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Pak announces unspecified increase in defence expenditure
Pakistan has announced an unspecified increase in defence expenditure for the current fiscal, approved by the International Monetary Fund, and said that it will charge the US about $60 million monthly for logistical support provided to American forces.
Pakistan has announced an unspecified increase in defence expenditure for the current fiscal, approved by the International Monetary Fund, and said that it will charge the US about $60 million monthly for logistical support provided to American forces.
The IMF has agreed to allow Pakistan an increase in defence allocation in the current financial year and the government is not going to charge any war-related tax as our economy has the potential to absorb it, finance minister Shoukat Aziz told reporters in Islamabad said.
Aziz declined to reveal details of the hike but he said the IMF has agreed to revise the budget deficit target from 5.3 per cent to 5.7 per cent of the GDP.
The unspecified increase is significant because Pakistan had in the last budget for the first time announced a reduction in defence allocation.
The defence expenditure in the budget for 2001-2002 was pegged at Rs 131.63 billion against Rs 133.49 billion for the previous year. Aziz also said that Pakistan will charge the US monthly bills of roughly 60 million dollars for the logistic support being extended to the American forces who used facilities at the country's military bases.
Bureau Report
The IMF has agreed to allow Pakistan an increase in defence allocation in the current financial year and the government is not going to charge any war-related tax as our economy has the potential to absorb it, finance minister Shoukat Aziz told reporters in Islamabad said.
Aziz declined to reveal details of the hike but he said the IMF has agreed to revise the budget deficit target from 5.3 per cent to 5.7 per cent of the GDP.
The unspecified increase is significant because Pakistan had in the last budget for the first time announced a reduction in defence allocation.
The defence expenditure in the budget for 2001-2002 was pegged at Rs 131.63 billion against Rs 133.49 billion for the previous year. Aziz also said that Pakistan will charge the US monthly bills of roughly 60 million dollars for the logistic support being extended to the American forces who used facilities at the country's military bases.
Bureau Report