LDA governing board, led by Chief Minister Usman Buzdar, approved the LDA’s c annual budget of Rs63 billion for 2021-22 on Tuesday, subject to revisions by the planning and development, finance, and housing departments. On the other hand, the governing council accepted the Rs48.7 billion amended budget estimates for 2020-21.
The LDA budget for FY 2021-22 includes Rs9.4 billion already set aside for the urban development wing, the Water and Sanitation Agency (Wasa), and the Traffic Engineering and Planning Authority (Tepa), as well as Rs22.5 billion and Rs41.4 billion in non-development, annual development program, and deposit work receipts to be received from the government. However, the LDA expects to spend Rs61 billion to Rs36.6 billion on UD wing development projects, Rs24 billion on Wasa, Rs342 million on Tepa schemes, and other development non-development activities in 2021-22.
The body approved a six-month extension to the validity of a commission set up to protect the rights of bona fide purchasers and issues related to illegal housing schemes, Rs500 million in bridge financing for the LDA City Naya Pakistan apartment scheme, amendments to the LDA building and zoning regulations 2019, and other proposals.
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The body approved the creation of a second chief engineer seat, a six-month extension to the validity of a commission established to protect the rights of bona fide purchasers and to address issues related to illegal housing schemes, Rs500 million in bridge financing for the LDA City Naya Pakistan apartment scheme, and other proposals.
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“Firdaus Market Underpass is already finished. Three massive projects, including the Shahkam Chowk Flyover, Gulab Devi Underpass, and Sheranwala Gate Flyover, are now under construction, according to CM Buzdar.
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