06-17-2009, 06:09 AM
ISLAMABAD: Capital Development Authority (CDA) is likely to present its annual budget for the fiscal year 2009-10 in next week, however, official are tight-lipped over pros and cons of the budget before its official announcement. Talking to this news agency on Tuesday, CDA Member Finance Saeedur Rehman said the authority’s Board of Finance had not yet approved the budget, however, its draft has been prepared. “Before formal announcement, the budget would be sent to the Secretary Cabinet Division for review, he said. It is learnt that major chunk of the budget would be spent on development of roads, new sectors, improvement of water supply system and funding projects already under progress. The authority would sell out big plots situated in various sectors to gather funds for budgetary expenditure. Meanwhile, keeping in view the growing needs of CDA, the government has increased funding to the authority under its Public Sector Development Programme (PSDP). The civic authority would spend amount for the completion of its ongoing mega projects and on security of the important buildings. There is no proposal of increasing tax ratio in the federal capital. app
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