Finance department, Punjab (Pakistan)

Finance Department is a department of Government of Punjab, Pakistan. The Finance Department is responsible for supervision and control of provincial finances, preparation of provincial budget, formulation of Financial Rules, management of public debt.^[1]

Functions

The major functions of Finance Department are:^[2]

Management of public funds
Framing of financial rules for guidance of departments
Supervision of accounts of provincial departments
Flotation and administration of provincial loans
Administration of public revenue
Audit matters of provincial receipts and expenditure

Wings

Following are the main Wings of Finance Department to perform and manage the functions of the department:^[3]

Budget Wing
Regulations Wing
Local Government Finance
Economic Services Wing
Social Services Wing
Policy Analysis Cell
Monitoring Wing

Attached Departments

Punjab Revenue Authority

Punjab Revenue Authority is Semi Autonomous Revenue Administration for the collection of tax on services in the province. After Eighteenth Amendment to the Constitution of Pakistan collection of sales tax on Services was transferred to provincial governments by federal government.^[4] ^[5] ^[6]

Local Fund Audit

Local Fund Audit (LFA) Department is responsible for personnel administration of the Treasuries and Local Fund Audit establishments.^[7]

Risk Management Unit

Risk Management Unit (RMU) is the fiscal guardian for projects using Public Private Partnership (PPP) approach for procurement of infrastructure projects. ^[8]

External links

References

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