Pakistan - News and Discussion 6

[Naresh]

<b>Mudy Ji :</b>

Lo Kur Lo Baat!

<b><span style='color:red'>Defence budget up by 12 per cent</span></b> <!--emo&:flush--><img src='style_emoticons/<#EMO_DIR#>/Flush.gif' border='0' style='vertical-align:middle' alt='Flush.gif' /><!--endemo-->

ISLAMABAD - Federal Government has increased defence budget by 12 percent allocating Rs 250 billion for fiscal year 2006-2007 as compared to Rs 223.5 billion allocations last year.

Announcing the budget on Monday afternoon, State Minister for Finance Omar Ayub Khan said that the government could not ignore the defence needs of the country.

Major chunk of defence budget Rs.248.23 billion will go to Defence Services. In new financial year Rs 1.7 billion will be spent by Defence and Defence Production Divisions on development projects.

Rao Sikandar Iqbal Federal Minister for Defence termed the increase in defence budget nominal as compared to country’s defence requirements. “Most of the increase will be used to modernize the weaponry including early warning system for Air Force and frigates for Navy,” he said.

The Minister said it is need of the hour to modernize our forces as the danger still persists.

<b>Federal Government had initially announced Rs 223.5 billion for Defence while presenting budget for the year 2005-2006.</b> It was revised and total expenditure will reach Rs 241.1 billion by the end of current fiscal year. Main reason cited for this increase is the additional expenditure incurred due to October 8, 2005 earthquake.

<b>In 2004-2005 the total allocation for Defence was Rs 211.7 billion. The pension of the retired employees of Armed Forces is not included in the defence budget.

Opposition members in Senate and National Assembly are once again demanding that defence budget should be subject to scrutiny by the Parliament</b>

Cheers <!--emo&:beer--><img src='style_emoticons/<#EMO_DIR#>/cheers.gif' border='0' style='vertical-align:middle' alt='cheers.gif' /><!--endemo-->