CDA approves development budget worth Rs49bn

ISLAMABAD: The Capital Development Authority (CDA) Board granted approval for the development budget worth Rs49 billion, for the financial year 2020-21.

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The board meeting informed that the expected expenditures will cost around Rs39 billion.

Around Rs24.5 billion out the total will be utilised to complete 89 development projects, out of which 66 are new while 23 are on-going schemes. The remaining funds will be allocated to non-development expenditures.

Under the development projects, construction of Korang Bridge and PWD Bridge will be carried out. Along with this, the feasibility report to divert water from Indus River will be drafted, and land acquisition and construction of 10th Avenue, by utilising funds allocated by the PSDP.

The construction of an interchange at 7th Avenue and Park Enclave Extension, city rehabilitation projects including low-cost housing for slums, cleaning of nullahs, public toilets, smart traffic system, housing for employees, preservation and rehabilitation of green areas, forests parks, development of garbage landfill and public transport will be funded from CDA’s own resources.

In addition, the authority has announced generating Rs4.3 billion by using their own assets, which includes property transfer fee, building regularisation fee, water charges, property tax, etc.

By auctioning plots in New Blue Area and Park Enclave Extension, the authority is expected to raise Rs2.45 billion.

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