CDA Plans Digital Database For Asset Management, Payments

Chairman of Capital Development Authority (CDA) Muhammad Ali Randhawa said a system would be devised to create a database for easy access to all authority’s assets, digitalising transfers and ensuring timely collection of lease extension dues and other payments

ISLAMABAD, (UrduPoint / Pakistan Point News - 1st Jun, 2024) Chairman of Capital Development Authority (CDA) Muhammad Ali Randhawa said a system would be devised to create a database for easy access to all authority’s assets, digitalising transfers and ensuring timely collection of lease extension dues and other payments.

Chairing a meeting, Chairman CDA stated that Security and Exchange Commission of Pakistan (SECP's) expertise will be utilized to develop the system. A joint committee of CDA and SECP officers has been formed to create this system in accordance with CDA rules, with SECP playing a supervisory role in its creation and implementation.

He stated that instead of selling assets, the organization will explore avenues for constant revenue.

Leveraging the experiences of various institutions, a system will be developed to maintain assets, ensure transparency in income management, and centralize asset records.

He said that in the asset management database, all organizational asset details will be accessible with a single click. This system will digitalise the transfer process and assist in collecting dues related to lease extensions and other timely payments.

The meeting was attended by Commissioner of SECP and other officers and board members of CDA. In the meeting discussed options for land record management and various options for making authority financially stable.