Pakistan

Defence gets 11pc boost in Budget 2016-17

defence

ISLAMABAD: Finance Minister Ishaq Dar in his budget speech announced an increased defence spending for the next financial year by 11 per cent to Rs860 billion.

Presenting the budget in the National Assembly, Finance Minister Ishaq Dar said, “The defence budget is being increased from Rs780 bn for the outgoing fiscal year to Rs860bn for the year 2016-17.”

The budget 2016-17 documents laid in the National Assembly put the defence budget figure at Rs 860bn.

Last year, the defence expenditure saw an increase of 11.3% at Rs 780 billion.

According to the minister, the defence expenditure was being increased in view of the current security situation in the country and requirements of the armed forces.

The hike in Pakistan’s military spending has been proposed against the backdrop of the ongoing military operations against militants in different parts of the country and tensions with India, which is the largest military spender in the region with a nearing or exceeding defence budget of $40bn and has become one of the world’s biggest arms importers in its quest to build up its military might.

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