Pak hikes defence spending 15 pc to Rs 347 bn

Pakistan has hiked its defence spending for fiscal year 2009-10 to Rs 347 billion ($4 billion) in the budget presented in parliament on Saturday.

Pakistan has hiked its defence spending for fiscal year 2009-10 to Rs 347 billion ($4 billion) in the budget presented in parliament Saturday.

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Of this, Rs 343 billion has been allocated for the armed forces, Rs 463 million for defence production and Rs 840 million for the defence division, Minister of State for Finance Hina Rabbani Khar said while delivering the first budget speech by a woman in Pakistan's history.

Quoting from the budget documents, Online news agency said the defence budget was 15 percent higher as compared to the allocation for 2008-09 "due to the high inflation rate and keeping in view of current situation at country's eastern and western borders".