LDA approves Rs 14.3b deficit budget

[Lahore_Real_Estate]

Wednesday, April 07, 2010
By Our Correspondent

LAHORE

THE Lahore Development Authority (LDA) has approved its deficit budget for the year 2009-10 as its revenue stands at Rs 14.370 billion against the expenditure of Rs 14.810 billion showing a deficit of Rs 440 million.

The deficit budget was approved in the governing body meeting of the authority here on Tuesday.

It is pertinent to mention here that the meeting was convened months later than its schedule. However, it decided that in future, the general body meeting would be convened every month to discuss problems and progress of the authority.

The officials said the LDAís deficit budget also included Rs 8.710 billion of the development projects. They said the available resources of the Urban Development Wing would be Rs 8.450 billion against the expenditures of Rs 7.500 billion out of which Rs 5.280 billion were allocated for development projects.

Available resources for Wasa during the new financial year 2009-2010, would be Rs 4.390 billion against the total expenditure of Rs 5.910 billion, the officials said, adding that the deficit being faced by the LDA in its budget was actually of Wasa.

They said the available resources during the year 2009-2010 to Tepa would be Rs 1.520 billion against the expenditures of Rs 1.390 billion out of which Rs 1.290 billion would be spent on the development projects. New schemes of Tepa included the remodeling of Canal Bank Road from Thokar Niaz Beig to Dharmapura and construction of the southern bypass from ht eCollege Road to Ferozpur Road. The officials said Rs 150 millions were allocated for the ongoing schemes.

The schemes of the Urban Development Wing included the development of LDA Avenue 1 (Rs 490.75 million), development schemes in other housing societies (Rs 210 million), construction of new buildings (Rs 1.70 billion), construction of two parking plazas at Liberty Market (Rs 700 million), construction of LDA offices (Rs 140 million), priority projects (Rs 250 million), remodeling of MM Alam Road (Rs 100 million), roads network in Lahore (Rs 810 million), provision of basic facilities to Katchi Abadis (Rs 20.65 million) and construction of roads inside other LDA schemes (Rs 640 million).

The development schemes of Wasa included the projects of sewerage and water supply (Rs 2.140 billion), installation of 17 new tube-wells (Rs 20 million), construction of drainage, sewerage and water supply in various city areas (Rs 360 million), construction of sewerage from Shadipura to Salamatpura (Rs 300 million), projects regarding flushing out rain water (Rs 400 million), construction of drain on the MM Alam Road (Rs 180 million) and laying of sewerage in other areas (Rs 110 million).

The meeting was chaired by Lahore Administrator Sajjad Bhutta while LDA DG Omar Rasool, Wasa MD, Tepa MD and other senior officials participated.