ISLAMABAD, Pakistan, June 7 (UPI) -- Pakistan's government has increased its defense budget by 12 percent for fiscal year 2006-2007.
The Nation reported on June 6 that Pakistan's defense budget is $4.165 billion for fiscal year 2006-2007. Last year, the Pakistani defense budget was $3.723 billion.
Finance Minister Omar Ayub Khan announced the national budget on Monday afternoon.
Military expenditures were severely distorted by the military's response to the Oct. 8, 2005, earthquake. The tremor, which measured 7.6 on the Richter scale, killed more than 73,000 people. Pakistani officials estimate that the afflicted regions might take up to a decade to recover.
Defense Minister Rao Sikandar Iqbal said that the defense budget increase was nominal when compared with country's actual defense requirements, commenting "most of the increase will be used to modernize the weaponry, including early warning system for Air Force and frigates for Navy."
Senate and National Assembly opposition members are once more demanding that the defense budget be subject to Parliamentary oversight.
