Lahore PHA reports record Rs2.35b revenue in FY-2023-24: DG
The Parks and Horticulture Authority (PHA) increased its own-source revenue to 2.35 billion in the outgoing financial year, a substantial rise from the Rs1.60 billion earned in the fiscal year 2022-23, through various commercial agreements, announced its director general.
In a press statement issued on Sunday, Muhammad Tahir Wattoo said the department had ambitiously set its revenue generation target at 2.32 billion, up from 1.44 billion in the fiscal year 2022-23.
He attributed the revenue growth to various business measures, including digital streamers, LED advertisement screens, shop boards’ fees, commercial nurseries, flower shops, and revised no-objection certificate (NOC) fees for housing societies, among other agreements.
Mr Wattoo highlighted that the marketing directorate, responsible for managing outdoor commercial advertisements, alone achieved a turnover of 1.44 billion, up from 1.19 billion. Income from the marketing directorate accounts for more than 60 percent of revenue.
“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 Mr. 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 state-ofthe-art 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 colors and varieties. The project, the first of its kind in Pakistan, will also include public facilities like a children’s play area, zip lines, skybridges, a glow-inthe-dark garden, and ample parking, Mr Wattoo had previously said.