CDA spends Rs25bn uplift budget during ongoing year

Islamabad:The Capital Development Authority (CDA) has spent a record development budget of Rs25 billion during the ongoing year.

A meeting held at CDA Headquarters on Friday was informed that not only record utilization of development budget was made but most of development projects were completed in the stipulated period.

CDA Chairman Muhammad Ali Randhawa on the occasion directed that all necessary measures be taken to strengthen CDA’s financially strong, self-sufficient in terms of financial resources which will enable CDA to have timely completion of all its projects related to the development, beautification, tourism initiatives, and public welfare schemes.

To achieve CDA’s financial targets for the year, he directed for the establishment of a Special Recovery Unit under the supervision of Member Finance. This unit will enhance the recovery of outstanding dues from defaulters, with full support from all directorates of CDA. Additionally, he emphasized improving the financial monitoring system for greater efficiency thus ensuring digitalization and transparency in financial management.

Randhwa further instructed CDA and DMA to conduct a comprehensive survey of all leased properties, compile a complete data, and take action against all those who are using leased properties illegally.

He mandated issuing notices as per law to sub-lessees violating terms and properties with expired leases be dealt with law, issuing notices, upon default and expiry of leases, cancel the leases thus imposing penalties for non-payment as well as violations of terms of lease.

He also tasked DG Resource Wing with proposing innovative strategies to diversify revenue streams in order to have CDA’s financial stability and sustainability in terms of financial condition. He said that CDA is fully committed to Islamabad’s progress and prosperity, and all resources will be utilized to achieve this goal by putting all efforts.

Regarding fiscal planning and management, CDA chairman emphasised meeting current budget targets while preparing actionable proposals for the next fiscal year’s budget. This aims to maintain CDA’s financial stability and ensure the timely delivery of developmental projects.