to meet the targets by June 30, but so far it has collected Rs395 million in property tax and Rs120 million in water tax, facing a shortfall of Rs150 million and Rs30 million respectively.

An official said the directorate was expecting to recover Rs5 to Rs10 million each in property and water taxes by June 30.

The source said the authority had revised its target of property tax collection from Rs350 million to Rs550 million with the increase in the rate of property tax by 200 per cent last year, therefore the CDA had no justification to give any excuse of the shortfall in both water and property tax.

The source said the total water and property tax collection from residential area remained higher than the commercial units.

The official said out of Rs395 million, a sum of Rs245 million had been collected from the residential area and Rs150 million from commercial units.