ISLAMABAD: The Capital Development Authority (CDA) on Monday approved Rs37.7 billion budget for fiscal year 2015-16, which is 18 per cent less than the outgoing year’s budget.

The civic mangers approved the budget in a meeting held here at CDA headquarters with Chairman CDA Maroof Afzal in the chair. The meeting was attended by all five members of the CDA board. According to a spokesman for the CDA, the total outlay for the next fiscal is Rs37, 695.87 million. He said an amount of Rs210,91.27 million had been allocated for development, which was 56 per cent of the total budget while Rs16,604.05 million had been earmarked for non-development expenditure.

The main receipts for the budget 2015-16 include Rs. 35.07 billion from the CDA sources and Rs. 2.062 billion from the federal government grant.

The CDA sources include Rs20.66 billion from self financing accounts and Rs14.407 billion from revenue accounts.

The CDA chairman claimed that budget was development oriented and development momentum initiated during the on going fiscal year would continue.

He said Rs400 million had been allocated for development of three new Sectors: C-13, C-14 and C-15.

An amount of Rs200 million has been set aside for payment of taxes to the FBR.

The spokesman said Rs1,200 million had been proposed for ‘land acquisition’, Rs8,000million were expected from opening up of new sectors and an amount of Rs360.00 million (Rs30 million per month) had been reserved for debt servicing for PK-24 (Khanpur Dam Project). He said Rs360 million had been earmarked for debt servicing for PK-25 (Simly Dam) and Rs10,462.70 million for priority development projects.

Published in Dawn, June 30th, 2015

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