Finance Wing of WAPDA headed by Member Finance, is responsible for all budgetary, financial and accounting matters, exclusively the financing and funds management for Wapda Projects. These functions are wing wise performed by GMF (W), GMF (P) and DGF (B&C) respectively. The financial matters of all three Wings are technically under overall control of Member Finance like preparation of PSDP budget proposals for Water and Power projects, financing of these projects both from local and international monitory & capital markets.
Member Finance looks after revenue generation and financing needs of all the offices of WAPDA.
The functions of Finance Wing may be broadly categorized under following financial activities:
- Budgeting and Management Information System:
- Formulation of Public Sector Development Program, Preparation of Foreign Economic Assistance Budget, Budget chargeable to current Expenditure of Ministry, Determination of funding requirements, pleading the Budgetary needs of WAPDA and monitoring of different Development Programs.
- Accounts & Financial Reporting:
- Arrangements of Funds releases/allocations, Remittance of Funds to Projects, Management & maintenance of Foreign Loans/Grants/Credits, Audit reports, Inspection of Projects Accounts, Annual Accounts, Financial reporting, Proceeds of WAPDA Bonds/SUKUK/TFCs and compilation of Financial statement of Wapda Projects.
- Internal Audit:
- The Internal Audit division is to provide the WAPDA Authority and Management with systematic assurance, analysis, appraisals, recommendations, advice and information, with a view to assisting the Authority and Management on the effective discharge of their liabilities and the achievement of WAPDA mission and goals.
There is a major role of Finance wing to observe NEPRA rules for the implementation of Wapda Tariff, obtaining Generation Licenses with its modifications. Also monitoring the activities related to Costing and Corporate Planning Cell in Wapda.
Funding of Hydroelectric Projects (operational as well as under development) is also being carried out by Finance Wing.