ISLAMABAD GENERATED ECONOMIC ACTIVITY WORTH PKR 100 BILLION IN 2020

ISLAMABAD: Data released by Capital Development Authority (CDA) showed that an economic activity worth around PKR 100 billion was carried out in the federal capital.

Contrary to 2019, when maps of 350 buildings were approved, the Building Control Section (BCS) of the civic agency approved maps of 2,315 buildings on 22 million square feet in 2020 and generated a revenue of Rs1.92 billion in terms of fee.

CDA spokesperson Mohsin Sherazi said that the civic agency hardly took interest in approving private housing societies in the past due to which not only illegal structures were developed but revenue could also not be generated as investors hesitated from putting their money in illegal projects.

“We divided the BCS into three directorates, including one for Zone-I and housing societies. We earned Rs1.92 billion only by approving the building plans. Overall area on which the buildings have been approved is 22 million square feet. If we suppose that Rs4,000 were spent on construction per square foot, an economic activity of around Rs100 billion was generated in the capital,” he said.

According to a statement, the CDA collected Rs1.92 billion in 2020 by approving maps of 2,315 buildings.

“These maps were of 2,075 residential and 138 commercial buildings. Last year, completion certificates of 359 buildings were issued by the authority. Moreover, revenue of Rs1.92 billion has been collected in respect of building approval fees,” it stated.

Leave a Reply