CDA board approves auction of commercial plots

ISLAMABAD:  The 14th board meeting of the Capital Development Authority (CDA) on Wednesday approved the auction of commercial plots and the hiring of an audit firm to improve the civic agency’s financial management system.

CDA Chairman Muhammad Ali Randhawa chaired the meeting where several agenda items came under discussion.

The meeting was informed that the CDA sold eight plots and four shops worth Rs19.56 billion through a highly successful auction of commercial plots and shops in 2025.

The meeting was told that the CDA sold plots and shops for over 11 per cent above market value, with some plots fetching up to 33 per cent more than the reserved price between July 15 to July 11.

It was discussed that the CDA had set stricter payment conditions, reducing the instalment period from two years to one and lowering the upfront payment discount from 10 per cent to 5 per cent.

“Despite this, the 2025 commercial plots and shops auction was highly successful, which attracted financially strong, stable and serious businesspeople who not only expressed full confidence in the CDA but also played a key role in making the auction successful,” said a press release.

The meeting was briefed that several chartered firms had submitted bids to prepare CDA’s five-year financial statements, with KPMG qualifying technically.

The firm will conduct a detailed review of CDA’s assets and improve its financial governance system. The CDA chairman directed that this project be completed within six months.

The CDA board also approved the process for new tenders to outsource solid waste management in Islamabad’s urban and rural areas.

It was decided to invite fresh bids from reputed national and international firms and divide the waste collection system into different packages.

The chairman directed that the standards of waste transfer stations and dumping sites be further improved and made more effective.

The board also approved a three-month extension of the waste collection agreement with the Rawalpindi Waste Management Company (RWMC).

The CDA board decided to form a committee comprising to determine the seniority of BS-19 environment cadre directors.

Similarly, the coard decided to refer the new promotion procedure for sub-engineers to the service rules committee for a comprehensive review.

The board also approved the budget estimates for the financial year 2025-26 in light of the recommendations submitted by all departments.

It was further decided that CDA’s water charges would be collected under a cashless system.

Randhawa said the development, prosperity and beautification of Islamabad remained the authority’s priority.

He said that all resources and efforts were being utilised to provide the best housing and transport facilities to the citizens of Islamabad and help transform the city into a model capital.