Monday, June 17, 2019
facebook
World

Posted at: Jun 12, 2019, 7:06 AM; last updated: Jun 12, 2019, 7:06 AM (IST)

No change in Pak’s defence budget amid austerity drive

Islamabad, Jun 11

Pakistan on Tuesday announced that its defence budget for the next fiscal year (2019-20) will remain the same as the last year’s Rs 1,150 billion amid an austerity drive by the government to solve the cash-strapped nation’s financial woes.

Pakistan’s military, in a rare move, early this month decided to voluntarily cut the defence budget for the next fiscal year and  assured the nation that there would be no impact to its “response potential” due to the voluntary cut in the budget.

Minster of state for revenue Hammad Azhar on Tuesday presented in Parliament the austerity driven budget for fiscal year 2019-20, which starts from July 1.

The government unveiled Rs 7,022 billion for the year 2019-20, setting growth target of 4 per cent.   “Defence budget will remain unchanged at Rs 1,150 billion to the level of last year,” he said.

The minister, however, added that it will in no way impact the defence capability of the country because defence of the country is sacred for the government.

Earlier, Prime Minister Imran Khan said that there would be no increase in the defence budget of the country for the next fiscal year.

He said that army voluntarily agreed to cut its spending due to precarious economic situation. “I appreciate Pak Mil's unprecedented voluntary initiative of stringent cuts in their defence expenditures for next FY (fiscal year) because of our critical financial situation, despite multiple security challenges,” he said. — PTI

COMMENTS

All readers are invited to post comments responsibly. Any messages with foul language or inciting hatred will be deleted. Comments with all capital letters will also be deleted. Readers are encouraged to flag the comments they feel are inappropriate.
The views expressed in the Comments section are of the individuals writing the post. The Tribune does not endorse or support the views in these posts in any manner.
Share On