CDA board meeting was held at CDA headquarters on Thursday. Amongst the agenda was presentation on CDA receipts and expenditures for 2022-23. Under section 43 of CDA ordinance this is required to be submitted in February each year.
This is first ever budget of CDA that is not based on auction receipts. Auctions have only been proposed to maintain constant supply of commercial space in the city. However, this is the first time in history of CDA that a statement of income and receipts are not reliant on auctions. Traditionally it has often been said that CDA sells plots and pays salary. However for first time the trend is being changed.
The revised estimates for 2021-22 are still closing with a surplus of nearly Rs. 68 billion. Meanwhile for 2022-23 the estimates are 308 billion. Primary source are revenue generating projects of CDA.
In 2021-22 CDA made highest expenditure on development and proposed plan is for near 80% development vs 20% on recurring. This is complete reversal from inefficient trends historically associated with budget heavily tilted towards non development.
It is expected that 2022-23 receipts will give 100 billion surplus.
Board also observed that the authority should give back to society and residents