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Pakistan to increase defence budget by more than 20 percent2006-05-21 Islamabad: Pakistan may hike its defence budget by Rs 50 billion for purchasing new weapon systems for its armed forces.The Pakistan government is likely to allocate Rs 273 billion for defence budget in 2006-07 to help the armed forces to begin multi-billion military procurement programme over the next five-year period, a media report said. Defence authorities have sought an additional Rs 50 billion in next year's budget and would be increased from Rs 223.5 billion to Rs 273 billion, 'Dawn' newspaper quoted officials as saying. The budget excludes defence pensions. Last year's defence allocation amounted to three per cent GDP and was considered as "inadequate" for 2006-07, keeping in view increasing defence requirements of all three services, the officials said. "Roughly 20 per cent increase has been sought in the new defence budget," an official said, adding there had been sanctions in one form or another during the last many years due to which there were no significant military purchases. "But now for the next financial year a list has been given by the defence authorities to the government for making new purchases," he said. Pakistan recently finalised plans to buy about 25 new and old F-16 fighters from United States and J-10 fighter planes from China. It also plans to buy four naval frigates from Greece and few more from China. Sponsored Links
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