Financial Policy and Management Division

The Financial Policy and Management Division (FPMD) advices on matters related to public finance and other aspects. It is composed of  the Director General’s Office and two directorates which include:
 
A.    Tax, Pay and Social Welfare Policy Directorate: incorporates the Tax& Social Welfare Policy Unit and the Pay & Conditions of Service Policy Unit; and
 
B.    Financial Policy Development and Analysis Directorate: incorporates the Financial Reporting and Corporate Finance Policy Unit, the Financial Markets Policy Unit and the Government Transport Policy Unit.
 
The Research Policy Unit provides broad policy support and  forms part of the Director General’s Office.
 
The main responsibilities of the division include:
 
·         modernising financial management across public administration, enabling Ministries, Departments and Extra-Budgetary Units to manage better their financial resources, become more accountable and to increase efficiency in the use of public assets; and
·         ensuring a sound financial policy structure which relates to the various areas of responsibilities including: financial reporting, pay and conditions of service, social welfare, tax, financial markets, grants, travel on official duty, legal support and transport.
 
In addition the division provides input in other related fields, namely the environment and energy, and researches areas that relate to the work programme of the Ministry.  The division also contributes in the drawing up of Malta’s position on a number of dossiers issued by the European Union institutions, mostly related to energy, environment, resource efficiency and biodiversity, financial services, taxation and financing. It also provides technical contributions and support on key financial policy developments in relation to banking, insurance and pensions and securities. Through its Financial Markets Policy Unit, it monitors and analyses developments taking place in the field of financial services sector in Malta and internationally.
 
FPMD also contributes to the development of national strategies and policies led by other Ministries by providing feedback on behalf of the Ministry.  It also reviews a number of audits carried out by the National Audit Office (NAO) and the Internal Audit and Investigations Directorate (IAID) and carries out follow-up exercises to verify whether the recommendations put forward in the respective audit reports are being implemented. 
 
The division is also involved in a number of other tasks including representations both at EU and local level, exemptions and negotiations.  It participates actively in the various committees within the European Council and European Commission which relate, amongst other areas, to taxation, financial and banking services, insurance, pensions and securities.  The division also contributes actively in the budgetary process, mainly in respect of financial reporting, tax policy and grants.
 
All this necessitates the continuous liaison with line Ministries, Departments and Extra-Budgetary Units together with the National Audit Office (NAO), Treasury Department, Budgetary Affairs Division, Public Administration HR Office (PAHRO), Public Administration Collective Bargaining Unit (PACBU), the Internal Audit and Investigations Directorate (IAID), the National Statistics Office (NSO), Malta Financial Services Authority (MFSA), Transport Malta, Malta Resources Authority (MRA) among others.

 CONTACT INFORMATION:
 
 Contact Name 
Ministry for Finance
30, Maison Demandols,
South Street,
Valletta VLT 2000
 
 Telephone
2599 8259
 
 Fax
2599 8429

 Email

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