Galiyat Development Authority (GDA) Director-General Raza Ali Habib on Sunday said that they were expecting an annual revenue of up to Rs 2.5 billion by 2023 for achieving the self-reliance to support the local development.
“The government wants to make the GDA a financially independent body that does not seek help from anyone for its expenses,” Raza Habib said.
He said that they were spending Rs350 million on the current institutional expenditure of GDA, including salaries of employees and other expenses. In the fiscal year 2020, the GDA will achieve a surplus of Rs550 million as “we are taking new steps for further financial autonomy and growth.”
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The GDA director-general said that in the year 2019, the annual revenue of GDA was Rs360 million which increased to Rs900 million in the financial year 2020, which was 150 per cent revenue growth.
Responding to a question, he said that two plans had been finalised to increase the GDA’s annual budget up to Rs2.5 billion by 2023 including the establishment of a five-star hotel in Nathiagali and the installation of a new state-of-the-art ‘Australian chairlift in Ayubia’.
He said that the province would have the first-ever five-star hotel in Nathiagli costing Rs3 billion and the locals will have 50 per cent of the share in jobs.
Published in The Express Tribune, October 4th, 2021.