PAKISTAN To Invest Whooping $48.5 Billion On Defense Sector During 2020-2024:
PAKISTAN is expected to spend $48.5 Billion in its military spending and defense sector in the coming years from 2020-2024 in order to counter the regional and internal threats, a recent report suggests.
As per the reports published by “PAKISTANI Defense Market – Attractiveness, Competitive Landscape and Forecasts to 2024,” PAKISTAN is all set to increase its defense spending up to $48.5 Billion on its defense sector during the year of 2020-2024.
The sudden increase in PAKISTAN Defense Expenditure aims to bolster its defense and offense capabilities against its filthy arch rival, india and to counter the foreign funded internal threats in the country.
As per the report, PAKISTAN has spent an average amount of $6-7 Billion per annum during the past 4 years from 2015-2019, which collectively makes US $42.3 Billion.
The meager economic condition forced PAKISTAN to slash its Defense Expenditure from US $9.4 Billion to US $7.8 Billion in 2018. PAKISTAN has invested US $7.6 Billion in its Defense Sector in 2015 and this amount rose to US $7.8 Billion in the year of 2019.
During the past 4 years from 2015-2019, the share of Capital Expenditure of overall defense expenditure remained at 36.8% of the Total Defense Budget of the Country, while the revenue expenditure of the country allocated at $63.2%.
On the other hand, as PAKISTAN has decided to spend US $48.5 Billion on its Defense Expenditure, so the Capital Expenditure would be rose up to 37.8% of the Total Defense Expenditure, while 62.2% budget would be allocated for revenue expenditure.
The PAKISTAN Ministry of DEFENSE is expected to invest in the indigenously manufacturing of Multi Role Combat Aircrafts, Diesel Electric Submarines, Attack Helicopters, Land Based C4ISR, C4ISR, Corvettes, Frigates, Ships and Main Battle Tanks (MBTs).
The findings of the report further suggest that PAKISTANI Export Market will set to gradually grow over the next four years from 2020-2024 due to its in high-quality indigenous defense systems.
PAKISTAN DEFENSE INDIGENIZATION PROGRAM:
PAKISTAN AIR FORCE (PAF):
In a bid to support the policy of Self Reliance in the Defense Sector, the First maiden flight of JF-17 Thunder Block-3 has already taken place back in December, 2019 and PAKISTAN Aeronautical Complex Kamra (PAC) and Chengdu Aerospace Corporation (CAC) have also finalized to install the CHINESE KLJ-7A Active Electronically Scanned Array (AESA) Radar in the Block-3 Variant of the JF-17 Thunder.
PAKISTAN NAVY (PN):
PAKISTAN NAVY is also making rapid advancement in the indigenously manufacturing of state of the art Diesel Electric Submarines, Frigates, Ships, Pull Pusher Tugs, Fast Attack Missile Crafts in the country. Details of these indigenous mega projects are as follows:
Type 041 Yuan-Class Diesel Fast Attack Submarines Under Transfer of Technology Agreement From CHINA:
Back in October 2016, CHINA has also confirmed the export order of 8 numbers of Type 041 Yuan-Class Attack Diesel Submarines PAKISTAN. According to the contract, PAKISTAN NAVY will get the first four fast Attack Diesel Submarines built by the CHINA Shipbuilding Trading Company (CSTC) by the end of 2023.
One the other hand, the remaining four Type 041 Yuan-Class Submarines would be built in PAKISTAN at Karachi Shipyard & Engineering Works (KSEW) and the deliveries of the four submarines expected to be completed by the end of year 2028. It is important to mention that all the Diesel Electric Submarines would be equipped with the Air Independent Propulsion (AIP) systems.
MILGEM Class Corvettes Under Transfer of Technology Agreement From TURKEY:
It is pertinent to mention that PAKISTAN NAVY has already ordered the four numbers of the MILGEM Class Corvette from its Brotherly Country TURKEY under the Complete Transfer of Technology (ToT) and Transfer of Intellectual Property Rights Agreement back in July, 2018.
According to the contract details, first two MILGEM Class Corvettes would be built in TURKEY at Istanbul Shipyard and PAKISTAN NAVY is expected to receive the delivery in late 2023. While the other two MILGEM Class Corvettes would be built in PAKISTAN at Karachi Shipyard & Engineering Works (KS&EW).
It is important to mention that the fourth MILGEM Class Corvettes scheduled to be built at Karachi Shipyard & Engineering Works (KS&EW) would be the “first indigenously designed and constructed frigate and it would be named as JINNAH-Class Frigate.”
DAMEN Multipurpose Offshore Patrol Vessel/Corvettes Under Transfer of Technology Agreement from Romania:
Back in 2017, PAKISTAN NAVY signed a deal with the Romania based DAMEN Shipyards for the construction of 2 numbers of Multipurpose Offshore Patrol Vessel (OPVs) under the Transfer of Technology agreement.
Marine Assault Boats (MABs) Under Transfer of Technology Agreement From Poland:
Back in 2018, PAKISTAN NAVY has ordered the construction of 2 12-Tons Displacement Marine Assault Boats (MABs) from the Polish Shipbuilding Company Techno Marine under the Transfer of Technology Agreement.
We are sorry that this post was not useful for you!
Let us improve this post!
Tell us how we can improve this post?