LDA Governing Body Approves Rs 63 bn Budget
Lahore: The governing council of the Lahore Development Authority (LDA), led by Chief Minister Usman Buzdar, approved the Rs 63.4 billion annual budget of the LDA for the fiscal year 2021-22, subject to amendments by the planning and development, finance, and housing ministries.
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However, the governing council approved the reduced budget projection of Rs 48.7 billion for the 2020-21 fiscal year.
The LDA budget for FY 2021-22 includes Rs 9.4 billion for urban development wing, Water and Sanitation Agency (Wasa), and Traffic Engineering & Planning Authority (Tepa), Rs 22.5 billion, and Rs 41.4 billion to be received from the government as non-development, annual development programme, and deposit work receipts.
In contrast, the LDA anticipates spending Rs 61 billion in 2021-22, including Rs 36,6 billion for UD wing development projects, Rs 24 billion for Wasa, and Rs 342 million for Tepa programs and other development and non-development activities.
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The body approved the creation of a second seat for the chief engineer, a six-month extension to the validity of a commission addressing the rights of bona fide purchasers and illegal housing schemes, Rs 500 million in bridge financing for the LDA City Naya Pakistan apartment scheme, amendments to the 2019 LDA building and zoning regulations, and additional proposals.
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