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FAISALABAD, Jul 10 (APP):The Finance and Development Committee of Faisalabad Development Authority (FDA) has granted preliminary approval to the budget proposals totaling Rs. 8.9182 billion for the fiscal year 2025-26. However, these proposals will now be presented to the Governing Body FDA for final approval.
The committee, in its meeting held at FDA Complex with Director General FDA Muhammad Asif Chaudhry, accorded the budget approval while Additional Director General FDA Qaiser Abbas Rind, Chief Engineer Mehr Ayub, Chairman Planning and Development Punjab, Secretary Housing, Urban Development and Public Health Engineering Punjab, Secretary Finance Punjab, Deputy Commissioner Faisalabad, and Wasa representatives Syed Naveed Iqbal, Farrukh Rasheed, and Shoaib Rasheed. Directors of Town Planning and Estate Management Junaid Hassan Manj, Asma Mohsin, Sohail Maqsood Panu, Director P&D Asim Mahmood, Deputy Director Finance Humera Ashraf, and other officials were also present on the occasion.
Director General FDA provided details on the current fiscal year’s budget proposals and said that these proposals were meticulously prepared with thorough review and attention to strengthen the organization’s financial stability and administrative structure.
These proposals would also ensure modern and organized administrative, construction and development initiatives by reducing various expenditures and increasing revenue through this budget, he added.
He highlighted that the budget includes proposals of allocation of Rs 6.3622 billion under the Annual Development Program/Additional Annual Development Program.
He said that despite an increase in salaries, non-development expenditures are proposed to be reduced by Rs 56 million.
He further said that the proposals included an increase of Rs.60 million in the revenue target in addition to an expected income of Rs.10 million from the approval of building maps in housing schemes.
DG FDA also mentioned that following the Punjab government directions, the implementation of the solarization project has resulted in an annual saving of Rs.10 million in electricity costs.
He informed that the funds of Rs.10 million have been allocated in the estimates for urban beautification projects, as per the instructions of the Commissioner Faisalabad.
He lauded the efforts of Additional Director General Qaiser Abbas Rind and the officers of Finance Department for preparing the productive budget proposals after a detailed review of administrative and financial matters and other initiatives.
Additional Director General Qaiser Abbas Rind briefed the committee on the preparation of the budget proposals and said that the estimates prioritize improving the administrative structure and increasing revenue.
During meeting, the budget proposals and their estimates were discussed in detail, leading to the unanimous preliminary approval of the budget proposals for 2025-26.