With an increase of Rs218 billion from the last fiscal year, the federal government has earmarked Rs18.4 trillion for defense spending in the budget 2023–24.
Govt allocates Rs18.4tr for defense: Ishaq Dar, the finance minister, released the Rs14,460 federal budget for 2023–2024.
In the fiscal year 2023–2024, the government allotted Rs824.65 billion for the Pakistan Army, more than Rs368.56 billion for the Pakistan Air Force (PAF), and Rs188.24 billion for the Pakistan Navy.
Defense services, infrastructure, and other defense divisions have received more than Rs352.53 billion in funding. The pay and other benefits of the armed forces’ employees will cost Rs705 billion.
The defense budget has allocated Rs442 billion for running expenses, Rs461 billion for physical assets, and Rs195.51 billion for civil works, totaling a significant investment of Rs1.09851 trillion in the defense sector.
The Ministry of Defence Production and its affiliated institutions would receive Rs.997.6 million in funding. In contrast, the Ministry of Defence Production and its affiliated institutions would receive Rs294.1 million for employee-related costs.
However, They allocated over Rs120 million for operating costs and set aside over Rs550 million for physical assets.