Chairman Capital Development Authority (CDA), Imtiaz Inayat Elahi, Thursday announced Rs 23.96 billion budget for 2011-12. "This year no mega project would be launched as the authority would concentrate on renovation, beautification and improvement of I and G sectors and markets and also on the maintenance of beautiful character of the city", he said while addressing a news conference here at Convention Centre. CDA Board Members and other officials were present on the occasion.
Giving details of the budget, he said that CDA would get Rs 13.25 billion from the receipts under self-financing, Rs 4.06 billion from receipts under revenue, Rs 3 billion from issuance of municipal bonds, Rs 1.59 billion from maintenance grant allocation while Rs 2.08 billion from Public Sector Development Programme.
Elaborating the self-financing amount, he said Rs 1 billion would be collected from sale of plot at Diplomatic Enclave, Rs 2 billion from disposal of plots through pre-qualification, Rs 2 billion through auction of plots in residential and commercial areas, Rs 3 billion from sale of commercial and residential plots in E-11, Rs 1 billion from balance receipt of previous auction and Rs 250 million from Project Management Office. CDA would collect Rs 4.06 billion from property tax, water charges, toll tax, environmental horticulture receipts, municipal receipts, sanitation receipts and other allied receipts.
This year Engineering wing would get Rs 6.26 billion while Finance Wing would get only Rs 200 million, he said, adding it was the responsibility of Engineering Wing to materialise the on-going and upcoming projects.
He further said that CDA would hire the services of lawyers to resolve 300 cases of land dispute. He said that a sum of Rs 3-4 billion has been trapped due to land dispute. He said that non-development expenditure has been increased from Rs 2264.24 million to 5048.78 million during the last five years, justifying the increase owing to raise in salaries of the employees. He said that attention was being paid to the betterment and improvement of environment, adding the environment friendly projects would be launched in future.
Imtiaz Inayat Elahi said that it was the unique achievement of CDA that it launched development projects from its own resources. He said that authority is going to launch a model sector with the name Park Enclave after twenty years in July. He added that concept of project has been emulated from Malaysia and Dubai. He was optimistic that Park Enclave project would fetch Rs 4 billion in the first year.
In order to mitigate the sufferings of commuters of the federal capital, he disclosed that Prime Minister's CDA Rapid Bus Transit project would be launched in the running month with a cost of Rs 200 million. He said that project would be environment-friendly and all buses would use CNG as fuel. He said paper work to launch the project has been completed.
Responding a query regarding stalled sectors of CDA, he said it was a serious issue as there are almost Rs 30 billion liabilities, adding the CDA was not in a position to pay such a huge amount. He said the Authority has decided to resolve the issue through land sharing and plots would be given to affected people in the developed sectors.
About increase in property and other taxes, he said CDA has not revised taxes since 2000. He said that small and lower income group would not be affected by the increase in tax and revision would affect only the upper class. To another question, he acceded that CDA experience to run the Gyms remained unsuccessful, adding these Gyms would be privatised soon.
About the financial crunch in CDA, he dispelled the impression that CDA was cash-strapped, saying no project was stopped due to financial crunch but delay in projects was owing to technical reasons. He said that Zero Point Interchange (ZPI) project would be inaugurated in the first week of the same month.
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