Mayor Wasim Akhtar will chair the session
The Karachi Metropolitan Corporation is all set to present a Rs24.84 billion budget for fiscal year 2020-21 on Monday.
It will be presented by Karachi Mayor Wasim Akhtar at the Council Hall of the Old KMC Building. This will be the last budget of his tenure. The session will start at 2:30pm.
He has presented four budgets since he became mayor in August, 2016.
The fiscal budget figure for this year includes current receipts of Rs20.67 billion, capital receipts of Rs1.66 billion and funds for district ADP of Rs2.50 billion.
Total allocated expenditure in the FY2020-21 budget is Rs17.94 billion. Of this, Rs15.57 billion is for establishment payments, including salary, pension and other government allowance, Rs2.15 billion is for contingent expenses and Rs219 million for repair and maintenance.
The funds allocated for development works are Rs4.38 billion, including the funds for District ADP of Rs2.50 billion. The total expenditure reflected in the budget is Rs24.83 billion. It would be a surplus budget by Rs10 million.
This is the lowest budget allocation for Karachi in the last four years.
In FY2017-18, Rs27.1 billion was allocated to Karachi. In 2018-19, and 2019-20, the allocation stood at Rs26.44 billion.
A total of 120 out of 308 members will take part in the budget session as per the standard operating procedures.
It has been decided between the ruling and opposition parties that their members will participate at a ratio of 30% because of the coronavirus.