Ministry of Planning & Finance

Ministry of Planning and Finance

Brief  history

  1. After Post- Independence, Ministry of National Planning and Ministry of Finance and Revenue had organized separately.
  2. Ministry of National Planning was formed after independence for the rehabilitation of Myanma Economy. Main role of Ministry was to draw plans in each field that relating to country’s socio-economic. The Ministry of National Planning was first founded in associating with Ministry of Industry, Ministry of Religious and Culture, and Ministry of Defense.
  3. Since 1964, Ministry of National Planning was reformed as a separated Ministry. There were (5) departments / organizations in Ministry of National Planning . Main functions of Ministry of National Planning were analyzing State’s economical contracts and agreements, negotiating plans with other Ministries and coordinating with foreign countries for incorporation of economy, aids, assistance and United Nation’s aid and experts.
  4. Ministry of Finance and Revenue was established with (17) departments / enterprises / organizations including Account Offices (Audit) to develop Myanma monetary system and economy prior to 1972.
  5. Ministry of National Planning and Ministry of Finance and Revenue combined as a Ministry of Planning and Finance in accordance with implementing new administrative system in Myanmar in 1972, Revolutionary Council period. There were (15) departments/ enterprises/ organizations under the Ministry of Planning and Finance.
  6. In 1993, Ministry of Planning and Finance had divided into two ministries namely, Ministry of National Planning and Economics Development and Ministry of Finance and Revenue. There were (7) departments / organizations under the Ministry of National Planning and Economics Development and (12) departments / enterprises / organizations including Central Bank under the Ministry of Finance and Revenue.
  7. In 2013, Ministry of Finance and Revenue had changed its name to Ministry of Finance. Central Bank of Myanmar has formed separately from Ministry of Finance. There were (13) departments / organizations / enterprises in Ministry of Finance.
  8. In 2016, new government had desire to combine ministries which functions are related to each other. Therefore Ministry of Planning and Economic Development and Ministry of Finance combined again as a Ministry of Planning and Finance. There are (20) departments /organizations / enterprises in Ministry of Planning and Finance. These are as follows:
    1. Planning Department
    2. Project Appraisal and Progress Reporting Department
    3. Central Statistical Organization
    4. Central Equipment Statistic and Inspection Department
    5. Foreign Economic Relations Department
    6. National Archives Department
    7. Directorate of Investment and Company Administration
    8. Myanma Economic Bank
    9. Myanma Foreign Trade Bank
    10. Myanma Investment and Commercial Bank
    11. Myanma Insurance
    12. Budget Department
    13. Treasury Department
    14. Internal Revenue Department
    15. Customs Department
    16. Financial Regulatory Department
    17. Pension Department
    18. Revenue Appellate Tribunal
    19. Securities and Exchange Commission of Myanmar
    20. Myanma Agriculture Development Bank
  9. Ministry of Planning and Finance has been implementing tasks for Monetary Services, Bank Services, Public Finance Management, Revenue System and drawing plans for Economy, Investment, Human Resource Development, Coordination and Communication with local and foreign organizations in accordance with state’s policies to develop socio-economic of country rapidly.

 

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www.mopf.gov.mm

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