ANNUAL REPORT - Quaid-e-Azam Thermalqathermal.com/.../04/02-QATPL-Annual-Report-2016-RSOPT.pdf ·...
Transcript of ANNUAL REPORT - Quaid-e-Azam Thermalqathermal.com/.../04/02-QATPL-Annual-Report-2016-RSOPT.pdf ·...
ANNUAL REPORT 2016
Qu a i d -e-Az a m Th er m a l Pow er (Pr i v a te) Li m i ted 7 - C1, Gulberg- III, L ahore
Annual Report 2016
Page No.
Vision, Mission, Core Values & Corporate Strategy 02
Corporate Information 03
Notice of Annual General Meeting 05
Directors’ Report 06
Pattern of Shareholding 11
Review Report to the Members on Statement of Compliance with the Public Sector Companies (Corporate Governance) Rules, 2013 12
Statement of Compliance with the Public Sector Companies (Corporate Governance) Rules, 2013 13
Auditors’ Report to the Members on the Financial Statements for the Financial Year ended June 30, 2016 18
Balance Sheet 20
Profit and Loss Account 21
Statement of Comprehensive Income 22
Statement of Changes in Equity 23
Cash Flow Statement 24
Notes to the Financial Statements 25
Form of Proxy 43
CONTENTS
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Annual Report 2016
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 2016
CORPORATE INFORMATION
Board of Directors Mr. Arif Saeed Chairman Mr. Abdul Basit Director Mr. Asad Ali Khan Director Mr. Nauman Ahmed Khan Director Syed Maratib Ali Director Mr. Mohammad Afzaal Bhatti Director Mr. Najam Ahmed Shah Director Mr. Muhammad Jehanzeb Khan Director Mr. Shoukat Ali Director Mr. Ahad Khan Cheema Director Chief Executive Officer Mr. Ahad Khan Cheema Finance & Audit Committee Mr. Asad Ali Khan Chairman Mr. Abdul Basit Member Syed Maratib Ali Member Mr. Mohammad Afzaal Bhatti Member Mr. Shoukat Ali Member Human Resource Committee Mr. Nauman Ahmed Khan Chairman Mr. Arif Saeed Member Mr. Abdul Basit Member Mr. Mohammad Afzaal Bhatti Member Mr. Muhammad Jehanzeb Khan Member Procurement Committee Mr. Arif Saeed Chairman Mr. Abdul Basit Member Mr. Nauman Ahmed Khan Member Mr. Najam Ahmed Shah Member Mr. Muhammad Jehanzeb Khan Member Nomination Committee Mr. Nauman Ahmed Khan Chairman Mr. Arif Saeed Member Syed Maratib Ali Member Mr. Mohammad Afzaal Bhatti Member Mr. Muhammad Jehanzeb Khan Member Risk Management Committee Syed Maratib Ali Chairman Mr. Abdul Basit Member Mr. Muhammad Jehanzeb Khan Member
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Annual Report 2016
Auditors
M/s. A. F. Ferguson & Co. Chartered Accountants (member firm of PWC Network)
Legal Advisor
M/s. Sohaib & Sultan Advocates and Corporate Counsels
Bankers to the Company
National Bank of Pakistan Habib Bank Limited The Bank of Punjab Allied Bank Limited United Bank Limited
Registered Office
7-C1, Gulberg-III, Lahore
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Annual Report 2016
Notice of the 2nd Annual General Meeting of the Shareholders of Quaid-e-Azam Thermal Power (Private) Limited
Notice is hereby given to all shareholders of Quaid-e-Azam Thermal Power (Private) Limited (the “Company”) that the 2nd Annual General Meeting of the Company will be held on Monday, October 31, 2016 at 03:00pm 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 2nd Extraordinary General Meeting of the Company held on June 09, 2016.
(ii) To receive, consider and adopt Annual Audited Accounts of the Company for the Financial Year ended June 30, 2016 together with Auditor’s, Director’s and Annual Reports thereon.
(iii) 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 08, 2016
Notes: (i) The share transfer books of the company shall remain close from October 25, 2016 to
October 31, 2016 (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 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.
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Annual Report 2016
PROXY FORM
I/ We ____________________________________ of __________________________________
(full address) 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___________________ 2016
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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