Islamabad,June 6 , IRNA — Pakistan Saturday announced annual budget with a 17 percent increase in defence allocation as the security forces are engaged in operation against the Taliban-linked militants.
The budget for 2010-11 was presented in the parliament and a debate will begin on Tuesday.
Finance Minister Abdul Hafeez Shaikh told the National Assembly, Lower House of the parliament in his budget speech that defense spending will be increased to 442.2 billion rupees (approximately $5.17 billion) for the new financial year beginning on July 1.
Defence allocation for the outgoing year had been 378.13 billion rupees.
The Finance Minister described security as the top issue and said that Pakistan is facing a situation in which the army, paramilitary forces and police are sacrificing their lives. He said the parliament will continue support to them.
The minister unveiled total outlay of budget is Rs 2,764 billion or $32.51 billion, which is 12.3 percent higher than the size of the budget estimates for outgoing fiscal 2009-10.
The minister announced 50 per cent increase in salary of the government employees and 10 per cent reduction in the salary of the cabinet ministers.
He said the new budget is aimed at protecting the economic recovery, checking inflation, achieving self reliance, reforming and enhancing social protection regime and reducing burden of public sector enterprises.