Pakistan to raise defense budget by 31% in 2010-11

15:50, May 22, 2010      

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Pakistani government decided to raise the defense budget by 31 percent from 343 billion rupees ( about 4.1 billion U.S. dollars) to 448 billion rupees (about 5.3 billion dollars) for the fiscal year 2010-11, local media reported on Saturday.

During a presentation to the Standing Committee on Finance and Revenues of the National Assembly, the lower house of the parliament, Finance Secretary Salman Siddique Friday said the Defense Ministry had requested an increase of 110 billion (about 1. 3 billion dollars) in the defense budget for 2010-11, however, the federal government had approved an increase of 105 billion rupees.

During the fiscal 2009-10, the federal government allocated 343 billion rupees for defense expenditure, however, due to military and other operations, an additional amount of 60 billion rupees ( about 0.71 billion dollars) was spent, according to the local newspaper Daily Times.

The secretary said the federal government's total budget during 2010-11 would be 2.488 trillion rupees (about 29.6 billion dollars) , out of which 1.7 trillion rupees (about 20.2 billion dollars) would come from federal taxes collected by the Federal Board of Revenue. He said 327 billion rupees (about 3.9 billion dollars) would come from foreign aid and loans and the remaining amount would be collected from non-tax revenues.

Pakistan has been facing a serious militancy problem in the wake of 9/11. Its security forces are carrying out operations on several fronts against militant and al-Qaeda members that are mostly operating in the tribal areas, adjacent with Afghanistan. The war against militancy has taken a heavy toll on Pakistan weak economy.

Source: Xinhua

(Editor:燕勐)

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