Ministry of Finance, Revenue and Economic Affairs

The Ministry of Finance, Revenue & Economic Affairs (Urdu: وزارت خزانہ، محصولات و اقتصادی امور‎) or Ministry of Finance (Urdu: وزارت خزانہ‎, Wazarat-e-khazana, abbreviated as MoF) is a ministry of the Government of Pakistan tasked to ensure a strong Pakistani economy by developing policies of sound economic management and providing expert advice to the government.

Ministry of Finance
وزارت خزانہ
Pakistan Ministry of Finance Logo
Agency overview
FormedAugust 14, 1947
JurisdictionGovernment of Pakistan
HeadquartersBlock Q, Pak Secretariat
Islamabad, ICT, Pakistan. 44000.
Minister responsible
Agency executives
WebsiteOfficial Website

Minister

The Minister of Finance is leading cabinet member who responsible each year for presenting the federal government's budget. It is one of the most important positions in the Cabinet. Because of the prominence and responsibility of this position, it is not uncommon for former Ministers of Finance to be appointed Prime Minister. The current Minister of Finance is Dr. Abdul Hafeez Shaikh. Former Finance Minister was Asad Umer,[1] who resigned on 18 Apr 2019 after mutual consent between himself and Prime Minister Imran Khan.

Divisions

Finance

The Finance Division comes under the supervision of the Secretary of Finance. The division's bureaucracy is divided into several wings and units, which include

  • Human Resource Management Wing: Basic functions include the official business management of the organisation through the provision of effective human resource. The wing also provides logistic support to various other units of the organisation.[2]
  • Budget Wing: Basic functions include the coordination, preparation, printing and publishing of fiscal budgets and related documents for the federal government. The wing is also responsible for the implementation of the budgetary targets and preparing monthly reports thereon.[3]
  • Corporate Finance Wing: Basic functions include looking after the economic, financial, and corporate affairs of all Public Sector Entities (PSEs) that work under the administrative control of various federal ministries and their divisions.[4]
  • Economic Adviser's Wing: Basic functions include the publication of the Economic Survey of Pakistan, both in Urdu and English, prior to the announcement of the federal budget. The budgetary supplement evaluates the overall economic performance of the country based on various economic factors as evident in the preceding fiscal year's data.[5]
  • Expenditure Wing: Basic functions include the revision and finalisation of the federal budget, enforcement of economic measures and disbursements of pension funds.[6]
  • External Finance Wing: Basic functions include the arrangement of financing from international financial institutions for balance of payments and budgetary support. The EF wing also allocates and utilises the foreign exchange and releases and maintains the funds for both civil departments and the armed forces.[7]
  • Economic Reforms Unit: Basic functions include the formulation of development strategies for the private sector and reviewing law, rules and regulations, pertaining to business environment that are obsolete, overlapping and inconsistent or unduly add to the cost of doing business.[9]
  • Military Wing: Basic functions include procurement of all defence equipment for the Ministry of Defence (MoD) and the Ministry of Defence Production (MoDP). The wing also prepares, executes and monitors the budget and expenditure of the armed forces, MoD, MoDP, inter-services organisations and defence production establishments.[10]
  • Development Wing
  • Internal Finance Wing
  • Investment Wing
  • Provincial Finance Wing
  • Regulations Wing

Revenue

The Revenue Division comes under the supervision of the Federal Secretary for Revenue, who is usually the chairman of the Federal Board of Revenue.

Economic Affairs

The Economic Affairs Division comes under the supervision of the Pakistan Secretary of Economic Affairs; and is responsible for assessing, programming and negotiations of external economic assistance concerning the government and its constituent units from foreign governments and multilateral agencies.[11] Among its various functions are the management of external debt, provision of technical assistance to foreign countries, lending and re-lending of foreign loans, and monitoring of aid utilisation.

Departments

See also

References

  1. ^ "Minister's Profile". Ministry of Finance. Government of Pakistan. Archived from the original on 29 October 2016. Retrieved 12 July 2014.
  2. ^ Finance Division 2011, p. 6
  3. ^ Finance Division 2011, p. 11
  4. ^ Finance Division 2011, p. 28
  5. ^ Finance Division 2011, p. 30
  6. ^ Finance Division 2011, p. 32
  7. ^ Finance Department 2011, p. 34
  8. ^ Finance Division 2011, p. 38
  9. ^ Finance Division 2011, p. 47
  10. ^ Finance Division 2011, p. 51
  11. ^ "Overview: Economic Affairs Division". Ministry of Finance, Revenue, Economic Affairs, Statistics and Privitisation. Government of Pakistan. Archived from the original on 24 September 2014. Retrieved 12 July 2014.

External links

Cabinet Secretariat (Pakistan)

The Cabinet Secretariat is a part of the Cabinet of Pakistan, led by the Prime Minister Imran Khan. The administrative head is the Cabinet Secretary of Pakistan. The Secretariat has the following government departments attached under it:

Airports Security Force

Akthar Hameed Khan National Centre for Rural Development

Civil Aviation Authority

Department of Communications Security

Department of Stationary and Forms

Federal Employees Benevolent and Group Insurance Fund

Federal Public Service Commission

Civil Services Academy

Islamabad Police

Islamabad Traffic Police

Management Services Wing

National Archives of Pakistan

National School of Public Policy

Pakistan Academy for Rural Development

Pakistan Bait-ul-Mal

Pakistan International Airlines Corporation

Pakistan Meteorological Department

National Agromet Centre

Pakistan Tourism Development Corporation

Printing Corporation of Pakistan

Public Procurement Regulatory Authority

Secretariat Training Institute

Staff Welfare Organization

List of federal agencies of Pakistan

A list of agencies and departments of the Government of Pakistan

Ministry of Energy (Pakistan)

The Ministry of Energy, Power division is a Pakistan Government's federal and executive level ministry created on 4 August 2017 after merging of the Ministry of Petroleum and Natural Resources with the power division of the Ministry of Water and Power (now renamed Ministry of Water Resources), respectively. The ministry has two division - petroleum and power. The Petroleum Division is headed by the Petroleum Secretary and the Power Division is headed by the Power Secretary. It is currently headed by Omar Ayub Khan as of 11 September 2018.

Ministry of Finance

A ministry of finance is a common type of government department that serves as a finance ministry.

Ministry of Foreign Affairs (Pakistan)

The Ministry of Foreign Affairs (Urdu: وزارت خارجہ‎, Wazarat-e-Kharja, abbreviated as MoFA) is a ministry of the Government of Pakistan tasked in managing Pakistan's diplomatic and consular relations as well as its foreign policy. The MOFA is also responsible for maintaining Pakistani government offices abroad with diplomatic and consular status.

Ministry of Industries and Production (Pakistan)

The Ministry of Industries and Production is headed by the Minister for Industries and Production and Pakistan Secretary of Industries and Production.

Ministry of Inter Provincial Coordination

The Ministry of Inter Provincial Coordination (Urdu: وزارت بین الصوبائی رابطہ‎, abbreviated as MoIPC) is a ministry of the Government of Pakistan. Council of Common Interests or CCI is a constitutional body in Pakistan. The CCI resolves the disputes of power sharing between the federation and provinces.It is currently headed by Fahmida Mirza as of 20th August 2018

Ministry of Kashmir Affairs and Gilgit-Baltistan

The Ministry of Kashmir Affairs & Gilgit Baltistan (Urdu: وزارت امور کشمیر و گلگت بلتستان‎, abbreviated as MoKGB) is a ministry of the Government of Pakistan. The Ministry looks upon affairs of Azad Kashmir and Gilgit Baltistan as both territories of Pakistan administered Kashmir do not enjoy regular provincial status of Pakistan.

Ministry of Law and Justice (Pakistan)

The Ministry of Justice (Urdu: وزارت انصاف‎); abbreviated as MoJ) is a Cabinet-level ministry of Pakistan, responsible and for the enforcement of law and administration of justice.

The ministry's political executive figure is known as the Minister for Law, Justice and Human Rights, who must be an elected legislator and Parliamentarian. The Minister for Justice is associated with enforcing laws and administration of government judicial departments, and is a public face of the government in legal services required by the state. The ministry's administration is headed by the Law Secretary of Pakistan. The ministry is also represented by the Attorney General as the chief law enforcement officer of the federal government, representing it in civilian Supreme Court cases, and assisting the Minister for Justice and the government in legal cases. Both the Minister for Justice and Attorney General are nominated by the Prime Minister of Pakistan, and are members of the Cabinet. It is currently headed by Farogh Naseem as of 20th August 2018.

Ministry of Narcotics Control (Pakistan)

The Ministry of Narcotics Control is a Pakistan Government's federal and executive level ministry created on 4 August 2017 by Shahid Khaqan Abbasi the then Prime Minister of Pakistan). The ministry was created out of the Ministry of Interior and Narcotics Control (now just Ministry of Interior). It's sole agency or unit is the Anti-Narcotics Force.

Ministry of Overseas Pakistanis and Human Resource Development

The Ministry of Overseas Pakistanis and Human Resource Development (Urdu: وزارت بیرون ملک مقیم پاکستانی و انسانی وسائل‎, abbreviated as MoOPHRD) is a ministry of the Government of Pakistan that oversees matters concerning Overseas Pakistanis and human resource development in Pakistan. Pir Syed Sadaruddin Shah Rashidi is the current Federal Minister and Hashim Popalzai is the current Federal Secretary for Overseas Pakistanis and Human Resource Development. The ministry was created in July 2013, from a merger of the Ministry of Overseas Pakistanis and the Ministry of Human Resource Development.

Ministry of Parliamentary Affairs (Pakistan)

The Ministry of Parliamentary Affairs (Urdu: وزارت پارلیمانی امور‎, abbreviated as MoPA) is a ministry of the Government of Pakistan.

It is tasked with handling affairs relating to the Parliament of Pakistan, and works as a link between the two chambers, the National Assembly (the lower house) and the Senate (the upper house).

Ministry of Postal Services (Pakistan)

The Ministry of Postal Services is a Pakistan Government's federal and executive level ministry created on 4 August 2017 by Shahid Khaqan Abbasi. The Ministry is responsible for Pakistan Post.

Ministry of Privatisation (Pakistan)

The Ministry of Privatisation is a Pakistan Government's federal and executive level ministry created on 4 August 2017 by Shahid Khaqan Abbasi. The ministry was created by separating the privatisation division from the Ministry of Finance, Revenue, Economic Affairs, Statistics and Privatisation (now Ministry of Finance, Revenue and Economic Affairs).

Ministry of Religious Affairs and Inter-faith Harmony (Pakistan)

The Ministry of Religious Affairs (Urdu: وزارت مذہبی امور‎, abbreviated as MoRA) is a government agency of Pakistan responsible for religious matters such as pilgrimage outside Pakistan, especially to India for Ziyarat and Saudi Arabia for Umrah and Hajj. It is also responsible for the welfare and safety of pilgrims. The agency has its headquarters in Islamabad. The current Federal Minister of Religious Affairs is Noor-ul-Haq Qadri. The ministry is composed of several subordinate bodies including the Directorate of Hajj, the Council of Islamic Ideology, and the Madrassah Education Board.

Ministry of Science and Technology (Pakistan)

The Ministry of Science and Technology (Urdu: وزارت سائنس و ٹیکنالوجی‎, abbreviated as MoST) is a Cabinet-level ministry of the Government of Pakistan concerned with science and technology in Pakistan and in general, Pakistan's science policy, planning, co-ordination and directing of efforts to initiate and launch scientific and technological programs as well as projects aimed at economic development. The ministry is coordinated by the Federal Minister for Science and Technology who is currently Fawad Chaudhry and is headquartered in Islamabad.

Ministry of States and Frontier Regions (Pakistan)

The Ministry of States and Frontier Regions (Urdu: وزارتِ ریاستی و سرحدی امور‎, abbreviated as SAFRON) is a federal ministry in Pakistan. The ministry will be headed by Shehryar Khan Afridi who was previously the Minister of State for Interior after the Prime Minister reshuffled his cabinet on 18 April 2019.The main responsibilities of the ministry are to deal with issue of tribal areas of Pakistan Frontier Regions of Pakistan and Federally Administered Tribal Areas

Ministry of Statistics (Pakistan)

The Ministry of Statistics is a Pakistan Government's federal and executive level ministry created on 4 August 2017 by Shahid Khaqan Abbasi. The ministry was created out of Ministry of Ministry of Finance, Revenue, Economic Affairs, Statistics and Privatisation (now just Ministry of Finance, Revenue and Economic Affairs).

Pakistan Secretary of Economic Affairs

The Economic Affairs Secretary of Pakistan , also referred to as Secretary EAD, is the Federal Secretary for the Economic Affairs Division. The position of Secretary EAD is considered to be one of the lucrative slots in the federal government. The position holder is a BPS-22 grade officer, usually belonging to the Pakistan Administrative Service. The Secretary heads the EAD, which is the window to deal with external lenders, and plays a key role in assessing and negotiating external economic assistance concerning the Government of Pakistan and its constituent units from foreign governments and multilateral agencies. The current Secretary EAD is Ghazanfar Jillani.Other functions of the Division headed by Secretary EAD includes management of external debt, provision of technical assistance to foreign countries, lending and re-lending of foreign loans, and monitoring of aid utilisation.

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