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Bangladesh Published At: 07 Jul 2024, 21:35 p.m.

DNCC collects record revenue of 1,078C

Dhaka North City Corporation (DNCC) Mayor Md Atiqul Islam speaks at the 29th corporation meeting and budget session of the 2nd parishad held in the capital's Gulshan-2 Nagar Bhabhan hall on Sunday, July 7, 2024. Photo: Courtesy

Over half of the total expenditure will be from DNCC's funds, says Mayor Md Atiqul Islam

In the 2023-24 financial year, Dhaka North City Corporation (DNCC) collected a record revenue of Tk1,078 crore, marking a 76% increase in revenue collection over the last four years.

DNCC announced its budget of Tk5,594 crore for the fiscal year 2024-25. This budget was unanimously approved during the 29th corporation meeting and budget session of the 2nd parishad, held in the Gulshan-2 Nagar Bhabhan hall on Sunday afternoon.

The revised budget for the fiscal year 2023-24 was also approved during the meeting.

DNCC Chief Executive Officer Mir Khairul Alam delivered the opening speech, followed by Chief Accounts Officer Md Barkat Hayat, who presented the revised budget for 2023-24 and the new budget for 2024-25. Both budgets were unanimously approved.

Mayor Md Atiqul Islam emphasized the prime minister's directive for city corporations to become self-sufficient and enhance their capacities.

He said: “Since assuming charge, I have been able to ensure consistent revenue growth. In FY 2024-25, 53% of DNCC's total budget will be met from its funds. More than half of the total cost will be borne from DNCC's funds.”

The mayor highlighted the milestone achievement in revenue collection without increasing the tax rate. The implementation of online holding tax and trade license collection significantly boosted revenue.

He noted: “Citizens can pay DNCC holding tax online at home, reducing civilian suffering and curbing corruption and irregularities. Transparency and accountability have been ensured.”

In previous financial years, DNCC's revenue was Tk612 crore in 2019-20, Tk692 crore in 2020-21, Tk794 crore in 2021-22, and Tk1,058 crore in 2022-23. The significant sectors contributing to the Tk1,078 crore revenue in 2023-24 include Tk517.85 crore from holding tax, Tk74.96 crore from trade license fees, Tk280 crore from property transfer tax, Tk104.79 crore from road digging fees, Tk32.77 crore from cow market leases, and Tk10.59 crore from advertisement fees.

Mayor Atiqul Islam outlined three priorities in the budget: protecting public health, alleviating flooding, and combating climate change.

He said: “The budget focuses on building a clean city through dengue prevention and sustainable waste management to protect public health. The development of the drainage system and recovery of canals will expedite efforts to alleviate waterlogging. Tree planting programs and other initiatives will be implemented to combat climate change.”