ISLAMABAD, July 8: Capital Development Authority (CDA) has decided to hire a private consultancy firm to streamline its financial system at a cost of Rs5 million, a source in the CDA told Dawn.

The project of streamlining its financial system with the help of a consultancy firm will not prove very fruitful, since the information required by the firm will have to come from the CDA itself, and the CDA officials will not want to reveal the facts to outsiders, source said.

The authority has decided to introduce ‘double entry system.’ Under this system a new account would be opened against every existing CDA account. “For example if a cheque of Rs100 was sent to one account, the amount would be debited from one account and credited in the other and then the cash would be handed over to the department”, source said.

A senior CDA official had written a book on double entry system and had received pride of performance award for writing the book by a former CDA chairman.