KARACHI: the Karachi Metropolitan Corporation (KMC) Administrator Saqib Soomro has approved Rs33.682 billion surplus budget of the Corporation for the fiscal year 2015-16.
According to the budget documents, the KMC’s revenue during the next financial year would be Rs33.849 billion against the expected expenditures of Rs33.682 billion, showing Rs167.5 million surplus.
The next year’s budget is over Rs166m more than the outgoing financial year’s budget. The data shows that the KMC expects current receipts of over Rs21.27 billion and capital receipts of Rs5.8 billion, whereas it would receive Rs6.3 billion funds for the provincial and district annual development programme.
On the expenditure side, an amount of Rs14.2 billion has been earmarked for development projects. The KMC would spend Rs14.1 billion on establishment; while contingent expenses were expected to be Rs2.8 billion. An amount of Rs427m would be spent on repairs and maintenance, while over Rs2.05 billion was earmarked as the share of the district municipal corporations.
The KMC would initiate work on over 100 development schemes with its own resources and the provincial and district ADP funds. The schemes would include 37 major projects along with the ongoing projects which would also be completed in this year.
