CDA to receive historic budget of Rs156bn


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ISLAMABAD: The Capital Development Authority (CDA), on Wednesday, was awarded a record budget of Rs156 billion for the fiscal year 2021-22 for the development and non-development expenses. 

The budget was approved at the CDA headquarters by Chairman, Amer Ali Ahmed. It was presented by Member Finance, Shakeel Jazeb.

As per reports and budgetary documents, the focus will be on completion of the current projects rather than planning  of new uplift schemes for the upcoming financial year. 

According to details, various development projects have been approved at the cost of Rs40 billion including Rs60 million for Rawal Chowk Signal Free Corridor, Rs2 billion for construction of houses for low income people in Farash Town and Rs10 million for Margalla Avenue, PWD underpass,, 10th Avenue, 7th Avenue etc.  

For the beautification of the capital, Rs5 billion has also been allocated to undertake projects related to water, sanitation, street lights and parks. 

 

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PM commends FBR for historic 16% growth in revenue

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ISLAMABAD: Federal Board of Revenue (FBR) collected 3976 billion during July-April 2020-21 as compared to Rs. 3438 billion during July-April 2019-20, indicating an increase of 16 percent in gross revenue collection. 

The Prime Minister commended FBR for achieving 57 percent growth in revenue for the month of April. 

 

As per provisional information, the target for Jul-April period was Rs. 3637 billion in net revenue collection. The FBR managed to collect additional Rs. 143 billion, taking the net revenue collection to Rs. 3780 billion. As compared to last year, this indicates a growth of 14 percent during the same period. 

The growth in revenue collection is attributed to increased economic activity despite the COVID-19 pandemic. However, the net revenue collection decreased towards the end of April as control measures were tightened owing to COVID-19 increased infections. 

 

For more news, visit Graana.com