950827

KHALID - 37-08-1995

Rs 1.3m surplus

HMC budget

presented

RECORDER REPORT

HYDERABAD: The Administrator Hyderabad Municipal Corporation, Mirza Ashiq Hussain Baig here on Sunday presented budget estimates for the year 1995-96 showing a nominal surplus of Rs. 1.3 million.

The administrator also presented revised budget for 1994-95 before a full house comprising newsmen, HMC officials and a large number of PPP workers of the dissident group.

The administrator declared that no new taxes had been proposed for the fiscal year 1995-96 and all out efforts will be made to meet the expenses through the corporation's own resources.

The budget which has been duely approved by the Sindh Government envisages an income of Rs. 19,55,14,000 while the total expenditure is estimated at Rs. 19,42,14,000.

The revenue income is estimated at Rs. 18,37,21,333 and the capital income is estimated at Rs. 6,17,92,667.

Under the revised budget for 1994-95, the total income as approved stands at Rs. 18,24,90,780 while the expenditure stands at Rs. 18,79,19,000.

The major source of income-octroi duty recovery is estimated at Rs. 16,04,51,000 since the octroi could not be auctioned. The octroi duty will be recovered by the Municipal staff itself.

The other sources of income as shown in the budget documents are property tax - Rs. 1,00,00,000, betterment tax - Rs. 12,00,000 transfer fees of immovable property - Rs. 10,00,000, miscellaneous fees Rs. 36,94,333, rents - Rs. 40,76,000, sale of lands and plots Rs. 1,13,02,667.

The administrator claimed that it was for the first time in the history of HMC that a surplus budget had been presented and added that because of the efforts of municipal staff there had been a tremendous increase in the income of corporation.