Pakistan hiked defence budget by 11 percent
Pakistan has increased its defence budget by 11 percent for fiscal year 2014-15 that starts on 1 July 2014.
Pakistan on 4 June 2014 hiked its defence budget by 11 percent from 627.2 billion rupees to 700.2 billion rupees for the fiscal year 2014-15 that starts on 1 July 2014. The defence budget was hiked amid surge in Taliban insurgency in the country and volatile security environment of the country.
The hike in the defence budget was announced while Ishaq Dar, the Finance Minister of Pakistan was presenting 3.9 trillion rupees budget in the National Assembly. Although, Dar doesn’t gave a break up of allocated defence spending among the three forces.
In previous five years, the defence budget of the country has been doubled as in 2009-10 it was 350 billion and the budget for the 2014-15 has been raised to 700.2 billion rupees. The defence budget for the running fiscal year 2013-14 it was raised by 15 percent from 545.3 billion rupees to 627.2 billion rupees.
The defence budget of Pakistan has seen a raise in recent past also because of its historical uneasy relations with its arch rival India. Due to the uneasy relations, even India in its budget for 2014-15 has raised the spending by 10 percent (one concern is China’s rapid military expansion).