CDA Plans to Shift Financial Sanction Powers to Technical Roles

Islamabad, August 1, 2024: The Capital Development Authority (CDA) plans to shift the financial sanction powers to technical roles. This shift will enable technical members, such as member engineering, to have authority over both financial and technical sanctions.

Also read: CDA plans for ISB parks and industrial zone upgrades.

Traditionally, financial approvals have been centralized, often leading to bureaucratic delays. The shift in power will enhance operational efficiency and streamline the project approval process.

The CDA authority believes decentralizing powers will enhance transparency and maintain accountability. However, some senior financial experts have raised concerns about this proposal. They believe that the centralization of financial sanctions compromises transparency, auditing roles, and overall fairness in project evaluations.

The matter was discussed in a recent CDA Board meeting, where consent was given for conducting thorough research on financial rules from other institutions across the country.

Also read: CDA to float new proposal for investment in ISB IT Park

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