(Publish from Houston Texas USA)
(By Mian Iftikhar Ahmad)
Faisalabad: The Faisalabad Development Authority (FDA) has prepared a multi-dimensional business strategy to accelerate measures aimed at increasing financial resources for urban development and public welfare projects. Under this strategy, various financial and business models are being thoroughly reviewed. In this regard, a review meeting was held in the conference room under the chairmanship of Director General FDA Muhammad Asif Chaudhry, during which Financial Consultant Shakeel Ahmed briefed the participants on different proposals to enhance revenue generation. The meeting was attended by Chief Engineer Mehr Ayub, Directors Junaid Hassan Manj, Asma Mohsin, Yasir Ejaz Chattha, Sohail Maqsood Pannu, Deputy Directors Engineering Talha Tabassum and Waleed Khalid, Deputy Director Finance Afzal Ansari, Deputy Director Estate Management Rabia Mubashira, Assistant Director Finance Bilal Ahmed, along with other officers. Speaking on the occasion, the Director General FDA said that increasing revenue sources is indispensable to make the authority financially stable and to ensure steady progress of urban development projects; therefore, a proactive and dynamic approach must be adopted to significantly expand development activities. He added that FDA’s available properties and assets can be utilized in profitable ventures in the public interest, for which there is a firm commitment to structured planning through financial, business, and technical management. During the meeting, various decisions were made after deliberations on business planning options including open auction of plots, balloting, direct agreements with different institutions, joint ventures, and public-private partnership models, with the objective of adopting viable mechanisms and introducing sustainable and long-term business models. The Director General FDA directed that strict measures be taken under a zero-tolerance policy for the recovery of outstanding dues from defaulters and stressed that the results of the Enforcement Cell’s recovery efforts must be clearly visible. He also emphasized curbing illegal commercialization, ensuring the recovery of due fees, and ordered re-verification of commercial building plans. The officers were instructed to personally supervise the revenue recovery campaign, with a clear directive that no negligence in the performance of duties would be tolerated.
