KARACHI: Mayor Karachi Wasim Akhtar on Thursday presented RS26.44 billion Karachi Metropolitan Corporation (KMC) budget for the financial year 2019-20 in the Council Hall of KMC Building, ARY News reported.
Total receipts in the budget for the year 2019-20 are Rs 26,449.825 million, including Rs 20,374.087million as current receipts and Rs 1,734.426 million as capital receipts.
Rs 4,341.312 million have been allocated for provincial annual development program (ADP) and District ADP.
The total expenditure for the next fiscal year will be Rs 26,438.888 million out of which Rs 14,462.326million allocated for the establishment; Rs 2,280.905million for contingent expenses and Rs 222.040m for repair and maintenance.
KMC allocated a sum of Rs 3,334million for 700 development projects in the next fiscal year out of which Rs 1,697.7million allocated for 494 infrastructure(roads) projects.
Rs 270.100 million for health projects while Rs 403.500 million for 103 projects of culture and tourism have been set aside.
Mayor Karachi said the government reduced the development budget despite collected revenue amounting to Rs 300 to 400 billion in Karachi.
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“It was hard to prepare the budget due to financial crisis and limited resources as even staff salaries were difficult to be paid,” he added.
Deputy Mayor Syed Arshad Hasan and Metropolitan Commissioner Dr Syed Saif-Ur-Rehman were also present on the occasion.
The budget meeting will resume on Friday at 2:30 pm after which the council will give its approval for the next budget of KMC.
