Unprecedented Growth- CDA Approves Rs150.9B Budget for Development
The Capital Development Authority (CDA) has recently announced an impressive budget of Rs150.9 billion for the fiscal year 2023-24. This substantial allocation reflects the CDA’s commitment to focus on development-oriented initiatives. The CDA board approved the budget during a meeting held at its headquarters in Islamabad. With Rs107.463 billion earmarked for development and work activities, the CDA aims to undertake various projects to benefit the capital city and its residents. Let’s delve deeper into the key highlights of this budget and the exciting developments it entails.
Allocation for Development and Works Activities
The approved budget allocates a significant portion, Rs107.463 billion, for development and work activities. This substantial investment underscores the CDA’s dedication to improving infrastructure and enhancing the quality of life for the people of Islamabad. These funds will be utilized to undertake various projects to make the city more livable and sustainable.
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The budget breakdown reveals a few major expenses. Rs16.25 billion has been set aside for salaries and pensions, ensuring that CDA employees are adequately compensated for their services. Additionally, Rs8.5 billion has been allocated for the CDA contingency fund, which serves as a reserve for unforeseen circumstances. Furthermore, a loan of Rs1 billion has been granted to the Municipal Corporation of Islamabad (MCI), emphasizing the CDA’s commitment to supporting local government bodies.
The budget projects a surplus of Rs852.46 million, highlighting the CDA’s efficient financial management and revenue generation strategies. The projected surplus is based on the expectation that the CDA will receive budget receipts amounting to Rs150.948 billion during the fiscal year. This surplus can be utilized for further development initiatives or to address any additional financial requirements.
Development of the World’s Largest Bird Aviary
During the meeting, the CDA chairman, Noorul Amin Mengal, announced the development of the world’s largest bird aviary in F-9 Park. Spanning an impressive 10-acre area, this aviary will serve as a habitat for various bird species collected worldwide. With unique specifications and a focus on creating a natural bird environment, this project aims to enhance Islamabad’s appeal as a nature-friendly city.
Revised Layout Plans and Provision for Affectees
The planning wing of the CDA presented revised layout plans for sectors D-13, E-13, and F-13 during the board meeting. These plans, which incorporate the latest facilities and amenities, were warmly appreciated by the CDA board. Furthermore, the revised layout includes provisions for plots reserved for the affectees, demonstrating the CDA’s commitment to ensuring fairness and addressing the needs of individuals affected by development projects.
Revenue Generation and Self-Financing
Compared to the previous year’s revised budget of Rs69 billion, this year’s budget shows a significant increase. The CDA aims to generate Rs78 billion through self-financing, highlighting its commitment to exploring alternative revenue streams. An estimated Rs52 billion is also expected to be recovered from different departments, including the Rawalpindi Cantonment Board, Iesco, Wasa, and others. These revenue sources will contribute to successfully implementing the proposed development projects.
The CDA’s approval of the record-breaking Rs150.9 billion budget for the fiscal year 2023-24 demonstrates its strong commitment to the development and improvement of Islamabad. With a substantial allocation for development projects, including the world’s largest bird aviary, the CDA aims to enhance the city’s infrastructure and provide its residents with a better quality of life.