Pak Army volunteers to reduce defence expenditure

PM Imran lauds Pakistan Army's initiative to reduce expenditure to help Pakistan through tough financial crisis

7
3337

ISLAMABAD: Prime Minister Imran Khan appreciated the “unprecedented” and “voluntary initiative” of the Pakistan armed forces to reduce defence expenditure for the next fiscal year due to the country’s financial situation.

The reduction in the defence budget comes at a time when Pakistan is going through a severe balance of payments crisis and has obtained another International Monetary Fund (IMF) bailout programme to shore up the depleted foreign exchange reserves.

In a tweet late on Tuesday, the prime minister stated that these cuts were despite “multiple security challenges” faced by the country.

The premier further stated that the money saved would be used for the development of erstwhile Fata and Balochistan.

Inter-Services Public Relations (ISPR), the military’s media wing, stated in a later tweet that the cut in defence budget during the current fiscal year will not be at the cost of defence and security.

Major General Asif Ghafoor reiterated that the armed forces “shall maintain effective response potential to all threats”.

He further said the three services will manage the impact through “appropriate internal measures” and added that it is important to participate in the development of the tribal areas and Balochistan.

The government may allocate over Rs4 trillion for debt and defence spending in the upcoming budget as the cost of debt servicing will hit a record Rs2.8 trillion.

This is mainly due to the IMF demand to increase the interest rate and shift budgetary borrowing to commercial banks.

The additional cost of debt servicing will be more than the amount that the government will collect by slapping additional taxes on the people, including low-income groups. The government has proposed an Rs5.550 trillion tax collection target for the Federal Board of Revenue (FBR).

7 COMMENTS

  1. Once again you have won our hearts.
    May Allah bless you through success in every walk.
    #pakarmyzindabad
    #Pakistanpayendabad

  2. Army leads by example yet again, both in austerity and in Justice, but shame on us people…what are we doing? Still making corrupt Zardari and Sharif Co. revelant. Time to follow suit and take out the corrupt trash for good. Time to pay taxes to a ‘Clean’ FBR and not the one subservient to corrupt nominees of the corrupt.

  3. SUBSIDIES & PERKS SHOULD BE WITHDRAWN

    Mr PM following important steps if taken by your govt will make substantial improvement in the economy.
    Millions of electricity units drained by WAPDA given to its serving and ex employees just for nothing.This free facility should be stopped forthwith.Same is the case with Railway,PIA and SNGPL and SSGPL employees.All facilities given free as reward or whatever must be stopped forthwith.
    All perks and privileges given to Parliamentarians as free eg electricity and gas units,telephone,PIA and Railway tickets,petrol and other facilities in addition to their salaries/allowances should be stopped forthwith.
    All free facilities given to serving and retired bureaucrats,Senior armed forces officers and
    judges should be stopped forthwith.
    Many free facilities given to federal and provincial ministers should be stopped forthwith.
    Stoppages of above mentioned free of cost facilities will make substantial improvement in the national economy rather than cutting salaries and other allowances of armed forces officers who are already living hand to mouth.
    Plz circulate widely if agree to these suggestions.

  4. I appreciate decision of Pakistan defence however I suggest that civilian budget also cut out 40% only essential projects be undertaken and pay all civilian officers grade 16 and above may not be increaes during cfy beside 50% in pay of parliamentary expenses be reduced .

LEAVE A REPLY

Please enter your comment!
Please enter your name here