Ministry of Economic Affairs (Pakistan)

Last updated
Ministry of Economic Affairs
Coat of arms of Pakistan.svg
Agency overview
Jurisdiction Government of Pakistan
Headquarters Pakistan Secretariat, Islamabad Capital Territory, Pakistan
Minister responsible
Agency executive
Website Official Website

The Ministry of Economic Affairs, (abbreviated as MoEA) is a Cabinet-level ministry of the Government of Pakistan responsible for assessing, programming and negotiations of external economic assistance concerning the government and its constituent units from foreign governments and multilateral agencies. [1]

Contents

History

The Economic Affairs Division (EAD) plays a crucial role in managing Foreign Economic Assistance (FEA). EAD secures support from both bilateral and multilateral partners to fund important projects for the country's development.

FEA, which includes grants, loans, and technical assistance, helps bridge Pakistan's investment gap and improves its social and economic indicators. This assistance supports reforms in key sectors like energy and finance, contributing to economic growth.

EAD coordinates between implementing agencies and partners to ensure efficient project implementation. Through regular reviews, it aligns projects with national development goals. [2]

The partnership between Pakistan and its development partners aims to manage FEA effectively for the benefit of the country's people. EAD continues to refine its strategies to drive Pakistan's economic and social development forward.

EAD also hosts Pakistan Development Forum and Donor Coordination Meetings.

Functions

The functions and responsibilities of the Economic Affairs Division are: [3] [4]

Structure

EAD is headed by a Secretary, who is assisted by two Additional Secretaries, eight Joint Secretaries and one Chief in managing nine different Wings which perform duties in their respective functional areas based on territorial, economic and organizational demarcations. The Wings are: [4]

  1. World Bank Wing
  2. ADB/Japan Wing
  3. Administration Wing
  4. UN Wing
  5. China Wing
  6. Paris Club [PC] Wing
  7. Economic Cooperation [EC] Wing
  8. Devolution-I Wing
  9. Research & Statistics / IT / Debt Management Wing

See also

Related Research Articles

The United Nations Development Programme (UNDP) is a United Nations agency tasked with helping countries eliminate poverty and achieve sustainable economic growth and human development. The UNDP emphasizes on developing local capacity towards long-term self-sufficiency and prosperity.

The Ministry of Finance is a Cabinet-level ministry of the Government of Pakistan 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.

The Debt Management and Financial Analysis System (DMFAS) Programme is a technical assistance programme managed by the United Nations Conference on Trade and Development (UNCTAD), in Geneva. The objectives of the DMFAS Programme are to assist countries to develop administrative, institutional and legal structures for effective debt management; to provide technical assistance to government offices in charge of debt management; to deploy and advance debt analysis and management systems; and to act as a focal point for discussion and exchange of experiences in debt management. The Programme's debt management software system is currently installed in over ninety government institutions, almost exclusively ministries of finance and/or central banks.

The Monterrey Consensus was the outcome of the 2002 Monterrey Conference, the United Nations International Conference on Financing for Development. in Monterrey, Mexico. It was adopted by Heads of State and Government on 22 March 2002.

Nepal relies heavily on foreign aid, and donors coordinate development aid policy through the Nepal Development Forum, whose members include donor countries, international financial institutions, and inter-governmental organizations. Japan is Nepal's largest bilateral aid donor, and the World Bank and Asian Development Bank are the largest multilateral donors. Donors have been reported as losing confidence in Nepal as a result of political interference and corruption in poverty relief efforts as well as the country's apparently poor capacity to utilize aid. According to World Bank figures, official development assistance increased from US$8.2 million in 1960 to US$369 million in 2003 and then fell to US$177 million in 2004. According to Nepal's Ministry of Finance, total foreign aid committed in fiscal year (FY) 2003 was US$555 million, with 63.3 percent in grants and 36.7 percent in loans. In FY2004, total foreign aid committed was US$320 million, of which 37.7 percent was grants and 62.3 percent, loans. In June 2004, active World Bank credits totaled US$302 million, with the greatest portions allocated to the financial sector and to energy and mining. By the end of 2012, the outstanding World Bank IDA loan totaled $ 1.48 billionArchived 2015-05-05 at the Wayback Machine.

<span class="mw-page-title-main">Department of Foreign Affairs (Philippines)</span> Executive department of the Philippine government

The Department of Foreign Affairs is the executive department of the Philippine government tasked to contribute to the enhancement of national security, protection of the territorial integrity and national sovereignty, to participate in the national endeavor of sustaining development and enhancing the Philippines' competitive edge, to protect the rights and promote the welfare of Filipinos overseas and to mobilize them as partners in national development, to project a positive image of the Philippines, and to increase international understanding of Philippine culture for mutually-beneficial relations with other countries.

<span class="mw-page-title-main">Ministry of Home Affairs (India)</span> Government ministry of India

The Ministry of Home Affairs, or simply the Home Ministry, is a ministry of the Government of India. It is mainly responsible for the maintenance of internal security and domestic policy. It is headed by Minister of Home Affairs.

<span class="mw-page-title-main">Federal Public Service Foreign Affairs</span>

The Federal Public Service Foreign Affairs, Foreign Trade and Development Cooperation is the foreign affairs ministry of Belgium and is responsible for Belgian foreign policy, relations with the European Union, development cooperation policy and certain aspects of foreign trade policy. The central government in Brussels directs the network of diplomatic and consular representations abroad.

<span class="mw-page-title-main">Ministry of Foreign Affairs (Malaysia)</span> Ministry of the Government of Malaysia

The Ministry of Foreign Affairs, abbreviated KLN, is a ministry of the Government of Malaysia that is responsible for foreign affairs, Malaysian diaspora, foreigners in Malaysia, diplomacy, foreign relations, counter terrorism, bilateral affairs, multilateral affairs, ASEAN, international protocol, consular services, maritime affairs, and chemical weapons. It is currently based in Putrajaya. It is also widely known as Wisma Putra, which is also the name of its building in Putrajaya.

<span class="mw-page-title-main">Korea International Cooperation Agency</span> South Korean aid organization

The Korea International Cooperation Agency was established in 1991 by the Ministry of Foreign Affairs of South Korea as a governmental organization for Official Development Assistance (ODA). KOICA's goal is to enhance the effectiveness of South Korea's grant aid programs for developing countries by implementing the government's grant aid and technical cooperation programs. KOICA is led by three-year-term president of the board who is appointed by the President upon the recommendation of Foreign Minister.

People-centered development is an approach to international development that focuses on improving local communities' self-reliance, social justice, and participatory decision-making. It recognizes that economic growth does not inherently contribute to human development and calls for changes in social, political, and environmental values and practices.

<span class="mw-page-title-main">Üner Kırdar</span>

Üner Kirdar is a noted author on international development issues, retired Turkish diplomat and senior United Nations official. He is one of the early pioneers of Human development theory and, since the mid-1980s, has advocated and worked for the concept’s worldwide adoption.

Edouard Adrien André Wattez is a French United Nations diplomat who worked for the United Nations for more than 32 years in the Asia-Pacific, Africa and Middle East Regions in the United Nations Development Programme (UNDP) agency, leading assignments mainly in crisis, peace building, post-war and transition countries such as Senegal, the Fiji Islands, Rwanda, Jerusalem, Cambodia, Vietnam and Sri Lanka.

<span class="mw-page-title-main">Wahidullah Waissi</span> Afghan diplomat

Wahidullah Waissi is a career Afghan diplomat. He is now serving as the ambassador of the Islamic Republic of Afghanistan to the Commonwealth of Australia, New Zealand and Republic of Fiji. He worked as Director-General for Economic Cooperation at the Ministry of Foreign Affairs of Islamic Republic of Afghanistan from 2012 to 2016 overseeing regional economic cooperation and multilateral development partnerships, chaired economic diplomacy committee, coordinated Regional Economic Cooperation Conference for Afghanistan process and projects and served as a Focal Point for economic Confidence Building Measures (CBMs) of the Heart of Asia Istanbul Process.

<span class="mw-page-title-main">Bahamas–India relations</span> Bilateral relations

Bahamas–India relations refer to bilateral relations between The Bahamas and India. The Bahamas maintains an Honorary Consulate in New Delhi. The High Commission of India in Kingston, Jamaica concurrently accredited to The Bahamas. India does not have a resident diplomatic mission in The Bahamas.

<span class="mw-page-title-main">Inter-Governmental Group on Indonesia</span>

The Inter-Governmental Group on Indonesia (IGGI) was established in 1967 as an international consortium of official donors to coordinate the provision of foreign assistance to Indonesia. IGGI was the lead official grouping of donors to Indonesia from 1967 until early 1992 when it was abolished and replaced by the Consultative Group on Indonesia (CGI). For the 25 years up to 1992, IGGI was a key regional institution in Southeast Asia. It helped provide strong international support for Indonesia's economic recovery after the economic difficulties in Indonesia during the period of the Sukarno presidency in 1950s and 1960s.

<span class="mw-page-title-main">Pakistan Secretary of Economic Affairs</span> Administrative post of the Ministry 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 position holder is a BPS-22 grade officer, usually belonging to the Pakistan Administrative Service. The Secretary heads the EAD, which is the window to deal with external lenders, and plays a key role in assessing and negotiating external economic assistance concerning the Government of Pakistan and its constituent units from foreign governments and multilateral agencies.

The external debt of India is the debt the country owes to foreign creditors. The debtors can be the Union government, state governments, corporations or citizens of India. The debt includes money owed to private commercial banks, foreign governments, or international financial institutions such as the International Monetary Fund (IMF) and World Bank.

<span class="mw-page-title-main">Sustainable Development Goal 17</span> Sustainable Development Goal by the UN

Sustainable Development Goal 17 is about "partnerships for the goals." One of the 17 Sustainable Development Goals established by the United Nations in 2015, the official wording is: "Strengthen the means of implementation and revitalize the global partnership for sustainable development". SDG 17 refers to the need for the nonhegemonic and fair cross sector and cross country collaborations in pursuit of all the goals by the year 2030. It is a call for countries to align policies.

References

  1. "Ministry of Economic Affairs, Economic Affairs Division - Government of Pakistan". Library of Congress, Washington, D.C. 20540 USA. Retrieved 2024-04-29.
  2. "| Ministry of Finance | Government of Pakistan |". www.finance.gov.pk. Retrieved 2024-04-29.
  3. AFP (2020-04-16). "Economic Affairs Division". The Express Tribune. Retrieved 2024-04-29.
  4. 1 2 "Yearbook 2011-12" (PDF). ead.gov.pk.