- ‘There is not a single ministry official who holds a PhD degree in the field of economics and finance’
- ‘Secretaries have mostly been the DMGs, having no economic background and expertise’
ISLAMABAD: The Ministry of Finance (MoF) usually deals with the subjects pertaining to the finance of the government and financial matters affecting the country as a whole. Ironically, the said ministry in Pakistan lacks qualified and skilfull experts necessary to handle economic activities, it was learnt on Saturday.
According to a reliable source in the ministry, Prime Minister Imran Khan, during a recent meeting, was surprised to know that the ministry had no macroeconomic expert.
“Like other ministries, the MoF, despite its importance, is being run entirely by the bureaucrats and non-technical staff. There is not a single ministry official who holds a PhD degree in the field of economics and finance,” said the source on the condition of anonymity.
However, officials at the ministry claim that there exists a policy wing that is being run by economic experts. The wing, the source claimed, is merely a “research branch”, having no role in decision making and implementation matters.
“The prime minister was surprised when he was informed that the ministry lacked macroeconomic experts. It usually asked the State Bank of Pakistan for help and guidance whenever needed,” the source revealed. “It seems that the bureaucracy at the ministry prefers to handover the economic matters to the International Monitory Fund after striking deals. When we start borrowing, the actual management goes in the hand of IMF.”
According to experts, apart from having qualified and skilfull economic experts in the ministry, the finance secretary should also be at least a PhD degree holder with a vast experience of handling technical policy issues of the ministry. Unfortunately, they added, the secretaries have mostly been the from the District Management Groups (DMGs) having no economic background and expertise.
It was learnt that only Dr Waqar Masood, who served the Finance Ministry for a comparatively longer period of time, was a PhD degree holder with sound knowledge on economic management.
It is pertinent to mention that presently, both the finance secretary and State Bank governor are DMGs, having not enough expertise and qualification in economic/finance to address the prevalent economic crisis. Both were appointed/posted by the previous government, as the new government is reportedly unable to find alternates for the key posts.
According to insiders, since the SBP governor had been involved in matters related to the previous IMF programme, the new government is continuing till finalization of the next bailout programme.
Apart from the shortcomings in the Finance Ministry, there is an economist group at the Ministry of Planning and Development that remains ignored in the economic management affairs. The group’s officers have been repeatedly denied their due promotions and postings.
The group’s officials were previously denied their due right of grade-22 and BS -21 posts, the highest pay scales in the civil service, keeping them under the rule of DMGs. The economist group is one of the technocratic groups constituted under the Civil Service Reforms of 1973. The group is responsible for making annual and five-year economic plans – a job that has also been practically snatched by the Ministry of Finance.
Country is in the hands of clerks not experts spexially in government ministries
Yes its with clerks
Agreed that finance matters can not b dealt by Civil services officers. Phd scholars shoul b given powers of decision making.
So an experienced bureaucracy can’t run the finance ministry because of a lack PHD in the subject matter, but the country can be run by a person who’s only other activity in his whole life has been to play cricket or party in Knightsbridge?
Imran khan holds a degree from Oxford (a university in UK located in Oxfordshire) in economics and political science. S
A simple BA from Oxford, which is usually the preserve of rich British aristocracy to give them a degree while they enjoy themselves (just like IK’s famous knightsbridge shenanigans). While most bureaucrats have advanced degrees courtesy of govt scholarships, and then a lifetime of experience running offices and departments, not an just 11 man cricket team.
There’s no degree for running a country as PM. And a graduate from prestigious Oxford university isn’t a simple BA FYI.
The people elected him so blame them. However his point still stands that we need to promote more qualified people.
Blame everyone but not our beloved Khan!
Similarly neither engineering related issues nor health related problems can be solved by bureaucrats…these babbus are the heads of every department
Holistically all govt.governess structures in third world countries (in fact no world) are administered and run by inept, inefficient,low calibre social sciences journalists,thus the mammoth unresolvable problems faced by the general populace.We need high calibre outstanding professionals to manage and run the technical wings/deptts.of the government to achieve meaningful results and cherished objectives.
Har shakh pr ULLOO betha hy injam e gulistan kia ho ga????
What is qualification of our finance minister?why not the news mention him?
MBA in finance from IBA ….
I am not amazed by seeing this. I know pakistan is the place where general runs country, judges campaigning for dams, dacoits are our elders, army runs business police are the guards of theifs. So our financial matters deal by non-experts is not a big issue in pakistan.
Japan should be our role model here .The very brightest scholars are selected for the finance ministry, regretably here we have semi- literate baboos,who not only are incompetent but a disgrace when touring overseas, their outlook , petty conversation and demenour is a national disgrace.
BOP in economist circle is Balance of payment. Our baboos thought it was Bank of Punjab