In a significant financial stride, the Capital Development Authority (CDA) has spent Rs 25 billion on various development projects in the federal capital during the ongoing fiscal year. This boost in spending comes as a result of improved revenue recovery by the authority’s finance wing.
At a meeting chaired by CDA Chairman Mohammad Ali Randhawa, officials revealed that the CDA had so far recovered over Rs 43 billion, including revenue from plot installments. Encouragingly, the recovery is expected to cross Rs 60 billion by the end of the fiscal year, as many citizens typically clear their dues in the final months.
Recovery Push and New Revenue Unit
During the meeting, CDA Member Finance Tahir Naeem Akhtar presented the current financial outlook and pending recoveries. In response, Chairman Randhawa formed a dedicated recovery unit headed by Akhtar, directing all wings of the CDA to actively assist in enhancing collections. This unit will focus particularly on retrieving dues from defaulters with cross-departmental support.
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While plot auctions remain the CDA’s traditional source of income, officials admitted this model alone is not sustainable. “We cannot continue relying solely on selling plots to run city operations. We need innovative, long-term income sources,” remarked a senior official.
New Projects for Sustainable Revenue
To diversify its income, the CDA is planning a series of new development initiatives:
• Construction of residential apartments at three separate locations
• Two new parking plazas in the commercial hub of Blue Area
• A five-star hotel, developed through a joint venture model
These projects are expected to generate recurring income, reduce dependency on land auctions, and elevate the city’s infrastructure standards.
Financial Sustainability and Reform Plans
A press release highlighted that the CDA is committed to financial self-sufficiency to ensure timely completion of development, beautification, tourism, and public welfare projects. Randhawa instructed the Directorate of Municipal Administration (DMA) to survey and verify leased properties, ensuring no illegal usage.
He also asked the DG Resource Wing to craft innovative strategies for revenue diversification to ensure long-term stability. With the budget season approaching, the chairman stressed achieving current fiscal targets while planning effectively for the upcoming year.