Pakistan Boosts Defense Budget Amid Regional Tensions

Prime Minister Shehbaz Sharif announced an increased defense budget to strengthen Pakistan's armed forces amid regional tensions with India. The fiscal space was expanded to allocate PKR 2,550 billion for defense in 2025-26. Sharif addressed tax issues with the IMF and condemned Israeli aggression against Iran.

In a strategic move reflecting rising regional tensions, Prime Minister Shehbaz Sharif's administration has increased Pakistan's defense budget by 20% to PKR 2,550 billion for the fiscal year 2025-26, trailing only spending on debt servicing.

Sharif confirmed in a Cabinet meeting that this budget increase aims to bolster the nation's armed forces with essential equipment. Additionally, the government discussed agricultural tax issues with the International Monetary Fund, successfully negotiating against new taxes on fertilizers and pesticides.

The Prime Minister also addressed international concerns, condemning Israeli actions against Iran and labeling the Middle Eastern conflict a threat to global peace. He urged the international community to intervene for a ceasefire.

(With inputs from agencies.)