MABAD (Agencies) Capital Development Authority (CDA) has decided to sale important buildings and valuable properties in the federal Capital to overcome its financial crisis. CDA sale out health Directorate of billions worth situated in sector F-7.
Reliable sources informed that owing to unnecessary expenditures by CDA, the financial deficit has been mounted up to Rs9b and as a result, numbers of developmental projects have been in doldrums.
To overcome its financial crisis, the capitals authority has sold its Health Directorate situated in the posh area of sector F-7 in federal capital only in Rs1.30b to a foreign company and gave four months deadline to the existing occupying company of the building to vacate the building. It was pertaining to mention that CDA is facing acute financial crisis owing to its unnecessary expenditures and not completing revenue target and to address the mounting financial crisis has been also contacting with foreign and local companies to sale out important properties in the federal capital.
Spokesman CDA, Ramzan Sajid has refuted the prevailing financial crisis, stated that CDA is not facing any sort of financial difficulties, adding that selling of assets was as routine process and for this process all the legal requirements have been completed.
by the CDA.