Rs96.16bn budget for LDA approved

Author: APP

The governing body on Tuesday approved the Lahore Development Authority (LDA)’s budget for the fiscal year 2024-25 worth Rs 96.16 billion.

The meeting held here at LDA office was chaired by LDA Vice Chairman Mian Marghoob Ahmed and Provincial Assembly Members Hassan Riaz, Naeem Safdar, Sultan Ahmed Bajwa, Technical Member Abdul Hannan, and Akbar Sheikh.

LDA Director General Tahir Farooq briefed the governing body members on the meeting’s agenda. The body approved the budget for the fiscal year 2024-25, with a total allocation of Rs96.16 billion for LDA and its subsidiary agencies.

The budget comprises Rs59.18 billion for the LDA Urban Development Wing, Rs34.5 billion for WASA and Rs2.49 billion for TEPA. Additionally, the governing body gave provisional approval for the classification and reclassification (commercialization) of eight major roads in Lahore.

Key decisions included the approval of amendments to the LDA Transfer of Properties Regulation 2023 and the Management of Properties of Lahore Development Authority Lease Rights Regulation 2024. The meeting also sanctioned the establishment of the Directorate of Marketing and Business Development and the implementation of reforms and recruitment in the Strategic Policy Unit.

Development projects under the Sustainable Development framework in the Gulberg scheme were approved, alongside urban regeneration and modeling of MM Alam Road. Planned improvements for MM Alam Road include underground wiring, expanded parking, pedestrian walkways, cycling lanes, and asphalt work.

In the Gulberg scheme, development will feature rainwater harvesting systems, footpaths, pedestrian walkways, cycling lanes, solar lights, green belts, park restoration, and other infrastructure enhancements.

The meeting was attended by Chief Engineers of LDA, TEPA, MD WASA, additional D.Gs, Directors of Admin, C&I, Chief Town Planners, Chief Metropolitan Planning, and other relevant officials.

Representatives from the Lahore Commissioner’s office, Housing and Urban Development Department, Finance Department, P&D, Local Government, NESPAK, and other departments were also present.