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Defence ministry seeks more funds to fight inflation

HAIDER

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Defence ministry seeks more funds to fight inflation

Khaleeq Kiani Published December 2, 2022 Updated 21 minutes ago




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<p>Defence Secretary Lt Gen (Retd) Hamood Uz Zaman Khan calls on Finance Minister Ishaq Dar at Finance Division in Islamabad on December 1, 2022. — Photo courtesy PID</p>

Defence Secretary Lt Gen (Retd) Hamood Uz Zaman Khan calls on Finance Minister Ishaq Dar at Finance Division in Islamabad on December 1, 2022. — Photo courtesy PID
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ISLAMABAD: Days after the change of command in the armed forces, the Ministry of Defence has sought additional funds from the federal budget to cope with the impact of rising fuel cost and overall inflation.
The demand was put forth by Defence Secretary retired Lt Gen Hamood-uz-Zaman Khan during a meeting with Finance Minister Ishaq Dar on Thursday.
“Defence and economic issues together with security-related budgetary matters were discussed during the meeting,” said a statement issued by the Ministry of Finance.
The development comes only a month after the Economic Coordination Committee of the cabinet approved a Rs31 billion supplementary grant for the defence ministry, on Oct 28.
In October, ECC approved Rs31bn supplemantary grant for General Headquarters
Informed sources said the defence team told the finance minister that it had already been following strict austerity measures but inflation, particularly POL expenses, was putting an additional pressure, thus causing a financial shortfall. According to them, there was little room within the allocated funds to meet the additional financing requirements.
The statement quoted Mr Dar as highlighting the economic outlook and fiscal position of the country and various measures taken by the government to stabilise the economy. He said the results of these measures would soon be reflected in the strengthened fiscal position and enhanced economic activities.
Prime Minister’s Special Assistants on Finance and Revenue Tariq Bajwa and Tariq Mehmood Pasha, special secretary finance and senior officers from the finance and defence divisions attended the meeting.
The government is currently facing almost Rs1 trillion slippages on fiscal account, chiefly because of increase in interest payments amid devaluation and higher interest rates, besides flood-related expenditures. The finance ministry is already struggling to convince the International Monetary Fund (IMF) to complete the 9th review of its $7bn ongoing programme.



The Fund wants more taxes and tight expenditure controls to ensure tax-to-GDP ratios committed under the programme structure before it clears disbursement of $1.18bn tranche that was due early last month.
The government has decided to slash down the country’s development budget by more than half to Rs350bn from the budget allocation of about Rs800bn for the current fiscal year.
The defence secretary thanked the minister for his cooperation, according to the statement.
Published in Dawn, December 2nd, 2022
 

Signalian

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Bajwa didn't opt for more military budget, yet Army managed to raise 2 divisions, induct a new type of MBT and bought surplus M-113s along with opening new military institutes.
 

Maula Jatt

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Bajwa didn't opt for more military budget, yet Army managed to raise 2 divisions, induct a new type of MBT and bought surplus M-113s along with opening new military institutes.
Cause they offer fajar ki namaz

giving mob justice to 50% of the Namazi Paitoo generals is going to turn us into a 2nd world country at least
 
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Fasbre2

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Should instead reduce funds and cut down army numbers. Poor soldiers used as cannon fodder. Instead make it more lean and mean. Spend funds on education and bring in educated people to further evolve army into a modern army..
 

Baburfromsarmarkand

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on paper we are a larger more powerful military than Iran, UK, France, Germany, South Korea, Japan, Saudi Arabia.
We have larger standing army than all of these. Like Iraq in 1992.
 

Signalian

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Baithak news 😄

Should instead reduce funds and cut down army numbers. Poor soldiers used as cannon fodder. Instead make it more lean and mean. Spend funds on education and bring in educated people to further evolve army into a modern army..
Modern equipment requires more funds.
 

Goenitz

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What can Ishaq Dar do.. We have 5-6 billion $ put by friendly states.. the rest 1 billion something is our actual reserves. Have you heard about no import for medicine? Anyway, all wise Bajwa brought him in airforce 1.
ISI must be proud for this accomplishment.
 
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Money needed for more plots and, distribution to families of Bajwa
How many more cases exist , where family has grown wealth by factor of 60 Million Dollar in 2-3 years?

Plot and property attain dirty cheap or free then sold for Multi Crore and wealth accumulated

Then Bajwa claims the 62 Million is answerable by his family members does not fall under his account


62 Million means at least 466 plots or properties must have been bought and sold at high rates to accumulate such wealth

If Calculated at rate of 3 Crore per property/plot
1 Property in Pakistan - 3 Crore Average 133,000 usd


More Golf Courses in post Islamabad area and swimming pools and more servants to cook food
Living in most luxurious place with all Amenities

Who ordered Kidnapping of Senetor Swati Again? After Bajwa left to count his 62 million penny by penny



PS: Since when does Ministry of Defence control Finaical matter of Nation what an idiotic claim
 
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nangyale

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The Army should be taught to live within the means this squeezed country can afford.
To begin with the Fauji and Askari enterprises needs to be privatised to pay for the dire economic situation of Pakistan.
 

Enigma SIG

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So all those "investments" by the military aren't working? Why don't sell myriad businesses and raise money?
 

Goenitz

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some more feathers in the cap. Ishaq has abstained Pak telecoms to pay 33 million $ to Google. Result: Google sorted him out
1670068623504.png
 

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