AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 129.06 Decreased By ▼ -0.47 (-0.36%)
BOP 6.75 Increased By ▲ 0.07 (1.05%)
CNERGY 4.49 Decreased By ▼ -0.14 (-3.02%)
DCL 8.55 Decreased By ▼ -0.39 (-4.36%)
DFML 40.82 Decreased By ▼ -0.87 (-2.09%)
DGKC 80.96 Decreased By ▼ -2.81 (-3.35%)
FCCL 32.77 No Change ▼ 0.00 (0%)
FFBL 74.43 Decreased By ▼ -1.04 (-1.38%)
FFL 11.74 Increased By ▲ 0.27 (2.35%)
HUBC 109.58 Decreased By ▼ -0.97 (-0.88%)
HUMNL 13.75 Decreased By ▼ -0.81 (-5.56%)
KEL 5.31 Decreased By ▼ -0.08 (-1.48%)
KOSM 7.72 Decreased By ▼ -0.68 (-8.1%)
MLCF 38.60 Decreased By ▼ -1.19 (-2.99%)
NBP 63.51 Increased By ▲ 3.22 (5.34%)
OGDC 194.69 Decreased By ▼ -4.97 (-2.49%)
PAEL 25.71 Decreased By ▼ -0.94 (-3.53%)
PIBTL 7.39 Decreased By ▼ -0.27 (-3.52%)
PPL 155.45 Decreased By ▼ -2.47 (-1.56%)
PRL 25.79 Decreased By ▼ -0.94 (-3.52%)
PTC 17.50 Decreased By ▼ -0.96 (-5.2%)
SEARL 78.65 Decreased By ▼ -3.79 (-4.6%)
TELE 7.86 Decreased By ▼ -0.45 (-5.42%)
TOMCL 33.73 Decreased By ▼ -0.78 (-2.26%)
TPLP 8.40 Decreased By ▼ -0.66 (-7.28%)
TREET 16.27 Decreased By ▼ -1.20 (-6.87%)
TRG 58.22 Decreased By ▼ -3.10 (-5.06%)
UNITY 27.49 Increased By ▲ 0.06 (0.22%)
WTL 1.39 Increased By ▲ 0.01 (0.72%)
BR100 10,445 Increased By 38.5 (0.37%)
BR30 31,189 Decreased By -523.9 (-1.65%)
KSE100 97,798 Increased By 469.8 (0.48%)
KSE30 30,481 Increased By 288.3 (0.95%)

The US Senate late on Wednesday overwhelmingly approved a $612.5 billion defence spending bill for fiscal 2009, including $70 billion for operations in Iraq and Afghanistan. As passed on an 88-8 vote, the measure would authorise $103.9 billion for Pentagon procurement, $1.2 billion more than President George W. Bush's request.
Overall, Bush had asked for $611.1 billion for national defence. The bill shifts more of the costs of Iraq's reconstruction onto Baghdad. It also puts further restrictions on contractors working in Iraq, including prohibitions on interrogations and the performance of "inherently governmental functions" in combat. The measure must now be reconciled with the $612.5 billion version passed by the House of Representatives on May 22.
The Senate bill would let the Pentagon spend $70 billion in Iraq and Afghanistan in the fiscal year that starts October 1 and authorise a 3.9 percent pay raise for military personnel, half a percentage point more than sought by Bush. House and Senate negotiators are due to meet next week on a compromise version that can be sent to Bush for signing into law. Among sticking points is the Boeing Co-led Future Combat Systems, the centrepiece of Army modernisation.
The House cut $200 million from the $3.6 billion requested to continue development of a $160 billion system of digitally linked vehicles for air and ground combat. The Senate approved without major change the Bush administration request for Future Combat Systems. SAIC Inc is Boeing's co-lead manager on the FCS programme. The Senate bill would authorise $8.9 billion for Missile Defence Agency programs, $411.8 million less than Bush's request.

Copyright Reuters, 2008

Comments

Comments are closed.