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Pakistan Boosts Military Budget Amid Economic Struggles

ByIzhar Ul Haq

Jun 23, 2024 #17.6%, #Criticism, #economic challenges, #Impact, #increase, #military budget, #Pakistan
Pakistan Boosts military budget by 17.6% amidst economic challengesPakistan's military budget sees a 17.6% increase, sparking debates over economic priorities
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Pakistan Boosts Military Budget Amid Economic Struggles

In the latest budget announcement, Pakistan has revealed a significant increase in its military spending, raising it by 17.6%. This decision comes at a challenging time for the nation, facing economic difficulties and scrutiny from international financial institutions.

The Details:

Pakistan’s military expenditure for the fiscal year has surged to 2.1 trillion rupees, with a substantial portion allocated for defense purposes at 839 billion rupees. The civil administration will receive 1014 billion rupees, while 363 billion rupees are earmarked for pension expenditures. Additionally, 1000 billion rupees will be allocated as subsidies for sectors like electricity and gas.

 

The Announcement:

The Finance Minister of Pakistan, Mohammad Aurangzeb, presented the budget yesterday amidst criticism from the opposition. He stated that Pakistan’s military budget for this year is about 6.15 billion US dollars, marking an increase from the previous year.

 

Economic Context:

Pakistan’s economic growth target for the fiscal year 2025 is expected to be 3.6%, significantly lower than the projected 12% target. The country is negotiating with the IMF for an extended fund facility worth 6 to 8 billion dollars. This deal is being prepared to improve revenue collection by 40%, which is deemed challenging and almost impossible without burdening the average citizen.

 

Analysis:

The increase in military spending by more than 17% is a move that is likely to draw criticism. Islamabad seems to be trying to cover its tracks with the budget itself being absurd. The Pakistani government is showing an overall increase in expenditure of 30%, which is about 15 billion dollars more than last year. This unrealistic budget declaration comes at a time when Pakistan has declared its budget and because of the inflated numbers, the Pakistani military’s share seems small at 17%.

 

Political Implications:

Critics argue that the military establishment of Pakistan controls all the strings, including the purse strings. It will keep taking a lion’s share of the budget, and hiding the real amount of military spending from its citizens. Many wonder why is the Pakistani government doing this and why is it lying to its citizens, taxing them dry to feed its bloated military.

 

International Affairs:

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By Izhar Ul Haq

Izhar Ul Haq is a professional blogger and WordPress management expert. He is known for his expertise in various categories of blogging, with a special focus on politics. As an administrator at Paktrendline, Izhar Ul Haq ensures a smooth and engaging experience for readers interested in politics and current affairs.

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