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Pak's defence spending bound to be increased: FM

Pakistan's defence spending is bound to be increased over the budgetary allocation for the current fiscal due to the ongoing war on terror, Finance Minister Shaukat Tarin has said.

world Updated: Nov 17, 2009 13:56 IST

Pakistan's defence spending is bound to be increased over the budgetary allocation for the current fiscal due to the ongoing war on terror, Finance Minister Shaukat Tarin has said.

Tarin made the remarks while addressing a news conference at the finance ministry yesterday.

Pakistan had agreed during talks with the International Monetary Fund to increase its revenue collection target from Rs 1,380 billion to Rs 1,396 billion because of higher than expected security expenditure, he said.

Answering a query about increasing the salaries of the armed forces from next year, Tarin said the army had raised this issue with the government and justified the pay hike by saying that its personnel were sacrificing their lives by fighting extremists.

He said Pakistan expected to get $ 1.2 billion from the IMF by December after the approval of the executive board of the fund.

In June, Pakistan hiked its defence spending for 2009-10 to Rs 342.9 billion, marking a 15.3 per cent increase over the outlay of Rs 296 billion for the previous fiscal.

Pakistan has mobilised over 30,000 soldiers to flush out some 10,000 Taliban militants and foreign fighters from South Waziristan.

Over 500 militants have been killed since the operation was launched last month.