LAHORE: The Parks and Horticulture Authority (PHA) of Lahore increased its own-source revenue to Rs.2.35 billion in the outgoing financial year 2023-24, a substantial increase from the Rs.1.60 billion earned in 2022-23, announced its director general on Sunday.
Muhammad Tahir Wattoo told that the organisation surpassed its ambitious target of Rs.2.32 billion, up from Rs.1.44 billion set in the previous fiscal year.
Wattoo highlighted that the marketing directorate, responsible for managing outdoor commercial advertisements, alone achieved a turnover of Rs.1.44 billion, up from Rs.1.19 billion. Income from the marketing directorate accounts for more than 60 percent of revenue.
He attributed the revenue growth to various measures, including digital streamers, LED advertising screens, shop boards’ fees, commercial nurseries, flower shops, and revised no-objection certificate (NOC) fees for housing societies, among other business agreements.
“Strong revenue growth has established a sustainable platform from which we can invest to expand the department’s reach, impact on the environment, and revenue,” he added.
“My team has worked tirelessly to optimise our resources and maximise our revenue potential, ensuring that we are not solely dependent on government funding.”
Under Wattoo, PHA has diversified its activities by venturing into new domains such as sports and arts, including organising three tent pegging championships to promote the traditional sport and inaugurating an art gallery in the historic Nasir Bagh.
Separately, the department has initiated the development of a botanical garden in Murree. Spanning 10 acres against the backdrop of the Himalayan foothills, the garden will feature Japanese Sakura and perfume gardens, a giant water lily pond, and a Wisteria tunnel showcasing various colours and varieties.
The project, the first of its kind in Pakistan, will also include public facilities like a children’s play area, zip lines, sky bridges, a glow-in-the-dark garden, and ample parking, Wattoo had previously said.
American Dollar Exchange Rate