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Peru Seeks to Double Armed Forces Pay Over Five Years

March 22 (Bloomberg) -- Peru’s government is preparing legislation that seeks to double pay for the armed forces within five years, Defense Minister Alberto Otarola said.

The increases would be spread out over four or five years and will add a total 6 billion soles ($2.25 billion) to the ministry’s budget, Otarola said in an e-mailed statement today.

The bill, which seeks to correct a “historic distortion” in compensation for the armed forces, will be sent to Congress by May, he said.

To contact the reporter on this story: John Quigley in Lima at jquigley8@bloomberg.net

To contact the editor responsible for this story: Joshua Goodman at jgoodman19@bloomberg.net

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