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Govt proposes significant increase in budget for defense advancement

The federal government under Prime Minister Shehbaz Sharif has proposed a substantial allocation of Rs5.63 billion for the Ministry of Defence’s development projects in the forthcoming Budget 2024-25.

This allocation encompasses 29 key projects, demonstrating the government’s dedication to enhancing military infrastructure and technology.

According to the budget document, Rs3.92 billion has been designated for nine ongoing projects within the Ministry of Defence, crucial for maintaining and enhancing existing defense systems and infrastructure.

Additionally, Rs1.7 billion is allocated for twenty new schemes aimed at addressing emerging security challenges and bolstering the country’s defense readiness. Notably, Rs400 million is allocated for drone procurement, emphasizing the government’s emphasis on modernizing defense tools and technologies.

Furthermore, the budget proposes Rs50 million for the construction of a Research and Regional Center in Islamabad, expected to serve as a hub for advanced defense research and development.

An allocation of Rs38 million is earmarked for the construction of FG Junior Public Schools in strategic areas like Gwadar and Gilgit, highlighting efforts to improve educational infrastructure. Additionally, Rs300 million will be spent on an Academy Block at the National University of Pakistan in Islamabad, enhancing educational facilities for defense personnel.

Another significant allocation is Rs620 million for land acquisition for a Medical City, aimed at improving healthcare services for defense personnel and their families.

Moreover, Rs860 million is set aside for the National Aerospace Science and Technology Pak Aviation City in Pakistan.

In parallel, the federal government has finalized a comprehensive five-year economic plan 2024-2029 to achieve major economic goals, to be submitted to the National Economic Council for approval.

This plan encompasses various sectors and aims to provide a structured approach to economic development and tackle critical challenges facing the nation.

Approval of this plan signifies a significant step towards structured economic planning and sustainable growth, setting the stage for a new era of economic development in Pakistan.

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