PUNE: BJP leader Vikas Mathkari said on Saturday that the Pune Municipal Corporation (PMC) should expedite its process of mobilising resources like
Transfer of Development Rights (TDR) and paid Floor Space Index (FSI) to overcome the financial crisis. Mathkari said, "The PMC has fixed deposits of Rs 603 crore in various banks. The deposits of Rs 555 crore are refundable, and the civic body has to return the same to various contractors after completion of work. This means that the PMC is left with only deposits of Rs 48 crore." "The civic body is taking loans to complete many developmental works. Also, cash compensation is being offered to those whose land has been acquired for development. To avoid further pressure on civic coffers, the administration should remove hurdles in issuing TDRs and also the process of paid FSI should be initiated," he added. Mathkari also presented a report by PMC's chief accountant explaining the revenue and expenditure side of the budget from April to November. While the civic body was expected to utilise Rs 830.24 crore on capital works till November 15, actual expenditure is Rs 586.14 crore which is only 44.12 per cent against the expected 62.50 per cent.
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