Finance department, Punjab (Pakistan)

Punjab Finance Department

محکمہ خزانہ پنجاب
Department overview
Jurisdiction	Punjab, Pakistan
Headquarters	Lahore
Minister responsible	Mian Mujtaba Shuja-ur-Rehman, Minister of Finance, Punjab
Department executive	Mujahid Sherdil, Finance Secretary
Website	https://finance.punjab.gov.pk/

The Punjab Finance Department is a department of the Government of Punjab, Pakistan. It is responsible for supervision and control of provincial finances, preparation of provincial budget, formulation of financial rules and management of public debt.^[1] It is headed by a provincial minister with the coordination of a finance secretary.

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
• resource wing
• admin wing
• Regulations Wing
• Local Government Finance
• Economic Services Wing
• Education and Youth affairs wing
• Health and agriculture wing
• 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]

Punjab Pension Fund

Punjab Pension Fund (PPF) Punjab Pension Fund, a body corporate, was formed after the promulgation of Punjab Pension Fund Act in 2007. The purpose of the Fund is to generate revenue for the discharge of pension liabilities of the Government. Punjab Pension fund is managing two tpes of funds, Punjab Pension Fund (PPF) and Punjab General Provident Investment Fund (PGPIF).^[9]

See also

• Ministry of Finance
• Federal Board of Revenue
• Economy of Punjab
• Excise and Taxation Department

External links

• Finance Department
• Punjab Revenue Authority
• Risk Management Unit

References

1. About Us | finance.punjab.gov.pk
2. Overview | finance.punjab.gov.pk
3. Wings | finance.punjab.gov.pk
4. Punjab Revenue Authority (PRA) | finance.punjab.gov.pk
5. Punjab Revenue Authority to collect GST on services - thenews.com.pk
6. Establishment of Punjab Revenue Authority challenged | Business Recorder
7. Local Fund Audit (LFA) | finance.punjab.gov.pk
8. About Us | Risk Management Unit
9. About Us | Punjab Pension Fund