LMC's revenue collection exceeds target

Patan (Lalitpur), July 17: The Lalitpur Metropolitan City (LMC) has achieved notable success in revenue collection and spending of capital in the last fiscal year 2023/24.

The Metropolis had aimed to collect over Rs 2.4 billion annual revenue in the last fiscal year. 

Surpassing the target, it collected over Rs 2.55 billion in revenue, a six per cent higher than the target, according to Prem Bahadur Thapa, Chief of Department of Revenue in the Metropolis.

At present, data of revenue collection is being updated and the final data was not available yet, said Thapa.

Similarly, the Metropolis recorded 81.22 per cent capital expenditure in the last fiscal year, informed Bidur Kumar Dhital, Chief of Department of Finance in the Metropolis. 

According to him, over Rs 4.1 billion was allocated under the capital expenditure out of which over Rs 3.2 billion has been spent in the last fiscal year.

Furthermore, the Metropolis has succeeded reducing the arrears to 0.46 per cent in the same fiscal year, said Dhital, explaining that over Rs 580 million arrears were cleared during the review period. (RSS)