Lahore: The Lahore Development Authority (LDA) has sanctioned a substantial budget of PKR 96.16 billion for the upcoming fiscal year. This budget, allocated to the LDA and its subsidiary agencies, was officially approved on August 7, reflecting the authority’s financial strategy and development goals for the year.
Budget Breakdown:
- LDA Urban Development Wing: The largest share, PKR 59.18 billion, is earmarked for the LDA Urban Development Wing. This allocation will primarily focus on urban planning, infrastructure development, and the enhancement of public amenities within Lahore.
- Water and Sanitation Agency (WASA): PKR 34.5 billion has been allocated to WASA, emphasizing the importance of water management and sanitation services in Lahore. This budget will support ongoing and new projects to improve the city’s water supply and sewage systems.
- Traffic Engineering and Planning Agency (TEPA): TEPA, which is tasked with managing traffic, road safety programs, and infrastructure planning to ease congestion and enhance traffic flow in the city, has been allocated PKR 2.49 billion in funding.
Governing Body’s First Meeting:
The budget was formally approved during the inaugural meeting of the LDA’s governing body for the fiscal year. This meeting was presided over by Vice Chairman Mian Marghub Ahmed, with LDA Director General Tahir Farooq providing a comprehensive briefing to the members. The budget approval marks a critical step in implementing various development projects and regulatory amendments.
Significant Approvals:
The meeting also led to several key decisions, including:
- Road Commercialization: Eight of Lahore’s main thoroughfares have been categorized and reclassified (commercialized). This move is expected to enhance economic activities by opening up new areas for commercial use.
- Regulatory Amendments: The governing body approved amendments to the LDA Transfer of Properties Regulation 2023, aiming to streamline property transfers and enhance transparency.
The Management of Properties of Lahore Development Authority Lease Right Regulation 2024 was also ratified, which will govern the lease rights and management of LDA-owned properties.
These decisions and substantial budget approval signify LDA’s commitment to urban development, infrastructure enhancement, and improved public services in Lahore.
