Bangladesh plans over 11% defense budget hike

08:11, June 10, 2011      

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The Bangladeshi government has planned to increase the country's defense budget by over 11 percent in the next fiscal year 2011-12 (July 2011-June 2012) over the current 2010-11 (July 2010-June 2011) fiscal year.

"I propose a total budget allocation of 121.34 billion taka for the 2011-12 fiscal which is higher than the budget for the 2010-11 fiscal year by 12.16 billion taka," Bangladeshi Finance Minister AMA Muhith said in his budget speech on Thursday.

He said there is no alternative to augment the defense capacity of the country through modernisation of the armed forces. "As part of our initiative to modernize the defense system, we have taken steps to provide 123 training to three forces (of Bangladesh Army) to enhance their operational capacity and efficiency."

"We have been trying to procure modern equipment and modern technology-based military hardware and to enhance other benefits for the defense forces," he said.

Meanwhile, Muhith said approximately a total of 9,000 members of three forces are working in peace keeping missions of the United Nations at present.

"We cannot but admit that by occupying the top position in the list of the countries which send soldiers to the UN Peace Keeping Mission, our armed forces have not only glorified the image of Bangladesh but also made significant contribution to the economy," he said, adding "We believe that they will continue to leave their mark in the international arena in the similar fashion as they are doing now."

During the budget proposal for the current fiscal year in June 10 last year, Bangladesh planned to increase the country's defense budget by about 16.46 percent in the next fiscal year 2010-11 over the previous fiscal year 2009-10 (July 2009-June 2010). (1 U.S. dollar equals to 70 taka)

Source: Xinhua
 
 
     
 
 
 
     
 
 
 
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