Pakistan defence budget increased by 11 percent
IRNA - Islamic Republic News Agency
Islamabad, June 4, IRNA -- Pakistan has increased its annual defence budget by 11 percent for the 2016-17 fiscal year.
Yesterday, Pakistan's Finance Minister Ishaq Dar took the budget bill for the new fiscal year to the parliament. The total budget proposed by the government is about 43 billion US dollars (4,395 billion Rupees).
The minister informed the parliament in his annual budget address that the country would provide 860 billion rupees (almost $8.6 billion) to the armed forces during the 2016-17 fiscal year.
'The defense budget has been increased to 860 billion rupees which is 11 per cent more than the last year,' Dar told the parliament.
Of the Rs 860bn allocation, about Rs 2bn would be spent on defence ministry establishment where the remaining Rs 858bn would be distributed among the three services – Army, Air Force and Navy.
Last year Rs 776bn was allocated for the defence budget. The defence budget has grown consistently over the past five years by around 11pc per annum except for 2013-14, the first year of the current government, when it increased by 15pc.
India's current defence budget is 51 billion dollars which is six times bigger than Pakistan's defence budget.
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