The KMC Council approved the Rs27,160.468 million KMC Budget for financial year 2018-19 during its meeting held on Tuesday which was presented by the Mayor Wasim Akhtar in the Council Hall of KMC Building. Metropolitan Commissioner Dr Syed Saif ur Rehman and Financial Advisor Dr Asghar Abbas Sheikh were also present on this occasion.
Total receipts in the budget for year 2018-19 are Rs26,170.097 million, including Rs19,218.475million as current receipts and Rs1,892.400million as capital receipts. Funds for provincial annual development program (ADP) & District ADP will be Rs 6,059.222 million.
The total expenditure for the next fiscal year will be Rs27,160.468 million out of which Rs13,312.286million allocated for the establishment; Rs2,110.210million for contingent expenses and Rs217.165m for repair and maintenance. Besides, Rs 5,461.585 million has been earmarked for development projects and works, while expenditures from provincial ADP and District ADP will be Rs6,059.222million.
Giving details of the budget, Mayor Karachi said no new tax is levied and focus was mainly on making existing revenue resources better and to make this budget realistic and balanced. He said despite financial constraints, we are presenting Rs11.5billion development budget for next year which include development schemes suggested by the elected representatives of the council.