Surplus budget of Rs26.438 billion 2019-20 presented by Mayor Karachi

Karachi: In a meeting of the Council of Karachi Metropolitan Corporation, a surplus budget of Rs26.438 billion of the municipal administration was presented by City Mayor Wasim Akhtar on Thursday.

While the budget outlay is of Rs26,449 million, the expenditures stand at Rs26,438 million leaving a surplus of Rs10.936 million. KMC has proposed Rs9.47 billion for different development schemes.

The total number of receipts in the budget for fiscal year 2019-20 are Rs26,449.825 million which include current receipts as Rs20,374.087 million and capital receipts as Rs1,734.426 million. Funds for the district and provincial ADP will be Rs4,341.312 million.

Of the total expenditure, Rs14,462.326 million has been marked for establishment, Rs2,280.905 million allocated for contingent expenses while Rs222.040 million go to repair and maintenance. An amount of Rs5,132.305 million have been allocated for development projects and works and Rs4,341.312 million stand as expenditures from the provincial and district ADP. Government grants are estimated at Rs12.938.437 million and the provincial and district ADP are Rs4,341.312 million.

From an amount of Rs3,334 million marked by KMC for the 700 development projects, a total of Rs1,697.7 million is allocated for 494 road projects, Rs42.65 million for 10 municipal services, Rs35 million for seven transport and communications projects, Rs270.1 million for 62 health projects, Rs403.5 million for 103 culture and tourism projects, Rs45.05 million for eight IT projects and Rs833.5 million for other new schemes.

For news and updates keep on visiting Graana blog