Islamabad, May 29 (newsin.asia): Pakistan’s defense expenditure in the next financial year will be Rs. 920.2 billion, (US$ 8.7 billion), around 7 per cent higher than it was in the outgoing year, the government announced in the budget for 2017-18.
It amount to 19.36 % of the total expenditure..
The operating expenses for the armed forces have been allocated Rs.225.5 bn (US$ 2.1 billion) , while almost Rs.322 bn (US 3 billion) will be sent on salaries and remuneration. The armed forces will get Rs.244 bn for ‘physical assets’ and Rs.128.35 bn (US$ 2.3 billion) for ‘civil works’.
The government will separately pay nearly Rs.180 bn (US$ 1.7 billion) in pensions to retired military officials and other cadre called Jawans.This does not count in the budget allocated to defense services.
Finance Minister Ishaq Dar, who presented the budget in Parliament, also announced a 10 % increase in the pay of all armed forced personnel as a ‘special allowance’ in recognition for their sacrifices in the ongoing conflicts across the country.
“Large operations like Zarb-i-Azb require vast sums. This is our national duty against terrorism for which provision of resources is the responsibility of the entire nation,” Dar urged.
The government will also be launching a new scheme through the Central Directorate of National Savings (CDNS) for the welfare of families of martyrs.
Under this scheme, a guaranteed and enhanced profit will be given as a means of support for martyrs’ families.
(The featured picture shows Pakistani troops of the three services on parade)