Ministry of Finance and Economic Development (Mauritius)

The Ministry of Finance and Economic Development of Mauritius is a ministerial department found in the cabinet of the government of the republic. It is considered as the most executive and important ministry in the cabinet after the prime minister's office. The minister of finance is the most desirable position in the cabinet of the country except of the prime minister. Most of the times being the deputy prime minister or any other senior member of the cabinet. Created along with the cabinet on 7 July 1968, since then it is found in the cabinet.

There are other departments falling under the aegis of the office such as economic development or empowerment. The department is not to be confused with the minister of economic planning as the minister of finance is the sole person in charge of the yearly budget for governmental and parliamentary works. The incumbent minister is Prime Minister Navin Ramgoolam who has take office from 6 June 2014 following the resignation of Xavier Luc Duval.

Cabinet importance

The ministry of finance in the country is a very important department. It controls all the economic activities of the country as well as determines major price index of all the staples and all other commodities subsidies and taxes. It also determines the price of petrol and gas.

The Central Bank of Mauritius falls under the department and is accountable to the minister. Often considered as the post of the most eligible future prime minister, the minister of finance plays a rather important role in a government as it may decide if the economics policies brought forward by the political party in power are good or rather futile. This may result in a change in people's vote which may oust a government to a new party for a better economic management.

History

Many ministers of finance have shaped the economy and success of the country. While many have worked under the hand of the prime minister as Vishnu Lutchminaraidoo from 1983 to 1991 who was minister of finance in the cabinet of Sir Anerood Jugnauth. He rather brought forward ideas and policies developed by Jugnauth who was the head of the cabinet.

In some other cases like in 2000 to 2003, then finance minister Paul Berenger who was also deputy prime minister, brought some of his own economic ideas and development which resulted in a constructive economic sector known as the BPO. Berenger became prime minister in 2003 and appointed Pravind Jugnauth as the head of finance and his deputy.

Pravind Jugnauth also held the office with his own ideas and creations without having the hand of the Prime Minister Berenger.

In 2005, after Navin Ramgoolam wins general elections, he forms a new cabinet and appoints Rama Sithanen as namesake minister. Yet the economic policies and implementations of other economic changes such as free public transport to students and senior citizen and also the removal of Subsidies on O level and A level examinations in High School. Those changes were ideas and work together done by Sithanen.

In 2010, Ramgoolam forms a new government in alliance with the Militant Socialist Movement as a result of lack of majority in the National Assembly.

The leader of the MSM, Pravind Jugnauth is re-appointed as Vice Prime Minister and Minister of Finance. He also implements his own policies and economic changes as per his party's program.

Salary

The salary of the minister of finance is the same as a cabinet member unless, the office holder is also appointed as deputy prime minister or vice prime minister. The salary is as follows

Previous office holders

The person holding the office of Finance for the longest run remains Rama Sithanen who held the office for a run of 9 years. The person to hold the office for a shortest run is Vasant Bunwaree who held the office for 3 years.

See also

• List of company registers

References