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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