Pak hikes defence budget for 2016-17 to Rs 860 billion
world Updated: Jun 04, 2016 06:47 IST
ISLAMABAD: Pakistan said on Friday it would hike defence spending by 10.2% for the coming financial year, with finance minister Ishaq Dar announcing an outlay of Rs 860 billion for the sector in his budget speech.
Presenting the budget in the National Assembly or lower house of parliament, Dar said ,“The defence budget is being increased from Rs 780 billion for the outgoing fiscal year to Rs 860 billion for the year 2016-17.”
Last year, defence expenditure was pegged at Rs 780 billion, marking an increase of 11.3%.
Dar said defence expenditure was being increased in view of the current security situation in the country and the requirements of the armed forces.
The hike in spending was proposed against the back drop of ongoing military operations against militants in different parts of Pakistan and tensions with India, analysts said. Observers said the full military budget was not disclosed in the budgetary documents as the spending is usually kept under different heads.