Pakistan raises defence budget to $5.2 bn

Pakistan increased its annual spending on defence to $5.2 billion (Rs.442 billion) as the government presented its budget Saturday with an outlay of Rs.2.764 trillion for the 2010-11 fiscal starting July 1.

The allocation for defence is Rs.442 billion, which is higher by Rs.100 billion and Rs.64 billion respectively against the current year’s and revised budget estimates, Online news agency reported.

The government presented its deficit budget with total outlay of Rs 2.764 trillion which is higher by 12.3 percent as compared to the current fiscal .

The budget has estimated country’s current resources at Rs.2.598 trillion for the next financial year, while the estimate under this head was Rs.2.299 trillion for the current financial year.

The total expenditure for the next financial year has been estimated at Rs 2.764 trillion. While Rs.1.998 trillion has been earmarked for current expenses, Rs.787 billion has been allocated for developmental expenses.

The developmental expenditure is 25.3 percent higher than the revised estimate for the outgoing fiscal.

Other allocations include Rs.7.28 billion for health, Rs.66.89 billion for economic affairs, Rs.448 million for environment protection and Rs.34.50 billion for education.

The budget has projected revenue collection from domestic resources at Rs.2.410 trillion during the next financial year, 20.1 percent higher than the current year’s estimate.