The Committee shall examine the accounts showing the appropriation of sums granted by the Assembly for the expenditure of the Government, the Annual Finance Accounts of the Government, the report of the Auditor-General of Pakistan and such other matters as the Minister for Finance may refer to it. [

The Current PAC is the 15th headed by Rana Tanveer Hussain, whereas, six Ad-hoc PACs have also been constituted during various dictatorial set up.

Meg Hillier

Public Accounts Committee (PAC) refers to a committee in the legislature that must study public audits, invite ministers, permanent secretaries or other ministry officials to the committee for questioning, and issue a report of their findings subsequent to a government budget audit.

ROLE OF PUBLIC INVESTMENT COMMITTEE The Public Investments Committee is constituted pursuant to the provisions of the constitution and is responsible for the examination of the working of the public investments. It consists of a chairperson and not more than sixteen other Members.

The Committee of Public Accounts is a select committee of the British House of Commons. It is responsible for overseeing government expenditures, and to ensure they are effective and honest.

Public Investment Board better known as PIB has been established to examine the investment plans put forwarded by the individual ministries of the Indian Government in lieu of the respective public sector undertakings. 100crores and more fall under the purview of PIB.

Public finance is broadly divided into four branches. These are Public Expenditure, Public Revenue, Public Debt and Financial Administration. Under Public Expenditure, we study the various principles, effects and problems of expenditure made by the public authorities.

Public expenditure is spending made by the government of a country on collective needs and wants such as pension, provisions (such as education, healthcare and housing), security, infrastructure, etc. Sources of government revenue include taxes, and non-tax revenues.

Public finance is the management of a country’s revenue, expenditures. An expenditure is recorded at a single point in, and debt load through various government and quasi-government institutions.

JEAN-BAPTISTE SAY, THE FATHER OF AUSTRIAN PUBLIC FINANCE ———. 1976b. ” Praxeology: The Methodology of Austrian Economics. ” In The Foundations of Modern Austrian Economics.

In this opinion, there are two main sources of public revenue — taxes and prices. Taxes are paid compulsorily whereas prices are paid voluntarily by individuals, who enter into contracts with the public authority.

Sources of Non Tax revenue of State Government

• Police services.
• Home guards.
• Electricity.
• Administrative services.
• Municipal services.
• Jobs through state public services boards.
• Sale of stationery.
• Gazettes.

Taxes, taxes, the selling of public goods and services, fines, contributions, and many more are said to be the sources of public revenue. Also, tax and non-tax income are major sources of public revenue.

State and local governments collect tax revenues from three primary sources: income, sales, and property taxes.

Individual income taxes