ISLAMABAD: The government on Tuesday approved Rs 4 billion extra defencebudget for PAF in wake of deployments after crisis with India.
Rs8 billion supplementary budget has been allocated to meet additionalneeds of the Pakistan Air Force (PAF) and civilian armed forces, seekingfinancial assessment of further defence needs of the country in wake oftensions with India.
The Economic Coordination Committee (ECC) of the cabinet approved theadditional budget for the PAF and management of western borders bycivil-armed forces, said the Finance Ministry officials.
It has been decided to give around Rs8 billion for various purposes andnearly half of it would go to the PAF. The remaining amount is beingapproved for the Pakistan Rangers, civil armed forces and to pay to banksfor marketing Pakistan Banao Certificates (PBC).
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The ECC approved to give minimum Rs180 million or 0.75% of the totalinvestment in the PBC –whichever is higher, to a consortium of banks thatwould market these certificates.
The ECC chairman, who happens to be Finance Minister Asad Umar, alsodirected the Ministry of Interior to analyse the defence needs of the armedforces and inform the government so that it may make required allocations.
