The Capital Development Authority (CDA) has demanded over Rs 3.5 billion from the government to undertake mega projects in the Federal Capital in 2004-05, official sources told Business Recorder here on Monday.
The finance wing of the civic body had dispatched a demand to the Planning and Finance Division for seeking funds for development schemes in Islamabad, sources added. However, the authority's sources said that Finance Division had agreed in principle to provide Rs 2.0 billion in this regard.
The CDA development budget for the year 2003-05 was Rs 502 million. The authority has disbursed Rs 452.7774 million so far for various uplift schemes.
As there are even less than two months left in completion of the current financial year and CDA is unable to initiate several mega projects due to paucity of sufficient funds.
The federal government has earlier approved the construction of Zeropoint interchange with an estimated cost of Rs 500 million to reduce the traffic jam but such a huge project is in doldrums due to shortage of funds.
The Interior Minister, Syed Faisal Saleh Hayat also sought Rs 100 million from the government for mega development projects to be undertaken during the current fiscal year.
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