KMC focuses on fiscal stability as it unveils surplus budget

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Karachi :  The Rs35,595.034 million annual budget of the Karachi Metropolitan Corporation (KMC) for the fiscal year 2013-14 was presented by the city administrator at the ZA Nizami Hall of the Civic Centre on Wednesday.

 

KMC Administrator Hashim Raza Zaidi approved the new budgetary estimates of the municipal authority.

 

During the presentation, Zaidi said that the expenditure for the forthcoming fiscal year is estimated at more than Rs35,493.867 million. According to the administrator, it is a surplus budget of more than Rs101.168 million.

 

“The budget has been prepared with a realistic approach and funds were allocated according to the financial requirement. Only the actual revenue targets were taken into account and all possible efforts were made to keep a balance between revenue and expenditure to ensure gradual financial stability,” he said.

 

Unnecessary expenditures were curtailed and a policy to increase revenue sources was adopted to hasten the completion of development works, Zaidi maintained. He claimed that this was a tax-free budget and over Rs19,124.54 million was allocated for various development projects.

 

The KMC administrator mentioned that the release of funds from the Sindh government in lieu of the Octroi Zila tax share, grant-in-aid and property tax, were around Rs11,712.02 million, while Rs9,329.877 million would be received from the provincial and district annual development programmes as well as viability gap funds.

 

The other revenue sources included Rs4,760.712 million from the recovery of local taxes, LM-I&II, PHS, estate, Katchi Abadis, PD Orangi, enforcement, charged parking and LARP. Other income was generated from the Rs1,983.064 dues of KMC and KDA against KESC, Rs1,640.630 million from municipal utility charges and veterinary, I.T and others, Rs1,459.229 million from the master plan, Rs1,080.450 million from transport and communication, Rs1,000 million from the transfer of income from SBCA, Rs992.500 million from enterprise and investment promotion, Rs716.450 million from finance and accounts, Rs630.344 million from engineering, Rs97.600 million from recreation, culture and sports, Rs61.750 million from municipal services, Rs35.388 million from the Karachi Mass Transit Cell and Rs12.800 million from parks and horticulture.

 

Presenting the highlights of the expenditure budget, Zaidi said that top priority was given to the engineering department, which will cost Rs9,565.538 million. Education and health sectors will cost Rs2,969.769 and Rs4,517.021 million, respectively. A total Rs2,745.892 million had been set aside for the provision of uninterrupted municipal services to citizens, he added.

 

Meanwhile, Rs1,448.472 were allocated for the development of parks and recreational facilities, while Rs1,140.247 would be spent on the transport and communication sectors, Zaidi revealed.

 

The summary of expenditure showed that Rs1,100.00 million was allocated for the funds that would be transferred to the district municipal corporations, out of which KMC would bear Rs894.254 million. Furthermore, the pension fund, debt servicing and other expenditures would cost Rs803.80 million to the KMC, while Rs738.013 million was allocated for the expenditures of secretariats.

 

Other major allocations in the budget include Rs600.211million for the information technology sector and Rs577.509 million for the culture, sports and recreation department of the KMC.

 

Zaidi said the population in Karachi is over 20 million and it is among the seven biggest cities in the world. “The progress of the metropolis is directly linked to the progress of the country. However, challenges facing Karachi are increasing and this situation has an effect on the basic infrastructure.”

 

The administrator said that development activities in the city were carried out in accordance with the Karachi Strategic Development Plan 2020.

 

He claimed that despite limited resources, the corporation has tried to make reasonable allocations for the next fiscal year so that development schemes and public services continued without hindrance.

 

Metropolitan Commissioner Matanat Ali Khan, Financial Advisor Khalid Mehmood Shaikh, Director Budget Nasir Mehmood, Director City Council Ghufran Ahmed and other departmental heads were also present on the occasion.





Courtesy:  The News


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