Daily Times

KARACHI: Karachi Development Authority (KDA) has submitted detailed revised annual financial reports of the entity for 2016-17 and on-going fiscal year to Jam Khan Shoro, Sindh Minister Local Government to chairman of Governing Body and its members.

The first ever revival report of KDA after fourteen years of dissolution as an independent entity has been aiming to add more development funds into the budget as entity has been facing financial crunch on part of its receipts. The officials of budget department said that Sindh government has provided grant-in-aid of Rs 2.30 billion to KDA, but revised estimations would be indicative for the poor financial health of the entity.

In this way the Authority would be able to overcome estimated deficit of Rs 2.23 billion in annual budget for fiscal 2017-18.

The receipts of the entity in on-going fiscal year has been estimated at Rs 4.07 billion while its estimated expenditures would come around at Rs 6.30 billion. In 2016-17, entity in a revised budget earned an amount of Rs 2.10 billion whereas its expenditures stood at Rs 4.07 billion.

The entity received a grant-in-aid of Rs 1.97 billion for lessening the deficit in 2016-17.

KDA’s expenditure on establishment for year 2017-18 on pay, allowances, pension, funds and leave encashment heads were amounting to Rs 3.436 billion after a revised estimate of Rs 3.045 billion.

In 2016-17 expenditures estimated at Rs 2.891 billion while in its corresponding year budget was amounting at Rs 2.199 billion.

Salary amount increased to Rs 3.69 billion in 2016-17, which recorded a growth of Rs 417.58 million to corresponding period.

The contingences for year 2017-18 stands at Rs 43.35 million while these were at Rs 32.79 million in last corresponding year.

Secretariat budget for 2017-18 is amounting to Rs 164.18 million against last corresponding year 2016-17 that stood at Rs 96.13 million.

Medical and Health budget for 2017-18 is amounting to Rs 172.38 million and Finance and Accounts is amounting to Rs 12.75 million.

Jam Khan Shoro said that government was extending all possible help and support for making KDA a stable development authority of province. He urged KDA functionaries to play their due role in development of Karachi.

The Governing Body of KDA in its special meeting approved budget estimates for year 2017-2018. The Body also granted approval for commencement/implementation of new budget w.e.f. July 1, 2017 in terms of Section 27 of KDA Order, 1957.

Director General, KDA, Syed Nasir Abbas presented first budget after entity’s revival.

Published in Daily Times, September 13^th 2017.