Pak to raise defence expenditure by 9%, says survey
Pakistan is set to increase its defence expenditure by nine per cent in its annual budget this year, marking an allocation of Rs 275 billion for the sector.world Updated: Jun 09, 2007 18:00 IST
Pakistan is set to increase its defence expenditure by nine per cent in its annual budget this year, marking an allocation of Rs 275 billion for the sector.
The annual pre-budget economic survey has stated that the defence spending during the current financial year has reached Rs 172.8 billion out of the Rs 250.2 billion allotted last year.
According to the officials, a nine per cent increase was proposed for the financial year beginning from July 1, pegging the defence expenditure around Rs 275 billion.
Pakistan's defence expenditure shown in the budget records is exclusive of defence pensions which are shown along with the records of pensions for the civil servants.
The survey said that about Rs 172.8 billion amounting to 60 per cent of last year's defence allocation has been spent.
Pakistan defence forces are currently on a modernisation drive with approved plans to acquire some of the most modern weapons systems which include about 70 F-16s, three Swiss- made Erie Eye AWACS radars mounted on SAAB plans as well as ambitious plans for Navy with several ships from Greece and China.
The economic survey has projected mixed trends in Pakistan economy.
A record wheat output of 23.5 million tonnes and a robust agriculture sector enabled the economy to post a growth rate of seven per cent during 2006-07.
Shortfalls in manufacturing and cotton output targets, however, took some of the gloss off an otherwise encouraging performance, it said.