Pakistan hikes defence budget by Rs 1 trillion
Pakistan on Friday hiked the defence budget to Rs 1.050 trillion amid tensions with India and Afghanistan.
Finance minister Miftah Ismail presented the budget where tax revenue target was around Rs 4.5 trillion.
Besides this Rs 220 billion were earmarked for subsidies. These subsidies would be given to power, textile, water, for construction of small dams, Ramzan package and wheat to be provided to Gilgit and Baltistan.
For the development projects, the federal and provincial governments are expected to spend Rs 1010 billion and Rs 1030 billion respectively.
Moreover, the government will give nearly Rs 2565 billion to provinces which will be consumed for social safety, reduction in poverty, health and education sectors.
The Opposition parties staged a walkout from the National Assembly budget session protesting against the government’s decision to present the budget for full fiscal year 2018- 19.
Federal minister Sheikh Aftab left the session to convince the opposition leaders to return back to the forum for the unveiling of the annual budget.
The members of the opposition parties tore out copies of the budget document presented to them and staged a protest around Ismail as he speak from the podium. Leader of the opposition Khurshid Shah criticised the government’s decision to announce a full year’s budget.
Shah said the ruling party was depriving the next government of its due right. “The right of the elected government should not be snatched. We should not be part of the budget,” he added.
He said that the government could have presented a 3- month budget. “An interim set- up will take over the government on May 30.”
Earlier in the day, a joint meeting of the opposition parties’ parliamentary leaders was held at the Parliament.