FY 2018-19 defence budget stands at Rs 1,100 billion

RAWALPINDI: A statement on Monday announced that country’s defence budget for fiscal year (FY) 2018-19 stands at Rs 1,100 billion, which is a 10.2 percent increase to the closing year, the routine yearly increase ranges between 10-12 percent that caters for inflation, depreciation, rise in pay, etcetera.

According to details, the statement rebuffing claims by certain quarters revealed that for the FY 2017-18, as estimated by finance ministry, the country’s defence budget has been Rs 998 billion.

The statement asserted, “The critics need to also realise the security environment that Pakistan faces today and economic determinants of security” stressing “Economy of any country cannot grow without security, peace and stability.”

The statement concluded, “This year increase in defence budget is also considered a normal increase, keeping in view all internal and external challenges posed to Pakistan.”