ISLAMABAD  - Capital Development Authority (CDA) Board approved Rs 33,984.33 million budget for the financial year 2013-14 in its meeting held here on Friday. The meeting was presided over by Chairman CDA, Nadeem Hassan Asif while Member Finance, Azher Ali Choudhry, presented the budget.

The budget for the financial year 2013-14 is 20 per cent higher than the current budget. According to details, total receipts are estimated at Rs 37,389.25 million, which are 244 per cent higher than the receipts of current financial year. The development expenditure is estimated at Rs.20,905.66 million, which is 62 per cent of the total budget estimates for the year 2013-14, whereas in the current financial year only 35 per cent of budget was spent on development activities.

The non-development expenses for the fiscal year 2013-14 are estimated to be Rs.13,078.67 million, which is 38 per cent of the total budget as against 65 per cent in the fresh budget. Rupees 3,632.89 million grant from the government would include Rs.1,777.96 million on account of PSDP and Rs.1,854.93 million on account of maintenance grant for the fiscal year 2013-14.

CDA has set a target of Rs.33,756.36 million on account of revenues from its resources for the fiscal year 2013-14 including Rs.5,682.10 million from revenue accounts and Rs.27,174.52 million in terms of self-finance. As an austerity drive, a cut of 20 per cent has been imposed on non-development expenditure of the office of Chairman, CDA and Members.

On the directions of the Chairman, CDA Nadeem Hassan Asif various revenue generation measures have been adopted, including imposition and implementation of CDA bylaws on housing societies, recovery on account of transfer fee from high-rise and multi-story buildings and to rent out heavy machinery of MPO Directorate. Besides, CDA will strictly follow the austerity measures taken by the Federal Government and the authority is taking effective measures.

The CDA Board approved right-sizing of human resource, ban on purchase of furniture, rationalization of CDA vehicles use and economy in electricity and fuel consumption. The authority will save Rs.1.9 billion under the austerity measures taken during the financial year 2013-14.

A sum of Rs.1.26 billion in the budget has been reserved to meet expected raise in pay and allowance, pension and utility charges. A revolving fund for grant of house building and other advances is proposed to be created. A sum of Rs.50.00 million is proposed as seed money for creating the revolving fund that will be augmented by recovery of advances.

Estimated expenditures on PSDP schemes is Rs. 177.961 which include Rs.334.373 million for Kashmir Highway Project, Rs.780.00 million for construction of additional 104 family suits, Rs.416.908 million for construction of Chirah Dam and Rs.100.00 million for construction of additional block for Senate and National Assembly Secretariat.

In financial year 2013-14 an amount of Rs.14,646.91 million has been allocated out of CDA sources for on-going works whereas a sum of Rs.4,480.79 million has been allocated for the new developmental projects. Another sum of Rs.7.00 billion has been allocated by CDA for four priority projects during the financial year 2013-14 which are development of Sector I-15, C-15 and C-16, acquisition of land in Sector H-16 and compensation of acquired land in Mauza Sheikhpur, Jhangi Syedian, Badhana Kalan, Mauaz Noon and first phase of conversion of street lights to solar energy.