Pakistan has decided to provide Rs 45 billion to its armed forces with an aim to protect Chinese commercial interests in the country.
The additional budget would also be used to manage Pakistan’s fencing along international borders.
The decision was taken at a Cabinet meeting of the Economic Coordination Committee, reports said, adding that it was chaired by Finance Minister Muhammad Aurangzeb.
An amount of Rs 35.4 billion will be given to the military and Rs 9.5 billion to the navy for various purposes, out of the total budget of Rs 45 billion, they said.
The government considered and approved a proposal submitted by the Defense Division for a technical supplementary grant for the already approved projects of defense services.
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Notably, it is the second major supplementary grant approved for the armed forces in Pakistan after the approval of the budget in June.
In view of the increasing number of terror attacks, China had been demanded that an agreement on anti-terrorism cooperation must be signed to address security concerns for its people working in Pakistan.
China, according to the reports, had also asked the establishment of a joint company to ensure security its citizens working in Pakistan.
Launched in 2015 as part of China’s Belt and Road Initiative, the China-Pakistan Economic Corridor (CPEC) is a major infrastructure project in Pakistan, and a number of Chinese, engaged with the project, have been staying in Pakistan.
The CPEC aims to enhance economic connectivity between China and Pakistan by developing a network of roads, railways, and other related projects.
