The Ministry of Finance and Revenue ( ur, ) or Ministry of Finance ( ur, , ''Wazarat-e-khazana'', abbreviated as MoF) is a ministry of the

Government of Pakistan The Government of Pakistan ( ur, , translit=hakúmat-e pákistán) abbreviated as GoP, is a federal government established by the Constitution of Pakistan as a constituted governing authority of the four provinces, two autonomous territorie ...

tasked to ensure a strong Pakistani economy by developing policies of sound economic management and providing expert advice to the government.

Minister

The Minister of Finance is leading

cabinet Cabinet or The Cabinet may refer to: Furniture * Cabinetry, a box-shaped piece of furniture with doors and/or drawers * Display cabinet, a piece of furniture with one or more transparent glass sheets or transparent polycarbonate sheets * Filin ...

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 A prime minister, premier or chief of cabinet is the head of the cabinet and the leader of the ministers in the executive branch of government, often in a parliamentary or semi-presidential system. Under those systems, a prime minister is ...

. The current

Minister of Finance A finance minister is an executive or cabinet position in charge of one or more of government finances, economic policy and financial regulation. A finance minister's portfolio has a large variety of names around the world, such as "treasury", ...

Pakistan Pakistan ( ur, ), officially the Islamic Republic of Pakistan ( ur, , label=none), is a country in South Asia. It is the world's List of countries and dependencies by population, fifth-most populous country, with a population of almost 24 ...

is Miftah Ismail, he was appointed to this position by the

Prime minister of Pakistan The prime minister of Pakistan ( ur, , romanized: Wazīr ē Aʿẓam , ) is the head of government of the Islamic Republic of Pakistan. Executive authority is vested in the prime minister and his chosen cabinet, despite the president of Pak ...

on 19 April 2022. The previous Minister of Finance was Shaukat Tarin.

Divisions

Finance

The ''Finance Division'' comes under the supervision of the

Secretary of Finance The Secretariat of the Treasury and Public Credit ( es, Secretaría de Hacienda y Crédito Público, SHCP) is the finance ministry of Mexico. The Secretary of the Treasury is the head of the department, and is a member of the federal executive ...

. 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. * 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. * 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. * 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. * Expenditure Wing: Basic functions include the revision and finalisation of the federal budget, enforcement of economic measures and disbursements of pension funds. * External Finance Wing: Basic functions include the arrangement of economical 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. * 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 The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. The World Bank is the collective name for the Inte ...

Department for International Development , type = Department , logo = DfID.svg , logo_width = 180px , logo_caption = , picture = File:Admiralty Screen (411824276).jpg , picture_width = 180px , picture_caption = Department for International Development (London office) (far right ...

(DFID), Citizens Damage Compensation Programme (CDCP),

SAARC Development Fund SAARC Development Fund (SDF) (also known as SAARC Development Fund Secretariat For Regional Integration) is a regional financial institution based in Thimphu, Bhutan. History SDF was founded in 2010 by the member countries of the South Asian ...

(SDF), ECO Trade and Development Bank,

United Nations Development Programme The United Nations Development Programme (UNDP)french: Programme des Nations unies pour le développement, PNUD is a United Nations agency tasked with helping countries eliminate poverty and achieve sustainable economic growth and human dev ...

(UNDP), Strengthening Poverty Reduction Strategy Monitoring Project (SPRSMP), Pakistan One UN Programme and the Joint Ministerial Commissions (JMCs/JECs). * Economic Reforms Unit: Basic functions include the formulation of development strategies for the

private sector The private sector is the part of the economy, sometimes referred to as the citizen sector, which is owned by private groups, usually as a means of establishment for profit or non profit, rather than being owned by the government. Employment The ...

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. * Military Wing: Basic functions include procurement of all defence equipment for the

Ministry of Defence {{unsourced, date=February 2021 A ministry of defence or defense (see spelling differences), also known as a department of defence or defense, is an often-used name for the part of a government responsible for matters of defence, found in state ...

(MoD) and the

Ministry of Defence Production The Ministry of Defence Production ( ur, ), is a Cabinet-level ministry of Pakistan government concerned with the development and production of the full range of equipment and stores for the Pakistan Armed Forces ranging from platforms such as m ...

(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. * Development Wing * Internal Finance Wing * Investment Wing * Provincial Finance Wing * Regulations Wing

Revenue

The ''Revenue Division'' comes under the supervision of the

Federal Secretary The federal secretary (also referred to as the secretary to the Government of Pakistan) is the highest-ranking position in the Government of Pakistan, occupied by the most senior civil servant in a specific ministry or division. The secretary is t ...

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 The Economic Affairs Secretary of Pakistan , also referred to as Secretary EAD, is the Federal Secretary for the Ministry of Economic Affairs. The position of Secretary EAD is considered to be a lucrative slot in the federal government. The positi ...

; 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. Among its various functions are the management of

external debt A country's gross external debt (or foreign debt) is the liabilities that are owed to nonresidents by residents. The debtors can be governments, corporations or citizens. External debt may be denominated in domestic or foreign currency. It inclu ...

, provision of technical assistance to foreign countries, lending and re-lending of foreign loans, and monitoring of aid utilisation.

Departments

* Accountant General Pakistan Revenues *

Auditor General of Pakistan An auditor is a person or a firm appointed by a company to execute an audit.Practical Auditing, Kul Narsingh Shrestha, 2012, Nabin Prakashan, Nepal To act as an auditor, a person should be certified by the regulatory authority of accounting and a ...

Competition Commission of Pakistan Competition is a rivalry where two or more parties strive for a common goal which cannot be shared: where one's gain is the other's loss (an example of which is a zero-sum game). Competition can arise between entities such as organisms, indivi ...

* Controller General of Accounts *

Directorate General of Intelligence and Investigation Directorate General of Intelligence and Investigation (D.G. I&I) ( ur, ) is a department of Federal Board of Revenue, Pakistan. It mostly works as an intelligence arm of Federal Board of Revenue but its day-to-day work involves investigations of ...

Financial Monitoring Unit The Financial Monitoring Unit ( ur, , abbreviated as FMU) is the Financial Intelligence Unit (FIU) of Pakistan established under the provisions of Anti-Money Laundering Act, 2010 (Previously Anti-Money Laundering Ordinance, 2007). It is an inde ...

* National Savings Organization *

Pakistan Mint The Pakistan Mint ( ur, ) is a Pakistani coin press located in Shalimar Town, Lahore, Pakistan. It is the oldest mint located in Pakistan. It is governed by the State Bank of Pakistan. The mint has been in operation since 1942. Currency denomina ...

Securities and Exchange Commission of Pakistan The Securities and Exchange Commission of Pakistan (SECP) ( ur, ) is the financial regulatory agency in Pakistan whose objective is to develop a modern and efficient corporate sector and a capital market based on sound authority principles, in ...

References

External links

Finance Ministry

Finance Division

Revenue Division

Board of Investment
{{authority control Economy of Pakistan Government finances in Pakistan 1947 establishments in Pakistan Ministries established in 1947