Pakistan Govt announces Rs 2.12 trillion as defence budget
Pakistan announced on Wednesday a nearly 18% rise in defence spending and earmarked Rs 2,128 billion in the 2024-25 budget, a major increase over last year amidst rigorous efforts to seek a new loan from the IMF to meet the cash-strapped nation’s foreign creditors.
Finance Minister Muhamad Aurangzeb delivered the budget in the National Assembly, the lower house of parliament. It was the first budget of the Pakistan Muslim League (Nawaz) (PML-N) and Pakistan Peoples Party (PPP) coalition administration, which took office following the February 8 general elections.
Defence spending is 1.7% of GDP, indicating a decrease from previous years. Defence spending in 2022-23 was roughly 2% of GDP, a figure that has increased as the economy has been rebased.
Also read: PM Modi, Joe Biden expected to meet at G7 Summit in Italy
Defence analysts say that a 17.6% increase is justified, considering the rupee’s record inflation and devaluation against the dollar in the previous year.
Budget details show that the Rs 2,128 billion sum excludes Rs 662 billion for retired military pensions and Rs402 billion for armed forces modernization.
According to the budget documents, Rs815 billion has been set aside for employee-related expenses, Rs513 billion for operating expenses, Rs548 billion for local purchases and imports of weaponry and ammunition, and Rs245 billion for civil works.
Also read: Mahatama Gandhi’s statue in Italy vandalised by Khalistani radicals
Increase in budgets of all three services
The budgets of all three services—the army, the navy, and the air force—were increased, with the army receiving the most due to its size and role.
According to defense analysts, Pakistan pays an average of $13,400 per soldier, India $42,000, Saudi Arabia $371,000, Iran $23,000, and the United States $392,000 per soldier each year. The distinction between Pakistan and other countries is that their economies are significantly larger than Pakistan’s.
Defense expenditure in Pakistan has always been a source of contention, with some calling for greater transparency and open debate about the military’s budget. In recent years, the Pakistani government has provided more information regarding the defence budget. However, there has never been an open debate in parliament on the matter.
