Pakistan has announced plans to raise defence spending by 17 per cent in the fiscal year ending June 2026, while cutting overall government spending by seven per cent to Rs17.57tn ($62bn).
In a budget issued just a month after the worst fighting between Pakistan and arch-rival India in decades, finance minister Muhammad Aurangzeb on Tuesday earmarked Rs2.55tn for defence for the year starting July 1, up from Rs2.18tn in 2024-25.
The cash-strapped country, where the military wields broad influence over political and economic affairs, is set to embark on a defence spending spree to patch up holes in its armoury highlighted in clashes with India.
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