LALITPUR: 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 in annual revenue in the last fiscal year.
Surpassing the target, it collected over Rs 2.55 billion in revenue, six percent higher than the target, according to Prem Bahadur Thapa, Chief of Department of Revenue in the Metropolis.
At present, data on revenue collection is being updated and the final data is not available yet, said Thapa.
Similarly, the Metropolis recorded 81.22 percent capital expenditure in the last fiscal year, informed Bidur Kumar Dhital, Chief of the 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 in reducing the arrears to 0.46 percent in the same fiscal year, said Dhital, explaining that over Rs 580 million arrears were cleared during the review period.
