From Our
Correspondent
ABBOTTABAD: Director General, Galiyat Development Authority (GDA) Raza Ali Habib on Sunday hoped to increase the annual revenue target of GDA up to Rs 2.5 billion in the next two financial years by 2023 for achieving the self-reliance to support the local development.
The government wants to make GDA a financially independent body that does not seek help from anyone for its expenses, the Director General, GDA told media. Raza said that “We spend Rs. 350 million on current institutional expenditure of GDA, including salaries of employees and other expenses.”
Thus, in the fiscal year 2020, GDA will go to a surplus of 550 million and similarly, “We are taking new steps for further financial autonomy and growth of GDA.” The Director General said that in the year 2019, the annual revenue of GDA was Rs.360 million which increased to Rs. 900 million in the last financial year 2020 and also wasabout 150 percent revenue growth.
Responding to a question, he said the two plans was finalized to increase the GDA’s annual budget up to 2.5 billion by 2023 over the next two years, including the establishment of a five-star hotel in Nathiagali and the installation of a new state-of-the-art ‘Australian Chair Lift in Ayubia’.
He said that Khyber Paktunkwa (KPK) province would become the first five star hotel in Nathiagli at a cost of Rs. 3 billion with 50 per cent jobs to be provided to the local people. Senior official further said that in this regard training would be provided to the local youth for hotel and hospitality industry one year in advance.
He said that the initial talks for the said five Star Hotel were held in 2012 and eight years later it was implemented in 2021. In this regard, GDA sought bids from about 30 companies and each company paid a bid of Rs. 34.5 million and finally three companies were scrutinized, he said.
In the end, Baron Group of Companies was assigned to build the hotel on merit.
Raza said the Baron Group of Companies will pay about Rs 850 million over the next 10 years to GDA in the form of a land lease, the largest offer from either side. He said that after the construction of this hotel, GDA would earn an annual revenue of about Rs 1 billion, which would enable further development work in Galiyat.
The Director General said that in response to another question regarding Ayubia Chairlift, he said that Ayubia Chairlift is about 58 years old and work a new Australian-designed elevator from Ayubia to Dunga Galli will be started soon.
