Defence budget likely to be increased by Rs313 billion in upcoming budget

The International Monetary Fund (IMF) has estimated an increase of Rs313 billion in Pakistan's defence expenditure in the forthcoming federal budget 2024-25.

The global lender, in its report, said that the defence expenditure in the current year is likely to be Rs35 billion more than the allocated budget.

According to the Washington-based lender, Pakistan's defence expenditure for the current financial year was estimated at Rs1.839 trillion rupees, while the budget was allocated Rs1.804 trillion.

Last year, Rs1.57tr was allocated for defence affairs and services. However, it was later revised higher to Rs1.59tr.

In the fiscal year 2021-22, the size of Pakistan's defense expenditure was Rs1.412 trillion, the IMF informed.

The defence budget for the fiscal year 2019-20 was Rs1.316 trillion and Rs1.213 trillion and Rs1.147 for 2018-19 and 2017-2018, respectively.

However, the cash-strapped country is expected to increase its army's budget by Rs313 billion to Rs2.152 trillion in the upcoming budget for the fiscal year 2024-25, which is set to be unveiled in the first week of June.