Pakistan decided to freeze, reduce defence budget

Islamabad, June 10 PPI: Pakistan's Prime Minister Yousuf Raza Gilani in policy statement in National Assembly (Parliament) Monday announced that as ``a measure of our tangible display to seek peace with our neighbours, we have decided to freeze, actually reduce defence budget when seen in context of inflation and Rupee-dollar parity. ``We hope to see a reciprocal gesture from our neighbour for the sake of peace and prosperity of the region,'' he said. ``Pakistan is located in a geo strategically important but a turbulent region. We live and operate in a volatile environment. We cannot, therefore, afford to remain oblivious to our defence needs.'' Gilani categorically stated that Pakistan stands for peace with honour. ``We shall continue to strive for it without compromising on our national interests. As a matter of policy, I declare that our defence is based on the strategy of minimum essential credible deterrence and that we shall not enter into any arms race.'' Prime Minister said presently budget of three Services, Ordnance factories and others is presented as a one line allocation. It is not approved separately but in a consolidated form for all Defence services. After approval of budget, Ministry of Defence apportions allocation to the three Services and other Defence organizations. '`My government has now decided to present Defence Budget estimates in a format reflecting the estimated expenditure under major Heads in the parliament. I am pleased to inform you that Ministry of Defence and Chief of Army Staff have fully endorsed revised format of Defence Services budget estimates,'' he stated. -ENDS PPI.