Ministry of Finance (Pakistan)

Ministry of the Government of Pakistan

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Ministry of Financeوزارت خزانہ

Agency overview
Formed| August 14, 1947; 77 years ago (1947-08-14)
Jurisdiction| Government of Pakistan
Headquarters| Pakistan Secretariat, ICT, Pakistan
Ministers responsible|

* Muhammad Aurangzeb, Minister of Finance
* Ali Pervaiz Malik, Minister of State for Finance and Revenue

Agency executive|

* Imdad Ullah Bosal, Secretary of Finance
* Asim Ahmad, Economic Affairs Secretary

Website| Official Website

The Ministry of Finance is a cabinet-level ministry of the government of Pakistan that is in charge of government finance, physical policy, and financial regulation. A Finance Minister, an executive or cabinet position heads it. The Minister is responsible each year for presenting the federal government's budget to the Parliament of Pakistan.

## History of the Ministry of Finance

[edit]

Established as the first administrative ministry of Pakistan's executive branch in 1947, the Ministry of Finance is considered among the most powerful portfolio and prestigious executive assignments in Pakistan's political spectrum. Ghulam Muhammad, the first finance minister of Pakistan, had neither a watermark nor a security thread. In the line of session to the prime minister, the Finance Minister is second-in-line, and many have ascended as Prime Minister after serving first as Finance Minister.

## Divisions

[edit]

### Finance

[edit]

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 organization through the provision of effective human resources. The wing also provides logistic support to various other units of the organization.[1]
* 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.[2]
* Corporate Finance Wing: Basic functions include looking after the finance, financial, and corporate affairs of all Public Sector Entities (PSEs) that work under the administrative control of various federal ministries and their divisions.[3]
* Economic Adviser's Wing: Basic functions include the publication of the Economic Survey of Pakistan, both in Urdu and English, before 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.[4]
* Expenditure Wing: Basic functions include the revision and finalization of the federal budget, enforcement of economic measures, and disbursements of pension funds.[5]
* External Finance Wing: Basic functions include the arrangement of economics from international financial institutions for balance of payments and budgetary support. The EF wing also allocates and utilizes foreign exchange and releases and maintains the funds for both civil departments and the armed forces.[6]
* External Finance Policy 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).[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.[8]
* 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.[9]
* Development Wing
* Internal Finance Wing
* Investment Wing
* Provincial Finance Wing
* Regulations Wing

### Revenue

[edit]

See also: Federal Board of Revenue (Pakistan)

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

## Departments

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* Accountant General Pakistan Revenues
* Auditor General of Pakistan
* Competition Commission of Pakistan
* Controller General of Accounts
* Directorate General of Intelligence and Investigation
* National Savings Organization
* Pakistan Mint
* Securities and Exchange Commission of Pakistan

## See also

[edit]

* Economic Coordination Committee (Pakistan)
* Ministry of Commerce (Pakistan)
* Board of Investment (Pakistan)
* Trading Corporation of Pakistan

## References

[edit]

1. ^ Finance Division 2011, p. 6
2. ^ Finance Division 2011, p. 11
3. ^ Finance Division 2011, p. 28
4. ^ Finance Division 2011, p. 30
5. ^ Finance Division 2011, p. 32
6. ^ Finance Division 2011, p. 34
7. ^ Finance Division 2011, p. 38
8. ^ Finance Division 2011, p. 47
9. ^ Finance Division 2011, p. 51

## Sources

[edit]

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

## External links

[edit]

* Finance Ministry
* Finance Division
* Revenue Division
* Board of Investment

* v
* t
* e

Ministry of Finance

Headquarter: Pakistan Secretariat

* Minister of Finance: Ishaq Dar
* Finance Secretary: Kamran Afzal

Offices|

* Accountant General of Pakistan
* Auditor General of Pakistan
* Controller General of Accounts

Agencies|

* Competition Commission of Pakistan
* Federal Board of Revenue
* Inland Revenue Service
* Pakistan Customs
* Securities and Exchange Commission

Institutions|

* State Bank of Pakistan
* National Institute of Banking & Finance
* Pakistan Security Printing Corporation
* Pakistan Mint
* National Bank of Pakistan
* Central Directorate of National Savings
* Foreign Aid

Ministries of the Federal Government of Pakistan

* v
* t
* e

Economy of Pakistan

Companies|

* KMI 30 Index
* KSE 30 Index
* KSE 100 Index
* State-owned enterprises

Currency,
governance,
regulation|

* State Bank of Pakistan
* Governor of State Bank of Pakistan
* Budget
* Finance ministry
* Finance Minister of Pakistan
* Pakistani rupee
* Banknotes
* Coinage
* Taxation
* Federal Board of Revenue
* Pakistan Bureau of Statistics
* Securities & Exchange Commission of Pakistan

History|

* Numbering system
* Five-Year Plans
* Nationalization
* Privatization
* Corporation
* Islamic economization
* Economic Liberalization
* Medium Term Development Framework
* Periods of stagflation
* National debt of Pakistan
* circular debt
* Pakistan and the International Monetary Fund
* Foreign aid to Pakistan
* U.S. aid
* Pakistani economic crisis (2022–present)

Transportation|

* Airlines
* Airports
* Bridges
* Motorways
* National highways
* Railways
* Railway stations
* Dry ports
* Seaports
* Vehicle plates

Sectors|

| Resource and
production|

* Renewable energy
* Solar power
* Wind power
* Nuclear power
* Fuel extraction
* Food
* Agriculture
* Rice production
* Tea
* Livestock
* Fishery
* Forestry
* Mining

|

Financial
services|

* Banking
* List of banks
* Insurance
* KIBOR
* Pakistan Stock Exchange

Other|

* Education
* Entertainment and Media
* Cinema
* Newspapers
* Radio
* Television
* Music
* Healthcare in Pakistan
* AIDS
* Hospitals
* Manufacturing
* Aerospace
* Automotive
* Defence
* Pharmaceuticals
* Real estate
* Science and technology
* Internet
* Telecommunications
* Transport
* Books and publishing
* Cottage and small scale
* Forestry
* Information technology
* Textile
* Tobacco
* Tourism
* Medical tourism
* Mobile phone network operators

People and labour|

* Billionaires
* Businesspeople
* Demography
* Labour force
* Child labour
* Poverty
* Pensions
* Trades unions
* Unemployment

Domestic economies|

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

Central business districts|

* Central business districts
* I. I. Chundrigar Road
* Blue Area
* Gulberg, Lahore
* Saddar
* Serai Quarter

See also|

* Central business districts
* Foreign trade
* International ranking
* Provinces by GDP
* Pakistanis by net worth
* Standard of living

Category

* v
* t
* e

Cabinet of the Government of Pakistan

Executive|

* Prime Minister of Pakistan
* Prime Minister's Office
* Deputy Prime Minister

Ministries|

* Cabinet Secretariat
* Aviation
* Establishment
* National Security
* Social Safety
* Climate Change
* Commerce
* Communications
* Defence
* Defence Production
* Economic Affairs
* Energy
* Petroleum
* Power
* Education
* National Heritage
* Finance
* Revenue
* Food Security
* Foreign Affairs
* Frontiers
* Health
* Housing
* Human Rights
* Industries
* Information & Broadcasting
* Inter-Provincial
* Inter-Faith
* Justice
* Kashmir Affairs
* Interior
* Maritime Affairs
* Narcotics Control
* Overseas Pakistanis
* Parliamentary Affairs
* Planning
* Privatization
* Railways
* Science & Technology
* IT
* Water Resources

Former|

* Environment
* Tourism
* Minorities
* Statistics

Ministries of the Federal Government of Pakistan
Federal Secretary

Authority control databases

International|

* ISNI
* VIAF

National|

* United States

Other|

* IdRef

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