The Capital Development Authority (CDA) has announced a major shift toward a fully cashless digital payment system in Islamabad, aiming to enhance transparency, efficiency, and accountability in its financial operations. This progressive move was finalized during the fourth CDA Board meeting, chaired by Chairman Muhammad Ali Randhawa with full board attendance.
A New Era of Financial Transparency
The primary goal of this initiative is to streamline payment processes while reducing the risks tied to manual cash handling. By adopting a digital payment framework, the CDA hopes to foster transparency, minimize corruption risks, and improve user convenience.
So far, payments for 165 services offered through the One Window Operation have successfully transitioned to a digital format. Additionally, charges related to water tankers and Islamabad Water Accounts have now integrated QR code-based payment systems for hassle-free, cashless transactions.
Comprehensive Transition Across All Services
The CDA plans to extend the cashless payment system across all its financial transactions in the near future. This includes:
- Fines imposed by the Directorate of Municipal Administration (DMA)
- Charges from the Environment Department
- Enforcement-related payments
This expansion aims to ensure that every monetary transaction conducted by the CDA aligns with the highest standards of digital efficiency and accountability.
Implementing the SAP Double-Entry Accounting System
In a move to further improve financial management, the board has approved the implementation of the SAP double-entry accounting system. This advanced accounting framework will enable more accurate tracking of revenues and expenditures.
CDA officials have been instructed to compile a comprehensive record of all the authority’s assets by the end of the current fiscal year. The goal is to establish a clear and transparent overview of CDA’s financial status.
Corporate-Style Financial Reporting
Chairman Muhammad Ali Randhawa emphasized the importance of preparing a corporate-style financial report that will highlight:
- Annual achievements of the CDA
- Targets for the upcoming year
- A transparent summary of revenues, expenditures, and growth metrics
This approach aims to bring the CDA’s financial practices in line with international corporate governance standards.
Strategic Partnerships for Smooth Implementation
To ensure seamless integration of the SAP system, CDA is set to sign a Memorandum of Understanding (MoU) with the Controller General of Pakistan next week. This collaboration will aid in the smooth rollout of the new digital financial framework.
Committee to Identify Rented Properties
A special committee, led by the Member Finance and including the Director of Land, Director of Municipal Administration, and the Director General of the Building Control Section, has been formed. Their primary responsibility is to:
- Identify all CDA properties rented out in Islamabad
- Regularize tenancy agreements
- Maximize revenue through proper rental management
Benefits of Going Cashless
The transition to a digital payment system is expected to offer several benefits:
- Increased Transparency: Reduces corruption and promotes accountability.
- Efficiency: Speeds up payment processing across all CDA services.
- User Convenience: Enables quick and secure payments through QR codes and online systems.
- Better Financial Management: Advanced accounting tools ensure accurate reporting and asset tracking.
