Pak Increases Defence Budget by 10-15%

[Storm Force]

Daily chart: Military might | The Economist

see what others spending especially the BIG 10 military powers

 

[HRK]

Finding it difficult to sustain with praise too? huhh

No buddy I just Praise your heartiest wishes........

 

[Amaa'n]

@HRK sir you took my words out of context. i had no intention of accusing or pointing finger at defence budget......i was merely trolling those who claim their party to be pure

i don't understand why indian's bottom is on fire. Our elected representatives are sitting in Govt. we brought them to that position, and they presented their budget.....so whats issue with that.....

 

[F.O.X]

I see .. So you want to give 25% increase to a office worker .. but those who are Fighting for this country when they get a 15% raise (lower then inflation) , you start dancing like headless chicken, as if some Armageddon is about to fall upon you .

Unbelievable ... Just Unbelievable .

 

[Argus Panoptes]

The real 800 pound gorilla in the room that no one is talking about is the debt repayment, which swallows up two-thirds of our budget. 2 out of every 3. Two-thirds. One-third for EVERYTHING else.

 

[HRK]

@HRK sir you took my words out of context. i had no intention of accusing or pointing finger at defence budget......i was merely trolling those who claim their party to be pure

i don't understand why indian's bottom is on fire. Our elected representatives are sitting in Govt. we brought them to that position, and they presented their budget.....so whats issue with that.....

oh bhai @balixd "sir" kon hai yah.....

We r at open forum can enjoy the same privilege......so buddy no "sir" type thing in future.......BTW i have edited my post.....

 

[DV RULES]

Its only 15% of the total budget, what is the big deal about it? Want to divert money towards social sector, start by stopping the subsidies offered to the three white elephants (PIA, Pakistan Steel and Pakistan Railways). The subsidies offered to these three departments is more than what we spend on education and healthcare.

We are in the middle of a war right now, we have a neighbour on our East arming to the teeth. 15% of the budget on Defence is quite average compared to what other countries are spending on their Defence. Start implementing more efficiency and scrutiny on money that is spent on the social sector, instead of blaming the Army for all the ills.

What exactly they did for Pakistan that deserved for even this minor increase in defense budget? Didn't you count them in the line of your said elephants?

 

[Invincible INDIAN]

No buddy I just Praise your heartiest wishes........

Giving you a another try,,,,

 

[HRK]

Giving you a another try,,,,

oh so kind of you.........

 

[Last Hope]

Nawaz Shareef is trying to keep the top brass happy and hoping to carry five years of looting, like his president, without any coup.

 

[notorious_eagle]

What exactly they did for Pakistan that deserved for even this minor increase in defense budget? Didn't you count them in the line of your said elephants?

WOW. You serve as a perfect example of a thankless human being. The mere fact that you still continue to have a country is proof enough that they have done their job correct. The men serving in the Armed Forces put their lives everyday in harms way just so we can live a normal and peaceful life. What exactly have you done for Pakistan? Ask the Palestinians or the Lebanese how it feels to have a piece of land but no political rights and freedoms. If it wasn't for Pakistan Army, there was nothing stopping India from doing what Israel did to Lebanon in 2006.

On Topic

The increase in budget is only in terms of nominal rate, factor in inflation and the defence budget has actually decreased in real terms.

 

[UmarJustice]

Pakistan raises annual defence budget by 10 per cent

Pakistan's new government announced Wednesday a 10 per cent increase in defence spending a week after taking office, despite a crippling budget deficit of 8.8 per cent.

The budget for fiscal year 2013-14, which begins July 1, comes against a backdrop of weak economic growth, high inflation, dwindling foreign exchange reserves and unprecedented power cuts.

But the new budget earmarked 627 billion rupees ($6.3 billion) for defence, a 10 per cent increase compared to 570 billion rupees in the outgoing year, ending June 30.

Prime Minister Nawaz Sharif took office last week after winning the May 11 elections, which marked an historic transition of democratic power in a country ruled half its life by the military.

The military is the most powerful institution in Pakistan. Sharif has in the past had troubled relations with the army, which in 1999 deposed him in a bloodless coup.

Finance minister Ishaq Dar told the National Assembly that the government would clear $5 billion in circular debt from the energy sector within the next 60 days.

“This will greatly help minimise power cuts in the country,” Dar said, giving no details on how the government would find the money to pay the bills.

Years of mismanagement, under-investment and corruption cause blackouts of up to 20 hours a day in blistering summer heat, when temperatures reach up to 50 degrees Celsius (122 Fahrenheit).

Pakistan is still paying off a $11.3 billion International Monetary Fund loan from 2008. Analysts believe the government must return to the lender to stave off a balance of payments crisis.

“Our government has chalked out a comprehensive reforms programme for economic development, which will control inflation, build the revolutionary change in the country's infrastructure and provide employment to youth,” Dar said.

Again, he provided no precise details.

He promised that the government would reduce the budget deficit by 2.5 per cent in the forthcoming year to 6.3 per cent and to four per cent within three years.

“The key point of our budget this year is to reduce the fiscal deficit and prevent the national economy from being adversely affected,” the minister said.

On Tuesday, he unveiled figures that showed the outgoing government had fallen below target in virtually every economic indicator.

Dar said GDP in the outgoing fiscal year was 3.6 per cent compared to a target four per cent.

The government has set a new target growth of 4.4 per cent for the coming fiscal year.

Pakistan raises annual defence budget by 10 per cent - DAWN.COM

 

[That Guy]

The decision may have been to assure the military that Nawaz isn't going to look for revenge.

 

[Abingdonboy]

He promised that the government would reduce the budget deficit by 2.5 per cent in the forthcoming year to 6.3 per cent and to four per cent within three years.

“The key point of our budget this year is to reduce the fiscal deficit and prevent the national economy from being adversely affected,” the minister said.

I'm sorry but this is utter rubbish- cutting the fiscal deficit practically in half within 3 years? This is a HUGE task. It is achievable but only with extreme austerity measures being announced- Nawaz has announced 2 new nuclear projects with China, promised to cut loadsheddig (which will cost a lot) and now an increase for the military. Doesn't seem he is at all serious about addressing the budget deficit. And all this at a time when Pakistan is in a circular debt crisis! Any sane Pakistani would be a fool to believe this guy's empty promises.



Maybe this is cynic in me speaking.............

 

[ejaz007]

Budget FY14: Defence spending up by 10 pc to Rs 627bn

ISLAMABAD: Finance minister, Ishaq Dar, while presenting Budget 2013-14 speech, Wednesday announced a 10 percent increase in defence spending a week after taking office, despite a crippling budget deficit of 8.8 percent.

The budget for fiscal year 2013-14, which begins July 1, comes against a backdrop of weak economic growth, high inflation, dwindling foreign exchange reserves and unprecedented power cuts.

But the new budget earmarked Rs627 billion ($6.3 billion) for defence,
a 10 percent increase compared to Rs570 billion in the outgoing year,
ending June 30.

Prime Minister Nawaz Sharif took office last week after winning the May 11 elections, which marked an historic transition of democratic power in a country ruled half its life by the military.

The military is the most powerful institution in Pakistan. Sharif has in the past had troubled relations with the army, which in 1999 deposed him in a bloodless coup.

Finance minister Ishaq Dar told the national assembly that the government would clear $5 billion in circular debt from the energy sector within the next 60 days.

"This will greatly help minimise power cuts in the country," Dar said,
giving no details on how the government would find the money to pay the bills.

Years of mismanagement, under-investment and corruption cause blackouts of up to 20 hours a day in blistering summer heat, when temperatures reach up to 50 degrees Celsius (122 Fahrenheit).

Pakistan is still paying off a $11.3 billion International Monetary Fund
loan from 2008.

Analysts believe the government must return to the lender to stave off a balance of payments crisis.

"Our government has chalked out a comprehensive reforms programme for economic development, which will control inflation, build the revolutionary change in the country's infrastructure and provide employment to youth," Dar said.

Again, he provided no precise details.

He promised that the government would reduce the budget deficit by 2.5 percent in the forthcoming year to 6.3 percent and to four percent within three years.

"The key point of our budget this year is to reduce the fiscal deficit and prevent the national economy from being adversely affected," the minister said.

On Tuesday, he unveiled figures that showed the outgoing government had fallen below target in virtually every economic indicator.

Dar said GDP in the outgoing fiscal year was 3.6 percent compared to a target four percent.

The government has set a new target growth of 4.4 percent for the coming fiscal year. (AFP)

Budget FY14: Defence spending up by 10pc to Rs627bn - thenews.com.pk