Budget 2021-22: KMC Approves PKR 26 Billion Tax-Free Budget
According to news reports, Karachi Metropolitan Corporation (KMC) administrator Laeeq Ahmed approved a PKR 26 billion development budget that does not include any additional taxes.
The approved budget for the fiscal year 2021-22 is PKR 25,982.414 billion, with a surplus of PKR 11,947 million, given that the total expected expenditures are PKR 25,970.467 billion.
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According to the administrator of Karachi, the KMC budget has allocated additional cash for the building of initiatives that serve the general populace. Existing and new infrastructure projects, including parks, roads, sports complexes, and public space, are prioritised, while non-development resources are limited.
While discussing the city administration’s revenue sources, he stated that the majority of revenue is generated through the collection of Octroi Zilla Tax (OZT) and the provincial governor’s budget allocations as a grant-in-aid of PKR 15.07 billion, while the district ADP is expected to collect more than PKR 5 billion.
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Mr. Ahmad remarked that the city administration is interested in providing Karachi people with recreational opportunities through the development of the zoo, Hill Park, Kidney Hill Park, Bagh Ibne Qasim, and 45 other KMC parks.
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