Karachi: According to news reports, Karachi Metropolitan Corporation (KMC) administrator Laeeq Ahmed approved a PKR 26 billion development budget on Tuesday that does not include any additional levies.
The approved budget for the fiscal year 2021-22 is PKR 25,982.414 million, with a surplus of PKR 11.947 million due to expected expenditures totalling PKR 25,970.467 million.
The KMC budget has provided additional funding for the building of initiatives that serve the general public, according to Karachi’s administrator. Parks, roads, sports facilities, and public space are prioritized, while non-development budgets are kept to a minimum.
He also indicated that, with the adoption of the new budget, 200 initiatives initiated in the previous fiscal year – under the Annual Development Projects – would be prioritized, and work on these projects would be completed as quickly as feasible.
He noted that the city administration’s revenue streams are primarily generated by the collection of the Octroi Zilla Tax (OZT) and the provincial government’s budget allocations as a grant-in-aid of PKR 15.07 billion, while the district ADP is scheduled to earn more than PKR 5 billion.
Mr Ahmad claimed that the city administration is interested in giving recreational opportunities to Karachi people by building the zoo, Hill Park, Kidney Hill Park, and Bagh Ibne Qasim, as well as 45 other KMC parks.
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