{"id":17706,"date":"2023-07-05T15:40:39","date_gmt":"2023-07-05T10:40:39","guid":{"rendered":"https:\/\/propakistani.pk\/proproperty\/?p=17706"},"modified":"2023-07-05T15:40:39","modified_gmt":"2023-07-05T10:40:39","slug":"cda-falls-short-of-revenue-targets-misses-out-on-rs-260-billion","status":"publish","type":"post","link":"https:\/\/propakistani.pk\/proproperty\/cda-falls-short-of-revenue-targets-misses-out-on-rs-260-billion\/","title":{"rendered":"CDA Falls Short of Revenue Targets, Misses Out on Rs. 260 billion"},"content":{"rendered":"<p>ISLAMABAD: The Capital Development Authority (CDA) has failed to meet its ambitious revenue targets set in the budget estimates for the previous financial year, missing out on nearly Rs. 260 billion in projected receipts.<\/p>\n<p>During a meeting chaired by Captain (retired) Noor ul Amin Mengal on Tuesday, the CDA board approved both the budget estimates for the current financial year and the revised estimates for the previous year.<\/p>\n<p>Despite setting high revenue targets in the proposed budget estimates for the last year, the authority was unable to achieve them by the end of the 2022-23 financial year.<\/p>\n<p>The projected revenue collection for the last year was Rs. 330 billion, but the actual amount secured by the CDA was only Rs. 69.037 billion as of June 2023.<\/p>\n<p>The primary source of funds for the CDA is its self-financing account, which collects funds from the sale of residential and commercial plots.<\/p>\n<p>In the last budget, it was expected that the civic authority would receive Rs. 234 billion from this source.<\/p>\n<div style=\"clear:both; margin-top:0em; margin-bottom:1em;\"><a href=\"https:\/\/propakistani.pk\/proproperty\/lhc-nullifies-cdas-notification-for-capitals-waste-dumping\/\" target=\"_blank\" rel=\"dofollow\" class=\"u7b5ee7061891a15d7ed750e7e0968d18\"><style> .u7b5ee7061891a15d7ed750e7e0968d18 { padding:0px; margin: 0; padding-top:1em!important; padding-bottom:1em!important; width:100%; display: block; font-weight:bold; background-color:#2C3E50; border:0!important; border-left:4px solid #F1C40F!important; text-decoration:none; } .u7b5ee7061891a15d7ed750e7e0968d18:active, .u7b5ee7061891a15d7ed750e7e0968d18:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; text-decoration:none; } .u7b5ee7061891a15d7ed750e7e0968d18 { transition: background-color 250ms; webkit-transition: background-color 250ms; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; } .u7b5ee7061891a15d7ed750e7e0968d18 .ctaText { font-weight:bold; color:#F1C40F; text-decoration:none; font-size: 16px; } .u7b5ee7061891a15d7ed750e7e0968d18 .postTitle { color:#eaeaea; text-decoration: underline!important; font-size: 16px; } .u7b5ee7061891a15d7ed750e7e0968d18:hover .postTitle { text-decoration: underline!important; } <\/style><div style=\"padding-left:1em; padding-right:1em;\"><span class=\"ctaText\">ALSO READ<\/span>&nbsp; <span class=\"postTitle\">LHC Nullifies CDA's Notification for Capital's Waste Dumping<\/span><\/div><\/a><\/div>\n<p>However, the CDA only managed to collect Rs. 24.86 billion from this account by the end of the year.<\/p>\n<p>Additionally, the authority failed to recover Rs. 52 billion owed to it by various government agencies, including the Water and Sanitation Agency, Rawalpindi Cantonment Board, Pakistan Television Corporation, Radio Pakistan, and Metropolitan Corporation.<\/p>\n<p>While the CDA was owed Rs. 56.18 billion, it could only recover Rs. 4.139 billion in the last financial year.<\/p>\n<p>Meanwhile, the CDA board has approved the budget estimates for the civic authority for the year 2023-24, amounting to approximately Rs. 150 billion. The budget aims to balance receipts and expenditures.<\/p>\n<div style=\"clear:both; margin-top:0em; margin-bottom:1em;\"><a href=\"https:\/\/propakistani.pk\/proproperty\/say-goodbye-to-delays-cda-launches-automated-building-approval-system\/\" target=\"_blank\" rel=\"dofollow\" class=\"u29798824456da7d5e3ac1ec9e009583e\"><style> .u29798824456da7d5e3ac1ec9e009583e { padding:0px; margin: 0; padding-top:1em!important; padding-bottom:1em!important; width:100%; display: block; font-weight:bold; background-color:#2C3E50; border:0!important; border-left:4px solid #F1C40F!important; text-decoration:none; } .u29798824456da7d5e3ac1ec9e009583e:active, .u29798824456da7d5e3ac1ec9e009583e:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; text-decoration:none; } .u29798824456da7d5e3ac1ec9e009583e { transition: background-color 250ms; webkit-transition: background-color 250ms; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; } .u29798824456da7d5e3ac1ec9e009583e .ctaText { font-weight:bold; color:#F1C40F; text-decoration:none; font-size: 16px; } .u29798824456da7d5e3ac1ec9e009583e .postTitle { color:#eaeaea; text-decoration: underline!important; font-size: 16px; } .u29798824456da7d5e3ac1ec9e009583e:hover .postTitle { text-decoration: underline!important; } <\/style><div style=\"padding-left:1em; padding-right:1em;\"><span class=\"ctaText\">ALSO READ<\/span>&nbsp; <span class=\"postTitle\">Say Goodbye to Delays: CDA Launches Automated Building Approval System<\/span><\/div><\/a><\/div>\n<p>According to the budget estimates, the CDA expects to receive Rs. 150.94 billion from different sources, while planning to spend Rs. 150.1 billion in the current fiscal year.<\/p>\n<p>The finance wing of the authority has prepared the budget estimates realistically.<\/p>\n<p>The projections indicate that the CDA will receive Rs. 78.93 billion through its self-financing account, Rs. 3.9 billion in revenue from property and water charges, Rs. 1 billion from the Metropolitan Corporation, and Rs. 52 billion as outstanding amounts from the aforementioned government entities.<\/p>\n<p>It is worth noting that there are no proposed extraordinary increases in different taxes to boost revenues, as the financial space in the civic authority has already shrunk.<\/p>\n<div style=\"clear:both; margin-top:0em; margin-bottom:1em;\"><a href=\"https:\/\/propakistani.pk\/proproperty\/real-estate-affairs-earned-cda-rs-40-million-revenue-during-july-2022\/\" target=\"_blank\" rel=\"dofollow\" class=\"u47f42e8179a186c38d269d62b2aca414\"><style> .u47f42e8179a186c38d269d62b2aca414 { padding:0px; margin: 0; padding-top:1em!important; padding-bottom:1em!important; width:100%; display: block; font-weight:bold; background-color:#2C3E50; border:0!important; border-left:4px solid #F1C40F!important; text-decoration:none; } .u47f42e8179a186c38d269d62b2aca414:active, .u47f42e8179a186c38d269d62b2aca414:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; text-decoration:none; } .u47f42e8179a186c38d269d62b2aca414 { transition: background-color 250ms; webkit-transition: background-color 250ms; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; } .u47f42e8179a186c38d269d62b2aca414 .ctaText { font-weight:bold; color:#F1C40F; text-decoration:none; font-size: 16px; } .u47f42e8179a186c38d269d62b2aca414 .postTitle { color:#eaeaea; text-decoration: underline!important; font-size: 16px; } .u47f42e8179a186c38d269d62b2aca414:hover .postTitle { text-decoration: underline!important; } <\/style><div style=\"padding-left:1em; padding-right:1em;\"><span class=\"ctaText\">ALSO READ<\/span>&nbsp; <span class=\"postTitle\">Real Estate Affairs Earned CDA Rs. 40 Million Revenue During July 2022<\/span><\/div><\/a><\/div>\n<p>The budget document also outlines the expenditure plan, with Rs. 150.09 billion allocated for this financial year.<\/p>\n<p>This includes Rs. 107 billion for development works, Rs. 16.25 billion for salaries and pensions, Rs. 8.5 billion for contingencies, and Rs. 1 billion as a loan to the Metropolitan Corporation to manage its affairs.<\/p>\n<p>In addition, the CDA board approved the brochure for an upcoming auction of restaurant plots on Capital Street, located near the Pak-China Friendship Centre in the Shakarparian Area.<\/p>\n<p>The brochure states that 20 plots measuring 500 square yards will be available for open auction.<\/p>\n<div style=\"clear:both; margin-top:0em; margin-bottom:1em;\"><a href=\"https:\/\/propakistani.pk\/proproperty\/capitals-development-projects-outlined-in-proposed-budget\/\" target=\"_blank\" rel=\"dofollow\" class=\"u42a1f18ee94ba1f58af2d397d819e62f\"><style> .u42a1f18ee94ba1f58af2d397d819e62f { padding:0px; margin: 0; padding-top:1em!important; padding-bottom:1em!important; width:100%; display: block; font-weight:bold; background-color:#2C3E50; border:0!important; border-left:4px solid #F1C40F!important; text-decoration:none; } .u42a1f18ee94ba1f58af2d397d819e62f:active, .u42a1f18ee94ba1f58af2d397d819e62f:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; text-decoration:none; } .u42a1f18ee94ba1f58af2d397d819e62f { transition: background-color 250ms; webkit-transition: background-color 250ms; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; } .u42a1f18ee94ba1f58af2d397d819e62f .ctaText { font-weight:bold; color:#F1C40F; text-decoration:none; font-size: 16px; } .u42a1f18ee94ba1f58af2d397d819e62f .postTitle { color:#eaeaea; text-decoration: underline!important; font-size: 16px; } .u42a1f18ee94ba1f58af2d397d819e62f:hover .postTitle { text-decoration: underline!important; } <\/style><div style=\"padding-left:1em; padding-right:1em;\"><span class=\"ctaText\">ALSO READ<\/span>&nbsp; <span class=\"postTitle\">Capital's Development Projects Outlined in Proposed Budget<\/span><\/div><\/a><\/div>\n<p>However, participation in the auction is limited to individuals who can provide valid proof of operating a restaurant or a related business for the past 5 years.<\/p>\n<p>While the CDA promises that Capital Street will meet international standards, the authority&#8217;s record raises concerns about the fulfillment of such claims.<\/p>\n<p>The board also approved revised layout plans for sectors D-13, E-13, and F-13 as the initial layout plans for these sectors were approved without topographic surveys, leading to planning issues.<\/p>\n<p><em>Source: The Nation<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>ISLAMABAD: The Capital Development Authority (CDA) has failed to meet its ambitious revenue targets set in the budget estimates for the previous financial year, missing out on nearly Rs. 260 billion in projected receipts. During a meeting chaired by Captain (retired) Noor ul Amin Mengal on Tuesday, the CDA board approved both the budget estimates for the current financial year and the revised estimates for the previous year. Despite setting\u2026<\/p>\n","protected":false},"author":3,"featured_media":15155,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-17706","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"img_urls":{"thumbnail":["https:\/\/propakistani.pk\/proproperty\/wp-content\/uploads\/2023\/04\/CDA-Disregards-Austerity-Measures-Grants-Millions-to-Officials.jpg",1000,560,false],"medium":["https:\/\/propakistani.pk\/proproperty\/wp-content\/uploads\/2023\/04\/CDA-Disregards-Austerity-Measures-Grants-Millions-to-Officials.jpg",1000,560,false],"full":["https:\/\/propakistani.pk\/proproperty\/wp-content\/uploads\/2023\/04\/CDA-Disregards-Austerity-Measures-Grants-Millions-to-Officials.jpg",1000,560,false]},"author_name":"Firas Qureshi","categories_name":["News"],"title_text":"CDA Falls Short of Revenue Targets, Misses Out on Rs. 260 billion","related_stories":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/posts?filter&per_page=4&categories=5&exclude=17706","_links":{"self":[{"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/posts\/17706","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/comments?post=17706"}],"version-history":[{"count":0,"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/posts\/17706\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/media\/15155"}],"wp:attachment":[{"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/media?parent=17706"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/categories?post=17706"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/tags?post=17706"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}