Pakistan freezes defence budget, says prime minister
IRNA - Islamic Republic News Agency
Islamabad, June 10, IRNA
Pakistani Prime Minister Syed Yousuf Raza Gilani announced on Monday that the government has decided to freeze the defence budget as a measure of Pakistan's tangible display to seek peace with neighbours.
Pakistan had allocated 275 billion rupees for defence in the 2007-2008 1.475 trillion rupees of budget.
"Our neighbour would reciprocate Pakistan's gesture for the sake of peace and prosperity of the region," the Prime Minister said in the National Assembly.
In a policy statement in the lower house of the parliament he said the defence budget has actually reduced if seen in the context of inflation and rupee dollar parity.
"Pakistan is located in a geo-strategically important and turbulent region and we are living in a volatile environment.
Therefore we cannot afford to remain oblivious to our defence needs".
The Prime Minister categorically stated that Pakistan's stands for peace with honour and shall continue to strive for it without compromising its national interests.
"Pakistan's defence is based on the strategy of minimum, essential and credible deterrence and it will not enter into an arms race".
The Prime Minister also announced new mode of presentation of defence budget in the National Assembly.
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