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Wednesday 24 July, 2024
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Budget 2023-24: Govt Increases Defense Budget to PKR1.8 Trillion

BY Shahzad Saeed Jun 10, 2023. 09:35 pm UPDATED: Jun 10, 2023. 09:35 pm

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The federal government has allocated Rs. 1.804 trillion for defense purposes for the fiscal year 2023–24, a 13 percent increase from the prior year. As of right now, 12.5% of all government spending and 1.7% of the nation’s GDP go toward defense.

The Pakistan Army received the majority of the defense budget, or Rs. 824.6 billion, while the Pakistan Air Force and Pakistan Navy each received Rs. 368.5 billion and Rs. 188.2 billion.

Additionally, not included in the defense budget, the pension for retired military officials has increased by 26% to Rs. 563 billion.

The defense budget is broken down into several categories: civil works (Rs. 195 billion), employee-related costs (Rs. 705), operating costs (Rs. 442), physical assets (Rs. 461), and defense administration (Rs. 5.4 billion).

Operating costs include transportation, petroleum, oil and lubricants, rations, medical care, and training, while salaries and allowances for soldiers and civilian employees are covered by the defense administration. Physical assets include local purchases as well as the importation of weapons and ammunition, while civil works include both the upkeep of current infrastructure and the construction of new structures.

According to the government, this increase is “necessary” to maintain the safety and sovereignty of the nation.

Read more: UAE and Pakistan will sign an agreement for prisoner exchange

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