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2 LDA housing schemes hang in the balance

LAHORE – The fate of two LDA housing schemes at Ferozepur Road and Raiwind Road announced to be designed on the pattern of DHA three years back hang in the balance due to financial constraints, lack of commitment and other numerous scandals regarding illegal private housing schemes and bogus files of plots in LDA’s approved schemes.

According to sources in the LDA, both the housing schemes that were to be prepared for low income group hit snags since the time of its formal notification as the authority concerned had run out of basic amount required for the acquisition of land for the schemes.

The sources said the LDA conducted a report on financial review that revealed that income of the agency was subsiding due to visible dearth of financial discipline in the areas of land acquisition, execution of development schemes and management of future liabilities.

The report said the authority concerned was facing overall budgetary deficit of more than Rs 2.5 billion during the last fiscal year that was further increasing by every passing day. “LDA income was Rs 2866.603 million against its expenditure of Rs 5542.394 million showing deficit of Rs 2675.791 million. The deficit started with Rs 915.791 million in 2005-06, Rs 1534.210m in 2006-07 and reached Rs 2675.791 million in 2007-08,” the report pointed out.

“Non-development expenditure shows a rising trend over the development expenditure. The LDA non-development expenditure stands at Rs 1324.291 million against development expenditure of Rs 1320.896 million,” the report said.

The sources said that one of the top most problems that impeded the launch of these two schemes likely to be called LDA Avenue II and LDA Avenue III was the strong cartel of private housing schemes and some officials of the agency. “The mafia is deeply involved in acquiring lands in the areas that had been allocated for the development of both the schemes,” the sources added. It had conspired, the sources disclosed, that both the schemes should remain lying in limbo so that they could succeed in acquiring maximum land to develop its own housing schemes

Source: The Nation

2 LDA housing schemes hang in the balance
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2 LDA housing schemes hang in the balance
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