Karachi Property News:City govt unveils budget for 2011-2012
Karachi—Administrator Karachi Fazlur Rehman in exercise of the powers vested in him of City Council Karachi has approved City District Government Karachi’s budget for fiscal year 2011-12. He approved the budget during a ceremony held in the Seminar Hall of Civic Center on Wednesday.
The tax free budget worth Rs 70, 794.42 million showed expenditures estimates at Rs 70, 691.60 million and a surplus of Rs102.82 with Rs 32, 711.56 million earmarked for development and Rs 37,887.36 million for non-development expenditure.
Administrator Karachi on this occasion said that city government has curtailed the non developmental expenditures up to 30 percent. During the next fiscal year attainment of recovery targets will be focused more while revenue and expenditures will be reviewed on quarterly basis
He said despite of present financial crisis in country, city government will make sure continuation of ongoing development process in city.
Afterwards DCO Karachi Mohammad Hussain Syed in a press conference briefed the media on the salient features of budget for next financial year.
He said even while having limited resources, all efforts were made to ensure appropriate allocation for every department. During the next year, revenue targets will be achieved by bringing improvement in the current receipts.
Giving details of the budget, DCO said Current Receipts are estimated at Rs23,537.46 million and the Capital Receipts are Rs1,290.97 million. The Revenue Department has been given the topmost slot in the revenue generation list with expectations to collect Rs 8,157.72 million. OZT share from Government of Sindh is Rs8,050.00 million. The other major revenue sources included Rs 1,512.00 million from the Municipal Services, Rs 1,295.00 million from Master Plan, Rs 1,019.81 million from Works and Services Rs 1,000.00 million from SBCA as transfer of income, , Rs 804.23 million from Finance and Planning, Rs 538.00 million from Enterprise and Investment Promotion, Rs 138.39 million from Coordination, Rs 98.90 million from Transport and Communication, Rs 103.83 million from Community Development, Rs 81.39 million from Health, Rs 45.32 million from Karachi Mass Transit Cell, Rs0.80 million from Information Technology and Rs 26,225.15 million from Water and Sanitation Department.
Funds for the devolved departments of the Sindh government through the Single Line Transfer System(Salary, Non Salary & Distt.ADP) were Rs 19,740.84 million.
The CDGK set aside Rs 122.70 million for Karachi Circular Railway, which is more than its share for this project, while other allocations were made for Landhi Korangi Cottage Industry, Karachi Institute of Heart Diseases, Cardiac Care Emergency Units, storm-water drainage system, procurement of emergency fire-extinguishing equipments and vehicles, and construction of oil tankers terminal in Zulfiqarabad.