Lahore: According to news reports, Punjab’s Chief Minister Usman Buzdar approved the Lahore Development Authority (LDA) ‘s PKR 63.4 billion development budget for the fiscal year 2021-22 on Tuesday (August 17). The decision was reached during a meeting of the governing body chaired by CM Buzdar.
The governing council also accepted PKR 48.7 billion in updated budget predictions for the fiscal year 2020-21, according to the sources. The authorized budget has been flagged as being sensitive to changes made by the departments of planning and development, finance, and housing. The following is a breakdown of the budget for development and non-development programs for the fiscal year 2021-22:
• The government would receive PKR 22.5 billion and PKR 41.4 billion in non-development, annual development programs, and deposit work receipts.
In the fiscal year 2021-22, the LDA, on the other hand, is scheduled to spend PKR 61 billion. PKR 36.6 billion has been set aside for urban development projects, PKR 24 billion for the Water and Sanitation Agency (WASA), and PKR 342 million for TEPA programs and other development and non-development activities by the authority.
The commission set up “for the rights of bona fide purchasers and concerns relating to illicit housing schemes” has been given a six-month extension by the organization. In addition, the LDA authorized a PKR 500 million bridge loan for LDA City Naya Pakistan Apartments, as well as revisions to the LDA construction and zoning laws for 2019 and a few other recommendations.