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Pakistan Defense Budget: According to the news of the Express Tribune, the defense budget for the outgoing financial year has been increased by about six percent.
Pakistan (PakistanInflation is breaking people’s back. The general public is suffering due to the rising prices of petrol and diesel. Poor people seem to be happy grain-to-grain. But Shahbaz Sharif (Shehbaz SharifThe government has ignored these things. Why are we saying this? Actually, the reason behind this is the defense of the country. Government of Pakistan (Pakistan Government) has increased the defense budget by about six per cent for the outgoing financial year to meet the requirements of the Army. In this way now the defense budget of Pakistan (Pakistan Defense Budget) has become Rs 1.45 trillion.
According to the news of the Express Tribune, this decision to increase the defense budget was taken by the Economic Coordination Committee (ECC) of Pakistan to meet other major needs including increased salary requirements. Apart from the decision to increase the defense budget of 80 billion Pakistani rupees, the government also approved a supplementary grant of 182 billion Pakistani rupees. According to the Tribune report, Pakistan’s Defense Ministry had asked for an additional amount of 80 billion rupees as defense budget for the ‘serious shortfall’. However, in addition to all this money, additional money was given to spend on the multi-functional office building at Jinnah Naval Base, Naval Base Turbat and Headquarters.
2.1 trillion military spending in the world
The report said that the meeting of the ECC was chaired by Finance Minister Miftah Ismail. In this meeting, a supplementary budget of 80 billion rupees for the Pakistani Armed Forces was flagged off. At the same time, according to the Stockholm International Peace Research Institute (SIPRI), military spending in the world reached its all-time high in 2021 with US$ 2.1 trillion. America, China and India were the top 3 countries to spend the most money on the defense budget. The thing to note here is that India is surrounded by Pakistan in the west and China in the north and northeast. There is tension on the border with both the countries. In such a situation, increasing the defense budget is bound to happen.
These five countries spent the most money on defense
The SIPRI report said, ‘Total global military spending grew by 0.7 percent to US$ 2113 billion in 2021. The five biggest spenders on defense in 2021 were the US, China, India, Britain and Russia. These five countries accounted for 62 per cent of global defense spending. Dr. Diego Lopes da Silva, senior researcher at SIPRI’s Military Expenditure and Arms Production Program, said, “Even amid the economic fallout of the COVID-19 pandemic, world military spending reached record levels.” He said, ‘Due to inflation, there was a slight reduction in defense expenditure. However, it was very nominal and military expenditure increased by 6.1 per cent.
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