annual report - quaid-e-azam...
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ANNUAL REPORT 2017
Quaid-e-Azam Thermal Power (Private) Limited 7-C1, Gulberg-III, Lahore
Annual Report 2017
Page No.
Vision, Mission, Core Values & Corporate Strategy 02
Corporate Information 03
Notice of Annual General Meeting 05
Directors’ Report 07
Pattern of Shareholding 14
Statement of Compliance with the Public Sector Companies (Corporate Governance) Rules, 2013 15
Auditors’ Report to the Members on the Financial Statements for the Financial Year ended June 30, 2016 21
Balance Sheet 23
Profit and Loss Account 24
Statement of Changes in Equity 25
Statement of Comprehensive Income 26
Cash Flow Statement 27
Notes to the Financial Statements 28
Form of Proxy 53
CONTENTS
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Annual Report 2017
VISION, MISSION, CORE VALUES & CORPORATE STRATEGY
Vision
To be a leading power generation company in the Country owing & operating high efficiency
power plants to produce sustainable, cost‐effective & environmentally responsible electricity to
the Grid
Mission
To provide affordable & reliable electricity for consumer and the economy and meet energy
demand in the Country to foster national economic growth
Core Values
Excellence: We strive for excellence, innovation, boldness & quality in everything we do.
Integrity: We commit to the highest standards of transparency, integrity & honesty.
Accountability: We hold ourselves accountable as professionals at all times & at all levels and
as a publically owned Company.
Teamwork: We value our colleagues and work together as a team.
Relationship: We believe in good relationship and fairness in all our dealings.
Corporate Strategy
Quaid‐e‐Azam Thermal Power (Private) Limited (“QATPL”) aims to bridge the steadily rising gap
between electricity demand & supply through establishing and maintaining Re‐Gasified
Liquefied Natural Gas (RLNG) based Thermal Power Plants possessing high efficiency. The
ambition of the Company is to strengthen its position as a leading power producer and to
contribute with long‐term, cost effective and environment compatible electricity to enhance
the national economic activities.
QATPL has a strong vision to promote capacity in the energy sector of the Country through
development of highly efficient and state‐of‐the‐art technology power plants at the most
economical cost for delivering socio‐economic benefits to the Country. The Company shall
pursue sustainable growth with fair earnings by undertaking balanced management initiatives
and leveraging its project management & engineering competences. QATPL is committed to
build strong relationship with its all stakeholders and to work diligently to increase corporate
value while complying applicable laws and high ethical standards. QATPL is confident to play a
critical role in eliminating the menace of power outages from the energy starved Country.
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Annual Report 2017
CORPORATE INFORMATION
Board of Directors Mr. Arif Saeed, Chairman Independent Director Mr. Abdul Basit Independent Director Mr. Asad Ali Khan
Mr. Nauman Ahmed Khan Syed Maratib Ali Mr. Mohammad Afzaal Bhatti Mr. Najam Ahmed Shah Mr. Asad Rehman Gilani Mr. Hamed Yaqoob Sheikh Mr. Muhammad Jehanzeb Khan
Independent Director Independent Director Independent Director Non‐Executive Director Non‐Executive Director Non‐Executive Director Non‐Executive Director Non‐Executive Director
Chief Executive Officer Mr. Ahad Khan Cheema Executive Director Finance & Audit Committee Mr. Asad Ali Khan Chairman Mr. Abdul Basit Member Syed Maratib Ali Member Mr. Mohammad Afzaal Bhatti Member Mr. Hamed Yaqoob Sheikh Member Human Resource Committee Mr. Nauman Ahmed Khan Chairman Mr. Arif Saeed Member Mr. Abdul Basit Member Mr. Mohammad Afzaal Bhatti Member Mr. Asad Rehman Gilani Member Procurement Committee Mr. Arif Saeed Chairman Mr. Abdul Basit Member Mr. Nauman Ahmed Khan Member Mr. Najam Ahmed Shah Member Mr. Asad Rehman Gilani Member Nomination Committee Mr. Nauman Ahmed Khan Chairman Mr. Arif Saeed Member Syed Maratib Ali Member Mr. Mohammad Afzaal Bhatti Member Mr. Asad Rehman Gilani Member Risk Management Committee Syed Maratib Ali Chairman Mr. Abdul Basit Member Mr. Asad Rehman Gilani Member
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Annual Report 2017
Auditors
M/s. KPMG Taseer Hadi & Co. Chartered Accountants
Legal Advisor
M/s. Allied Legal Services Advocates, Advisors & Corporate Consultants
Bankers to the Company
National Bank of Pakistan Habib Bank Limited The Bank of Punjab Bank Alfalah Limited United Bank Limited Soneri Bank Limited
Registered Office
7‐C1, Gulberg‐III, Lahore
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Annual Report 2017
Notice of the 3rd Annual General Meeting of the Shareholders
of Quaid‐e‐Azam Thermal Power (Private) Limited
Notice is hereby given to all shareholders and directors of Quaid‐e‐Azam Thermal Power
(Private) Limited (the “Company”) that the 3rd Annual General Meeting of the Company will be
held on Friday, October 27, 2017 at 03:00 pm in the Board Room of QATPL, 1st Floor, 7‐C1,
Gulberg‐III, Lahore to transact the following business:
Ordinary Business:
(i) To confirm Minutes of the 3rd Extraordinary General Meeting of the Company held on June
15, 2017.
(ii) To receive, consider and adopt Annual Audited Accounts of the Company for the Financial
Year ended June 30, 2017 together with Auditor’s, Director’s and Annual Reports thereon.
(iii) To appoint Statutory Auditors of the Company for the Year 2017‐2018 and to fix their
remuneration. The present Auditors namely M/s. KPMG Taseer Hadi & Co. Chartered
Accountants will stand retired at the conclusion of the 3rd AGM of the Company and are
eligible to offer themselves for re‐appointment as recommended by the Board of Directors.
(iv) To transact any other business with the permission of the Chair.
By Order of the Board
Quaid‐e‐Azam Thermal Power
(Private) Limited
Syed Salman Hassan
Company Secretary
Lahore: October 05, 2017
Notes:
(i) The share transfer books of the company shall remain close from October 20, 2017 to
October 27, 2017 (both days inclusive).
(ii) A member entitled to attend and vote at this meeting of the Company is entitled to appoint
any other member as his/her proxy to attend and vote instead of him/her, and a proxy so
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Annual Report 2017
appointed shall have the rights to speak and vote at the meeting as are available to the
member.
(iii) The instrument appointing a proxy and the power of attorney or other authority under
which it is signed or a notarially attested copy of the power of attorney in order to be valid
must be deposited at the registered office of the Company not less than forty‐eight (48)
hours before the meeting.
(iv) In case of corporate entity, the Board of Director’s resolution/ power of attorney with
specimen signatures of the nominee shall be produced at the time of the meeting. A proxy
representing a Corporation or company must himself be a member of the Company.
(v) The proxy form shall be witnessed by two (2) persons whose names, addresses and C.N.I.C
numbers shall be mentioned on the proxy form.
(vi) Members are requested to notify the Company of any changes in their addresses
immediately.
(vii) In case of corporate entity, the Board of Director’s resolution/ power of attorney with
specimen signatures of the nominee shall be produced at the time of the meeting. A proxy
representing a Corporation or company must himself be a member of the Company.
(viii) The proxy form shall be witnessed by two (2) persons whose names, addresses and C.N.I.C
numbers shall be mentioned on the proxy form.
(ix) Members are requested to notify the Company of any changes in their addresses
immediately.
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PROXY FORM
QUAID-E-AZAM THERMAL POWER (PRIVATE) LIMITED
I/ We ____________________________________ S/o________________________________
R/o __________________________________ being the member(s) of QUAID-E-AZAM
THERMAL POWER (PRIVATE) LIMITED hereby appoint Mr. / Mrs. /Miss
_______________________________ of (who is also member of the Company vide Registered
Folio No. ____________ (being member of Company) as my/ our Proxy to attend at and vote
for my/ us and on my/ our behalf at the ________________________________ Annual/ Extra
Ordinary General Meeting of the Company to be held at
____________________________________ on ________________ at ____________________
and at any adjournment thereof.
Signed this____________________ day of___________________ 2017
WITNESSES: Signature: Name: Address: CNIC No.
Signature: Name: Address: CNIC No.
Note:
The Form of Proxy should be deposited at the Registered Office of the Company not later than 48 hours before the time for holding the meeting. A proxy must himself be a member of the Company.
Please affix Rupees five
revenue stamp
Signature Signature should agree
with the specimen signature registered with the Company
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