KARACHI: Outdated laws, manual procedures and rampant corruption in the Capital Development Authority (CDA) are hampering development and discouraging investors, a business leader said Sunday.
The investors who buy commercial properties worth billions are involved in petty matters like soil testing etc. which should be done by the CDA in advance, said Patron of Islamabad Chamber of Small Traders Shahid Rashid Butt in a release issued from Islamabad.
He said that CDA officials take years to approve the maps, design and plan of the building made by the professional engineers and architects approved by the Pakistan Engineering Council and the civic agency itself.
Building Control Cell of the CDA delay approvals unless their palms greased by investors resulting in delays, disheartenment and increased cost of doing business, he added.
He said that CDA must make system automated and approve the layout plans within one month to reduce corruption, cut cost of doing business and encourage investment.
This will make buying land easier, boost taxes and employment and cast down increasing trend of commercial activities in residential areas of Islamabad.
Butt said that CDA would impose 18 percent extra charges on late payments but it would not pay any damages for delay on its part to those whose billions are kept blocked for years.