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GHMC now banks on ads for revenue!

GHMC now banks on ads for revenue!
Highlights

Greater Hyderabad Municipal Corporation (GHMC) Somesh Kumar announced on Thursday that the new draft advertisement policy and schedule of advertisement rates would be implemented from the financial year 2015-16. The corporation aims to earn Rs 100 crore through the initiative.

The GHMC is planning to increase its revenue through advertisements and has come up with new rates for new hoarding sites. For the last four years, no permissions were granted for new hoarding sites

Greater Hyderabad Municipal Corporation (GHMC) Somesh Kumar announced on Thursday that the new draft advertisement policy and schedule of advertisement rates would be implemented from the financial year 2015-16. The corporation aims to earn Rs 100 crore through the initiative. The details have been published on the GHMC’s website and advertising agencies have been invited to share their views within a week.

The draft policy also envisages 10 per cent of advertisement hoardings or 10 per cent of the time period which ought to be set aside for social messages including government announcements. The latest rates have been calculated after a study conducted by an agency Public Finance India which studied the existing advertisement tax rates in various metros. The category of advertisements includes hoardings, unipole, uni- structure, neon sign boards, arches, wall paintings, flex boards, shop shutters, lollipops, bus shelters, balloons, short films, mobile ads on buses, taxis and autos and slides.

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