Islamabad, Oct 25: Rejecting IMF condition that Pakistan should cut down on its defence budget by 30 percent, the country’s Defence Minister Ahmad Mukhtar has said that the defence sector was already facing a “financial crunch” because of the devaluation of Pak rupee against the US dollar. And, hence, there was not a possibility of cutting down on the defence budget.
Terming the IMF’s condition as “mere hearsay” at this stage, he insisted Pakistan “had not even applied for the fund’s assistance”.
He said Pakistan had yet to apply for the IMF bailout package which, according to him, would be the last option for the government to avail.