Karachi: Rs1.8bn break-even KDA budget approved

[Naveed Yaseen]

The governing body of Karachi Development Authority (KDA) approved Rs1.805 billion break-even budget of the authority for the fiscal 1998-99 in its meeting held on Tuesday.

The body also approved revised expenditures for the year 1997-98 which had been slashed from the estimated Rs1.746 billion to Rs1.395 billion due to fiscal constraints the KDA had been facing during the last year. The budget proposals were presented by Member Finance, KDA, Naila Wajid while member governing body, MNA Babar Ghouri presided over the meeting in the absence of its chairman Mir Hussain Ali.

The main sources of income will be auction and sale of plots, construction and sale of flats and bungalows, approval of lay-out plans and issuance of NOCs to builders and licenses to builders, architects and planners. Sale/auction of plots and flats etc would fetch the KDA Rs1058.376 million while an income of Rs205.876 million is expected from federal, provincial and local governments. The authority will spend major share of its income on developmental works. An amount of Rs1058.376 million will be spent on development of plots and construction of housing units in different schemes including projects in Surjani Town, Gulistan-e-Jauhar, Korangi Civic Centre, North Nazimabad and Gulshan-e-Iqbal.

In the budget Rs252.91 million have been allocated for the ongoing projects of Nipa Flyover, University Road Overhead Bridge, extension of Lyari bridge on Rashid Minhas Road, Chand Bibi Bridge on Korangi Road, embankments on Malir River. The authority will spend Rs6.438 million on sewerage schemes and Rs23.668 million on projects of Traffic Engineering Bureau the Karachi Engineering Bureau. The Karachi Building Control Authority will spend Rs 134.24 million while a sum of Rs 27.553 million will be spent on preparation of new master plan of the city.

— News selected by Saeed Mohiuddin, Reference Library filed by our correspondent, The News

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