04-06-2012, 12:30 PM
KDA yet to recover decades old dues
KARACHI – The Karachi Development Authority has failed to recover millions of rupees on account of the property auctioned off 20 years ago, it has been learnt.
The KDA’s Recovery Department had, in different parts of the metropolis, auctioned off around 11,000 commercial and residential plots from 1980 to 1999 on the condition of monthly/yearly instalments. Only 30 per cent of the total dues have been recovered since.
Sources in the KDA said that non-payment of the remaining instalments might cause loses of millions of rupees to the authority that had been incurring huge losses almost every year.
On the other hand, the KDA is going to announce a new relief scheme for the defaulters. An official said the new scheme would push the authority into a financial disaster. “If the recovery department takes strict action against the defaulters, the KDA could easily recover all the dues,” he asserted.
KDA Recovery Director Mukaram Sultan Bukhari said the new scheme would provide benefits to the citizens.
KARACHI – The Karachi Development Authority has failed to recover millions of rupees on account of the property auctioned off 20 years ago, it has been learnt.
The KDA’s Recovery Department had, in different parts of the metropolis, auctioned off around 11,000 commercial and residential plots from 1980 to 1999 on the condition of monthly/yearly instalments. Only 30 per cent of the total dues have been recovered since.
Sources in the KDA said that non-payment of the remaining instalments might cause loses of millions of rupees to the authority that had been incurring huge losses almost every year.
On the other hand, the KDA is going to announce a new relief scheme for the defaulters. An official said the new scheme would push the authority into a financial disaster. “If the recovery department takes strict action against the defaulters, the KDA could easily recover all the dues,” he asserted.
KDA Recovery Director Mukaram Sultan Bukhari said the new scheme would provide benefits to the citizens.