LDA Governing Body Approves Development Budget for FY 2021-22
Lahore: According to news reports, Punjab Chief Minister Usman Buzdar accepted the Lahore Development Authority’s (LDA) PKR 63,4 billion development budget for fiscal year 2021-22. During a meeting of the governing body presided over by CM Buzdar, the decision was made.
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Moreover, according to the sources, the governing council also approved revised budget predictions for fiscal year 2020-21 totaling PKR 48.7 billion. A budget breakdown for development and non-development programs for fiscal year 2021-22 comprises the following:
The urban development wing (UDW), the Water and Sanitation Agency (WASA), and the Traffic Engineering & Planning Authority already have access to PKR 9.4 billion (TEPA)
Government receipts of PKR 22.5 billion and PKR 41.4 billion for non-development, annual development project, and deposit work.
In contrast, the LDA is anticipated to spend PKR 61 billion for the fiscal year 2021-22. The authority has allocated PKR 36.6 billion for urban development initiatives, PKR 24 billion for the Water and Sanitation Agency (WASA), and PKR 342 million for TEPA programmes and other development and non-development efforts.
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The committee has approved a six-month extension of the commission’s mandate “for the rights of genuine purchasers and illegitimate housing schemes.” In addition, a bridge loan of PKR 500 million for the LDA City Naya Pakistan Apartments, revisions to the 2019 LDA building and zoning standards, and a few other suggestions were authorized.
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