The Ministry of Finance is a ministry or other government agency in charge of government finance, physical policy and financial regulation. It is headed by a Finance Minister, an executive or cabinet position. The Minister is responsible each year for presenting the federal government's budget to the Parliament of Pakistan.
وزارت خزانہ | |
Agency overview | |
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Formed | August 14, 1947 |
Jurisdiction | Government of Pakistan |
Headquarters | Pakistan Secretariat in Islamabad Islamabad Capital Territory, Pakistan |
Ministers responsible |
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Agency executive | |
Website | Official Website |
Established as a first administrative ministry of the Pakistan's executive branch in 1947, the ministry of finance considered among the powerful portfolio and prestigious executive assignment in Pakistan's political spectrum. Ghulam Muhammad was the first finance minister of Pakistan had neither watermark nor 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.
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
The Revenue Division comes under the supervision of the Federal Secretary for Revenue, who is usually the chairman of the Federal Board of Revenue.
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.[10] 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.
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