Ministry of Finance, Revenue, Economic Affairs, Statistics and Privatization (Pakistan)

Ministry of Finance
Agency overview
وزارت مالیات
Seal of Government of Pakistan
Formed	August 14, 1947 (1947-08-14)
Jurisdiction	Federal Government of Pakistan
Headquarters	Islamabad, ICT, Pakistan
Agency executives	Ishaq Dar, Minister Waqar Masood Khan, Secretary
Website	Official Website

The Ministry of Finance (Urdu:وزارت مالیات) (also called Ministry of Finance, Revenue, Economic Affairs, Statistics and Privatisation) is a cabinet-level department of the Government of Pakistan which was formed on 15 August 1947. The ministry is primarily concerned with promoting economic growth and activities throughout Pakistan.

The executive and political head of authority at the ministry is the Minister of Finance who must be an elected member of the Parliament of Pakistan. The current Minister of Finance is Mohammad Ishaq Dar.^[1]

Organisational divisions

Finance

The Finance Division (FD) is the most elite bureaucratic division under the Finance Ministry's purview. The FD comes under the supervision of the Secretary of Finance, an office held by Dr Waqar Masood Khan as of 2014.

The division's bureaucracy is divided into several wings and units as listed below:

Human Resource Management (HRM) 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 (EA) 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 (EF) 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]
External Finance Policy (EFP) Wing: Basic functions include the compilation of the Pakistan government's principal policy for macroeconomic governance and poverty reduction. The EFP wing also deals with multilateral and bilateral institutions like the World Bank, Department for International Development (DFID), Citizens Damage Compensation Programme (CDCP), SAARC Development Fund (SDF), ECO Trade and Development Bank, United Nations Development Programme (UNDP), Strengthening Poverty Reduction Strategy Monitoring Project (SPRSMP), Pakistan One UN Programme and the Joint Ministerial Commissions (JMCs/JECs).^[8]
Economic Reforms Unit (ERU): 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

The FD also delegates its functions to specialised sub-departments within the division, which include the following:

Office of the Auditor General (AG)
Office of the Controller General of Accounts (CGA)
Central Directorate of National Savings (CDNS)
Debt Policy Coordination Office (DPCO)
Pakistan Mint
Federal Treasury Offices

Revenue

This division is headed by Secretary, Revenue Division; who usually is an ex officio Chairman of the Federal Board of Revenue (the supreme tax agency). This division (Federal Board of Revenue) is responsible for: (i) formulation and administration of fiscal policies, (ii) levy and collection of federal taxes and (iii) quasi-judicial function of hearing of appeals. 34878798909-

Economic Affairs Divisions The Economic Affairs Division (EAD) is responsible for requirement assessment, programming and negotiations of external economic assistance concerning the Government of Pakistan and its constituent units from foreign governments and multilateral agencies.^[11] Amongst 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. The EAD has thirteen wings and comes under the supervision of the Secretary of Economic Affairs, an office held by Muhammad Saleem Sethi as of 2014.

Statistics Division

The Statistics Division includes these departments:

Federal Bureau of Statistics, headquartered in Islamabad
Population Census Organization, headquartered in Islamabad
Agricultural Census Organization, headquartered in Lahore

Former divisions

Planning and Development

Includes these semi-autonomous organizations:

National Fertilizer Development Centre
National Logistics Cell
Pakistan Institute of Development Economics
Pakistan Planning and Management Institute

Citations

↑ "Minister's Profile". Ministry of Finance. Government of Pakistan. Retrieved 12 July 2014.
↑ Finance Division 2011, p. 6
↑ Finance Division 2011, p. 11
↑ Finance Division 2011, p. 28
↑ Finance Division 2011, p. 30
↑ Finance Division 2011, p. 32
↑ Finance Department 2011, p. 34
↑ Finance Division 2011, p. 38
↑ Finance Division 2011, p. 47
↑ Finance Division 2011, p. 51
↑ "Overview: Economic Affairs Division". Ministry of Finance, Revenue, Economic Affairs, Statistics and Privitisation. Government of Pakistan. Retrieved 12 July 2014.

References

Finance Division (2011). Year Book 2010–2011 (PDF). Islamabad: Government of Pakistan.

External links

Economy of Pakistan

History	Numbering system Five-Year Plans Nationalization Privatization Corporatization Fauji Foundation Islamic economization Economic liberalization Medium Term Development Framework Periods of stagflation

Banking and finance	Banking (List of banks) Pakistan Remittance Initiative

Communications	Currency Mailing Postal codes Postage stamps Telecommunications Dialing codes Internet Mobile network operators Telephone numbers Pakistan Remote Sensing Satellite

Transportation	Airlines Airports Bridges Motorways National highways Railways Railway stations Ports Vehicle plates

Industry	Aerospace Agriculture Fishery Livestock Rice production Tea Defence Automotive Books and publishing Cottage and small scale Forestry Information technology Insurance Mining Media Cinema Television Music Pharmaceuticals Real estate Textiles (Carpets and rugs) Silk Tourism Medical tourism

Infrastructure	Buildings Education Schools Universities Healthcare AIDS Hospitals Housing Poverty Science and technology Water supply and sanitation (Dams) Water resources management

Energy	Electricity Fuel extraction Nuclear power Policy Power companies Power stations Renewable energy Solar power Wind power

Taxation	Federal Board of Revenue Tax on cash withdrawal

Institutions	Companies Islamabad / Karachi / Lahore stock exchanges Ministry of Commerce (Ministers) Ministry of Finance (Ministers) National Bank of Pakistan Planning Commission Research institutes Securities and Exchange Commission State Bank of Pakistan (Governors)

Society	Billionaires Businesspeople Demographics Labour force (Child labour) Public holidays Urbanisation Pensions

Domestic economies	Azad Kashmir Balochistan FATA Gilgit-Baltistan Islamabad Khyber Pakhtunkhwa Punjab Faisalabad Lahore Rawalpindi Sindh (Karachi)

See also	Central business districts Foreign aid Foreign trade International ranking Investment in Pakistan Sister cities Provinces by GDP Pakistanis by net worth Politicians Standard of living

Category

Cabinet of the Government of Pakistan

Cabinet Secretariat and Ministries

Cabinet Secretariat
Commerce and Textile Industry
Communications
Defence
Defence Production
Federal Education and Professional Training
Finance, Revenue, Economic Affairs, Statistics and Privatization
Foreign Affairs
Housing and Works
Industries and Production
Information Technology and Telecommunication
Information, Broadcasting, and National Heritage
Inter-Provincial Coordination
Interior and Narcotics Control
Kashmir Affairs and Gilgit Baltistan
Law, Justice, and Human Rights
National Food Security and Research
National Health Services Regulation and Coordination
Overseas Pakistanis and Human Resource Development
Parliamentary Affairs
Petroleum and Natural Resources
Planning and Development
Ports and Shipping
Railways
Religious Affairs and Inter-faith Harmony
Science and Technology
States and Frontier Regions
Water and Power

Independent Departments

Inactive Portfolios

Deputy Prime Minister

This article is issued from Wikipedia - version of the Saturday, January 09, 2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.