AIRLINK 74.60 Increased By ▲ 0.35 (0.47%)
BOP 5.05 No Change ▼ 0.00 (0%)
CNERGY 4.43 Increased By ▲ 0.01 (0.23%)
DFML 37.59 Increased By ▲ 1.75 (4.88%)
DGKC 90.90 Increased By ▲ 2.90 (3.3%)
FCCL 22.59 Increased By ▲ 0.39 (1.76%)
FFBL 32.80 Increased By ▲ 0.08 (0.24%)
FFL 9.73 Decreased By ▼ -0.06 (-0.61%)
GGL 10.94 Increased By ▲ 0.14 (1.3%)
HBL 115.87 Decreased By ▼ -0.03 (-0.03%)
HUBC 136.30 Increased By ▲ 0.46 (0.34%)
HUMNL 10.06 Increased By ▲ 0.22 (2.24%)
KEL 4.61 No Change ▼ 0.00 (0%)
KOSM 4.79 Increased By ▲ 0.13 (2.79%)
MLCF 40.45 Increased By ▲ 0.57 (1.43%)
OGDC 137.75 Decreased By ▼ -0.15 (-0.11%)
PAEL 26.60 Increased By ▲ 0.17 (0.64%)
PIAA 25.65 Decreased By ▼ -0.63 (-2.4%)
PIBTL 6.77 Increased By ▲ 0.01 (0.15%)
PPL 123.21 Increased By ▲ 0.31 (0.25%)
PRL 26.84 Increased By ▲ 0.15 (0.56%)
PTC 13.91 Decreased By ▼ -0.09 (-0.64%)
SEARL 58.96 Increased By ▲ 0.26 (0.44%)
SNGP 70.00 Decreased By ▼ -0.40 (-0.57%)
SSGC 10.42 Increased By ▲ 0.06 (0.58%)
TELE 8.57 Increased By ▲ 0.01 (0.12%)
TPLP 11.20 Decreased By ▼ -0.18 (-1.58%)
TRG 64.52 Increased By ▲ 0.29 (0.45%)
UNITY 26.41 Increased By ▲ 0.36 (1.38%)
WTL 1.38 No Change ▼ 0.00 (0%)
BR100 7,845 Increased By 7.2 (0.09%)
BR30 25,552 Increased By 92.6 (0.36%)
KSE100 75,067 Increased By 136.7 (0.18%)
KSE30 24,140 Decreased By -6.1 (-0.03%)

BERLIN: Germany got the go-ahead to buy F-35 fighter jets produced by U.S. defence giant Lockheed Martin as part of military procurement projects worth 13 billion euros ($13.85 billion), Defence Minister Christine Lambrecht said on Wednesday.

The German parliament’s budget committee approved the spending, including 10 billion euros for the F-35 jets as well as funds for the purchase of encrypted digital radios and assault rifles.

These projects are among the first to tap money from a 100 billion euro ($106 billion) special fund that Chancellor Olaf Scholz announced in a major policy shift days after Russia’s invasion of Ukraine in February.

The money is meant to bring the German military’s weapons and equipment back up to standard after decades of attrition following the end of the Cold War. Of the 100-billion-euro fund for the armed forces, Lambrecht said: “This will probably not be enough to close the gaps that emerged over the past years because we neglected procurement.”

Comments

Comments are closed.