Post Reply 
 
Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
CDA proposes increase in property tax & water tariff
03-20-2012, 12:31 PM
Post: #1
CDA proposes increase in property tax & water tariff
CDA proposes increase in property tax & water tariff

Islamabad :The federal cabinet is likely to take up a proposal from the Capital Development Authority (CDA) for increase in property tax and water charges with focus to target commercial consumers and owners of big houses for the fiscal year 2012-2013.

The CDA sources told ‘The News’ that the civic body had sent a proposal to the federal cabinet seeking 100% increase in property tax for commercial buildings and over 20% raise in the same for residential buildings.However, there would be exemption in raise for owners of plots up to five marlas. The proposal also seeks 100% enhancement in water charges for all types of consumers in the federal capital.

It has been learnt that a summary in this connection was sent to the Cabinet Division in December and the cabinet secretary would give a briefing to the federal cabinet at the next meeting.

The property tax and water charges which were lowest in Islamabad as compared to rest of the country were raised 10 years back last time and since then there has been no revision in tariffs.Justifying proposal of increase in water charges, a CDA official said that the cost of water supply had multiplied many times in the last10 years due to significant raise in electricity tariff during this period.

The revenue generation from property tax and water charges would cross the figure of Rs1.2 billion per year if the CDA’s proposal is accepted by the federal Cabinet.



The authority at present is well on the track to achieve target of revenue collection of Rs698 million for the ongoing year as so far it had collected Rs500 million in this head and expecting to receive another Rs160 million by the end of fiscal year 2011-2012. The property tax collected so far includes Rs170 million from commercial property and rest of the amount from residential and government buildings.



Similarly, the civic body had also collected Rs116 million from water charges and this amount would also be doubled by end of June.



The management of Capital Development Authority is already facing serious financial crunch and is finding ways to enhance its revenues to meet its day-to-day expenses and carry out development projects.



“Apart from making efforts to increase revenue, we have also received directives to further curtail non-development expenditures,” an official of the finance wing.



The authority’s financial problems increased in the last four years due to over 2,000 recruitments and upgradation of hundreds of employees, creation of new posts without generating more income resources.
Visit this user's website Find all posts by this user
Quote this message in a reply
Post Reply 


Possibly Related Threads...
Thread: Author Replies: Views: Last Post
  Increase in Profit Rates for National Savings Schemes Announced LRE-Azan 0 223 11-02-2023 06:34 PM
Last Post: LRE-Azan
  CDA Proposes New Dam Project to Meet Islamabad Water Demand LRE-Azan 0 275 10-13-2023 07:55 PM
Last Post: LRE-Azan
  Pakistan’s Cement Industry Reports Slight Increase LRE-Azan 0 640 02-08-2023 06:44 PM
Last Post: LRE-Azan
  GHQ proposes strategic Gwadar oil refinery Chinese team arrive in Pakistan LRE-Azan 0 687 01-21-2023 12:17 PM
Last Post: LRE-Azan
  The Dollar Price Increase In The Open Market Also Gold Price Increase Per Tola LRE-Azan 0 1,307 11-27-2021 02:28 PM
Last Post: LRE-Azan
  Rawalpindi: Huge Increase in Residential Property Commercialization Fees LRE-Azan 0 1,268 11-22-2021 08:17 PM
Last Post: LRE-Azan
  LDA proposes to take over functions of CGDL and TMAs Salman 0 3,484 05-28-2013 11:35 AM
Last Post: Salman
  CDA proposes City Centre for Islamabad Salman 0 4,554 09-27-2012 02:37 PM
Last Post: Salman
  Financial plan 2012-13: RDA proposes over Rs1b budget for development Salman 0 5,394 07-07-2012 11:52 AM
Last Post: Salman
  CDA proposes Rs26b budget for next fiscal year Salman 0 3,449 05-21-2012 01:12 PM
Last Post: Salman
  CDA committed to increase green cover in capital) Salman 0 4,276 04-30-2012 12:34 PM
Last Post: Salman
  Rapid transit: TEPA proposes extension in elevated route Salman 0 7,062 04-21-2012 12:34 PM
Last Post: Salman
  CDA committed to increase green cover in capital Salman 0 4,177 04-14-2012 02:36 PM
Last Post: Salman
  Indo-Pak ministerial talks to focus on removal of non-tariff walls Salman 0 3,806 04-11-2012 12:28 PM
Last Post: Salman
  Islamabists resent 3-time increase in plots transfer Salman 0 4,379 03-10-2012 12:29 PM
Last Post: Salman
  17% tax revenue increase achieved in last six months Salman 0 4,052 01-14-2012 02:52 PM
Last Post: Salman
  Pakistan exports increase by 7.6% during Jul-Nov 2011 Salman 0 4,052 12-21-2011 01:21 PM
Last Post: Salman
  CDA claims of potable water, dirty as water supplied Salman 0 4,657 11-28-2011 11:04 AM
Last Post: Salman
  Remittances increase phenomenally during 1st quarter of current fiscal Lahore_Real_Estate 0 3,647 10-11-2011 11:35 AM
Last Post: Lahore_Real_Estate
  Electricity tariff increased by Re 1.04 per unit Lahore_Real_Estate 0 6,636 08-03-2011 11:55 AM
Last Post: Lahore_Real_Estate

Forum Jump:


User(s) browsing this thread: 2 Guest(s)