ISLAMABAD-The Capital Development Authority board has decided to give relaxation in submitting instalment on account of sold plots to their purchasers due to the outbreak of coronavirus.
The 3rd board meeting of this year was held in CDA headquarters on Monday, which was headed by Chairman CDA Amir Ali Ahmed and attended by rest of the board members.
CDA sells residential and commercial plots through open auction time to time and collects total upfront payment of these plots in quarterly instalments. If anybody fails to pay said instalments, he/she is charged with fine amount known as delayed payment charges that are separately calculated by the finance wing.
However, the CDA board have considered a summary regarding late submission of instalments due in April and May 2020 without levelling delayed payment charges due to ongoing corona pandemic.
It was deliberated that due to the ongoing situation, the business community is suffering huge losses and most of them are unable to pay their quarterly instalments.
The Estate Wing in its summary has suggested giving one time waiver from delayed payment charges on late payment of instalments.
The same summary has been approved and the plot owners have been allowed to pay their scheduled instalments once the emergency like situation ends and initially the relaxation is extended for the instalments due in April and May 2020.
According to a senior officer of Finance Wing, an amount of over a billion rupees was expected in April and May 2020 on account of its sold plots however now the same amount would be submitted once the situation become stable.
Meanwhile, the board has principally approved hiring of consultants for the environmental studies of the residential sectors I-12, I-14 and E-12. These consultants are being engaged through competitive procedure and board has decided to get the services of lowest bidder.
The board has also discussed another agenda item named delegation of powers regarding Islamabad Land Disposal Regulations, 2005 that was related to the powers to change the land use of commercial plots. Earlier, the CDA board was mandated to make such approvals, however, according to this summary, the respective board member is now allowed to accord approvals in this regard.
Meanwhile, the board has also approved a summary and allowed respective member to sign agreements with public sector utility service providing agencies i.e. PTCL, SNGPL, IESCO instead of the Chairman CDA.