Pakistan hikes defence budget by 110 billion

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Islamabad, Sep 24: Pakistan has hiked its defence budget by Rs 110 billion for major military operations in the tribal areas bordering Afghanistan.

The changes, listed in a country paper presented by the government to the International Monetary Fund, include a reduction in the allocation for development by Rs 73 billion.

The allocations for military have been made while outlays on the development and non-development budgets have been slashed by 50 percent and 20 percent respectively to create fiscal space for rehabilitating the flood-affected population.

The paper submitted to the IMF highlights the government's plan to reduce overall expenditure by Rs 68.4 bn to Rs 2,696 bn and increase revenue by Rs 197 bn to Rs 2,607 bn.

Media reports said the paper submitted to the IMF has not been formally approved by the cabinet or parliament.

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