Due to a lack of funding, the Capital Development Authority (CDA) has put a hold on four additional projects. The capital authority has stipulated that the start of the tendering process is contingent to the availability of funding.
The work on the Srinagar Highway has been put on hold due to a shortage of funding. The redesign of the I-8 Interchange to Faizabad Interchange Road and the eastern carriageway of the Srinagar Highway is also pending.
The CDA’s intentions to construct new U-turns and renovate the current ones on the Srinagar Highway have also been impacted. The past few months have seen a serious financial crunch for the city government.
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Details reveal that CDA only has a few months’ worth of money left over to pay employee salaries, hence it has stopped paying contractors.
Furthermore, the authority’s problems have also been exacerbated by the incomplete board. The plots’ auction has not yet received approval. As of right now, the recently hired Member Planning and Member Admin have not started in their positions.
The CDA authorities state that as soon as the financial concerns are resolved, work on the projects will begin. Plots valued at Rs. 12 billion were recently auctioned by CDA, and the proceeds would be placed into its accounts as soon as the board gives its approval.
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