Pak’s annual defence expenditure expected to exceed budgetary allocationNovember 27th, 2010 - 6:30 pm ICT by ANI
Islamabad, Nov 27 (ANI): A senior Pakistani official has claimed that the country’s defence spending exceeded the first quarter’s (July-September 2010) budgetary limits by about Rs28 billion, and that the continuation of this pace could result in the annual defence expenditure crossing Rs580 billion.
The expenditure reportedly exceeded the budgeted amount mainly because of the war on terror and the military’s prolonged stay in the tribal region.
According to the Dawn, the budget for the current fiscal year earmarked Rs442 billion for defence.
Higher than planned expenditure on defence and flood rescue and relief work and lower than estimated revenue collection in the first quarter had increased the quarterly fiscal deficit to 1.6 per cent from the budgeted target of 1.4 per cent of GDP, the official said.
The paper quoted the official as saying that the defence spending during the July-September quarter was estimated at about Rs89 billion, but provisional figures for the period available with the finance ministry put it at about 117 billion. The defence expenditure during the same period in 2009 was about Rs86 billion.
With this pace of spending, the annual defence expenditure could cross Rs580 billion, against the Rs552 billion estimated by the International Monetary Fund (IMF) and the budgeted allocation of Rs442 billion, he added.
The finance ministry’s guidelines for the current expenditure reportedly require all government agencies and ministries, including the offices of the President and the prime minister, to keep expenditures at 20 percent of the approved allocation for the first and second quarters of the fiscal year and 30 per cent in the third and fourth quarters.
The official further stated that provisional data on fiscal operations had been shared with the IMF and would be made public by the end of this month. (ANI)
- Pakistan allocates Rs.495 bn for defence - Jun 04, 2011
- Pak slashes development outlay to make way for Rs110 bn increase in defence budget - Sep 23, 2010
- India hikes defence spending by 13 percent (Second Lead) - Mar 16, 2012
- Pak cuts Rs 65 billion from proposed allocation for war on terror - May 25, 2010
- Pakistan hikes defence budget, Gilani looks at economic revival (Lead) - Jun 04, 2011
- Pakistan raises defence budget to $5.2 bn - Jun 05, 2010
- Pakistan hikes defence budget by 10 percent - Jun 02, 2012
- 11 percent hike in defence budget to push modernisation (Second Lead) - Feb 28, 2011
- Pak Govt revises economic plan to reduce fiscal deficit, win over IMF - Jan 22, 2011
- 18 per cent increase in Pakistan's defence budget approved - Apr 08, 2011
- 17 percent hike in India's defence spending (Lead) - Mar 16, 2012
- India hopeful of 4.6 percent fiscal deficit target - Sep 06, 2011
- Pakistan finalises Rs.3.8 trillion budget - May 27, 2011
- No need for extra stimulus to boost growth: Montek - Dec 02, 2011
- Pak Govt. increases defence budget by 28.9 percent for 2010-11 - Jun 06, 2010
Tags: budgetary allocation, budgetary limits, continuation, current fiscal year, defence expenditure, defence spending, finance ministry, first quarter, fiscal deficit, fiscal operations, flood rescue, gdp, government agencies, international monetary fund, international monetary fund imf, provisional data, provisional figures, quarters, target, war on terror