• Download the Constitution of Pakistan
  • Advertise
Friday, May 16, 2025
  • Login
NEWSLETTER
ECONOMY
  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Life & Style
  • Politics
  • Sports
  • Technology
No Result
View All Result
  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Life & Style
  • Politics
  • Sports
  • Technology
No Result
View All Result
ECONOMY
No Result
View All Result
Home Business

RDA returns Rs1.145 billion to Punjab govt as mega projects shelved

by News Publishing
February 13, 2023
in Business
Reading Time: 3 mins read
0
RDA returns Rs1.145 billion to Punjab govt as mega projects shelved
Share on FacebookShare on TwitterLinkedinWhatsapp

After the development authority failed to kick off the projects, money to the tune of Rs1.145 billion released for three massive projects—the Kutchery Chowk Remodeling Project, Leh Expressway, and Ring Road—in the garrison city was returned to the provincial exchequer.

According to a senior RDA official, the provincial government last year allocated Rs 1 billion for Kutchery Chowk, Rs 50 million for land acquisition for the project to build a flood channel and the Leh Expressway, Rs 50 million for a feasibility study for the Leh Expressway and a flood channel, and Rs 42 million for the Ring Road.

The funds were still in the civic body’s accounts even though the RDA failed to begin the projects; however, the caretaker government requested that the development authority return the sums authorized for these projects. The official stated, adding that the money will be provided after the changes in government, “The new government would decide the fate of these projects after the Punjab Assembly elections.”

He explained that the province-wide ban on new development projects that the provincial government had enacted would not affect the ongoing projects.

On the other hand, a senior member of the provincial administration claimed that the caretaker government was not authorized to initiate any new development initiatives or to make funding allocations. He claimed that the caretaker administration was put in place to oversee provincial operations up to fresh elections. He stated that the NA-61 and NA-62 by-election schedules had been released, and the 19th of March had been set aside for voting. After the timeline was revealed, no new construction could be initiated in the district.

According to a senior RDA official, the civic organization has requested funding for these “ongoing projects” in a letter to the finance division. The RDA was prepared to begin these three initiatives, he noted. The Punjab finance department, he claimed, had not yet responded to the letter. The Kutchery Chowk project was prepared to begin, and Frontier Works Organization had already been given the contract in this regard.

The RDA official believed that the Rawalpindi Ring Road project had a little snag since the employment of a foreign consultant to select one of the two alignments for the project had been requested by Prime Minister Shehbaz Sharif.

When reached, RDA Director General Saif Anwar Jappa stated that money had to be returned because the caretaker for the province canceled funding for new development projects all over the province.

He announced that the Rawalpindi Ring Road would be discussed with Punjab Caretaker Chief Minister Mohsin Naqvi in the upcoming week. He continued, “We have placed an advertisement in the Khaleej Times, a newspaper published in Dubai, to request submissions for a third-party confirmation of the alignments.

He noted that the selection of a consultant firm would take more than three months to complete, but that if the acting Chief Minister gave his approval, RDA would move on. He added the project would start after the formation of a new government in the next fiscal year.

Tags: Kutchery ChowklatestLeh ExpresswayRDARing Road
News Publishing

News Publishing

Related Posts

Agriculture sector being developed on modern lines: PM

Agriculture sector being developed on modern lines: PM

by News Publishing
May 15, 2025
0

Prime Minister Muhammad Shehbaz Sharif has said agriculture sector is being developed on modern lines to achieve agricultural self-reliance. He...

KSE-100 Surges Past 120,000as Ceasefire, IMF Funding, andTax Relief Fuel Market Rally

KSE-100 Surges Past 120,000as Ceasefire, IMF Funding, and Tax Relief Fuel Market Rally

by News Publishing
May 13, 2025
0

The Pakistan Stock Exchange (PSX) extended its historic rally on Tuesday, with the benchmark KSE-100 Index climbing back above the...

PKR and Dollar

PKR Rises Amid Trade Truce Optimism

by Anum Arif
May 12, 2025
0

The Pakistani rupee showed early signs of strength on Monday, appreciating 0.1% against the US dollar in the inter-bank market...

PSX skyrockets nearly 10,000 points as ceasefire lifts investor confidence

PSX skyrockets nearly 10,000 points as ceasefire lifts investor confidence

by News Publishing
May 12, 2025
0

The Pakistan Stock Exchange (PSX) witnessed a historic rally on Monday, with the benchmark KSE-100 index surging over 9% following...

Export of services rises to $6.2bn in July-March

Export of services rises to $6.2bn in July-March

by News Publishing
May 9, 2025
0

Pakistan’s exports of services rose by 9.85% to $6.24 billion during the first nine months (July–March) of fiscal year 2024-25,...

Jets

CAC Stock Soars After PAF Downs Indian Rafales

by Anum Arif
May 7, 2025
0

Shares of China’s Chengdu Aircraft Corporation (CAC), the manufacturer of the JF-17 and J-10C fighter jets, surged more than 17%...

Next Post
IMF-Pakistan virtual talks begin today

IMF-Pakistan virtual talks begin today

About Us

Economy.pk is a source of economic, political, business, finance, health and sports updates.

Important Categories

  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Life & Style
  • Politics
  • Sports
  • Technology

Social Media

  • Facebook
  • Instagram
  • Twitter
  • Linkedin
  • YouTube
  • Linkedin
  • TikTok
  • WhatsApp
  • About
  • Advertise
  • Careers
  • Contact

© 2024 Economy.pk - Web Development by Digital Otters

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Life & Style
  • Politics
  • Sports
  • Technology

© 2024 Economy.pk - Web Development by Digital Otters