Budget 2023-24: Govt allocates Rs1.804tr for defence spending

ISLAMABAD: The federal government has allocated Rs1.804 trillion for defence spending in the budget 2023-24 with an increase of Rs218 billion as compared to the previous fiscal year, ARY News reported on Friday.

Finance Minister Ishaq Dar unveiled the federal budget 2023-24 today with a total outlay of Rs14,460 billion.

The government allocated Rs824.65 billion for Pakistan Army, more than Rs368.56 billion for Pakistan Air Force (PAF) and Rs188.24 billion for Pakistan Navy in the fiscal year 2023-24.

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Over Rs352.53 billion has been allocated for defence services, establishment and other defence sections. Rs705 billion will be spent on salaries and other allowances of the armed forces employees.

For operating expenditures, Rs442 billion has been allocated in the defence budget, whereas, 461 billion was allocated for physical assets and Rs195.51 billion for civil works.

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Rs997.6 million has been allocated for the Ministry of Defence Production and its subordinate institutions, whereas, Rs294.1 million was allocated for expenditures on the employees of the defence production and its subordinate institutions.

Operating expenditures would be more than Rs120 million and over Rs550 million was allocated for physical assets.