Finance Minister Miftah Ismail Friday announced a big hike in military spending for the next fiscal year.
The government increased the defence budget to Rs 1.1 trillion as compared to the revised budget of Rs 999 billion in the 2017-18. “The defence budget is proposed at Rs 1,100 billion against the revised budget of Rs 999 billion in the 2017-18,” newly appointed Finance Minister Miftah Ismail said in his budget speech during the special session of the National Assembly.
Out of the total allocation, an amount of Rs 1,100,334 million has been allocated for Defence Affairs and Services. A major chunk of the sum – Rs 1,097,949 million – will be spent on defence services.
The government will spend Rs 422,911 million on employee-related expenses. Other allocations include Rs 2,385 million for defence administration, Rs 253,467 million for operating expenses, Rs 282,328 million for physical assets, and Rs 141,293 million for civil works.
Separately, the federal government has allocated Rs 640.644 million for five ongoing and two new development schemes of the Defence Division, under the Public Sector Development Programme (PSDP) for financial year 2018-19.
According to the budgetary document, a total of Rs 562.447 have been earmarked for the ongoing schemes. Out of this, Rs 253.954 million have been reserved for procurement of three latest printing machines for modernisation of the Survey of Pakistan office. An amount of Rs 89.781 million has been allocated for establishment of FG Degree College for Boys Kohat Cantt and Rs 85 million for construction of office complex including boundary wall of survey of Pakistan, Lahore.
The funds of Rs 75.515 million and Rs 58.197 million have been earmarked for procurement/construction of maritime patrol vessels (MPVs for PMSA) and water distribution network for RCB/CCB based on Khanpur Dam Water Source (Phase-III), respectively, etc.
Published in Daily Times, April 28th 2018.
