Pakistan hikes defence budget

Pakistan hikes defence spending by 17% to $5 billion
REUTERS, Jun 5, 2010, 06.33pm IST

Tags:Islamabad|State Bank of PakistanISLAMABAD: Pakistan raised its spending on defence by 17 per cent to 442.2 billion rupees ($5.18 billion) for the 2010/11 fiscal year (July-June), according to an official budget document.

The government raised its total tax revenue target to 1.78 trillion rupees, compared with 1.48 trillion rupees in the year ending June 30.

Inflation for fiscal year 2010/11 is targeted at 9.5 per cent, compared with the State Bank of Pakistan's forecast of average inflation of between 11.5 per cent and 12.5 per cent for the year ending June 30.
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