Alshafi Group of Companies consists Kashmir Feeds Ltd, Ittefaq Sons (Pvt) Ltd (Ittefaq Steel), Ittefaq Sugar Mills Ltd, Kashmir Sugar Mills Ltd and Ittefaq Biotech (Pvt) Ltd. Annual turnover of the group is more PKR 25 billion with PKR 7 billion fixed assets, more than PKR 12 billion long and short term (working capital facilities, around PKR 6 billion imports and PKR. 3 billion exports. Major Responsibilities:• Ongoing reviewing of the working capital lines to gauge sufficiency and deciding about enhancement.• Preparing extent and nature of working capital lines requirements and dealing with financial institutions for negotiating relevant facilities at minimum possible financial cost.• Preparing feasibility reports of new projects and enhancement in existing production and storage capacities and then managing required funds through own source and through term loans from banks accordingly.• Managing day-to-day cash flows of the company.• Planning working capital management with special emphasis on cash and credit control management.• Discussing with banks for offering securities against new lines and rationalizing security structure against existing lines.• Carrying out activities for creation, vacation, swapping and registration of charges on current and fixed assets and arranging of respective NOCs.• Arranging for the insurance of encumbered and non encumbered stocks, property, plant & equipment and of owned and leased vehicles.• Supervising and managing operational issues with Banks regarding various facilities.• Arranging for the LCs and back facilities for retirement of LCs.• Supervising and finalizing costing of various types imported raw materials.• Prioritizing the payments against bank facilities on the basis of respective maturities and markup rates and arranging for the funds required there against.

• Preparing and analyzing financial highlights, ratios analysis, variance analysis, break even analysis, working capital management, stock valuations, and preparations of information’s for financial institutions.• Preparation of Quarterly and Annual Financial Statements in accordance with the applicable laws and regulations and its circulation to stakeholders.• Preparation of Financial Management Reports on monthly and as & when required basis.• Preparation of financial Budgets according to production and procurement plans and targets and then executing budgetary controls on basis of feedbacks.• Liaison with external and internal Auditors.• Developing control systems for various accounting, financial and audit affairs and ensuring its subsequent compliance.• Delegation to and supervision of finance and accounts staff members.• Review of daily funds management statement including the planning of daily receipts and payments, daily stock positions, etc.• Supervision and checking of daily balances of current and interest bearing bank accounts.• Reviewing of monthly reconciliations of bank accounts.• Supervision of overall accounting and reporting structure relating to production and financial aspects and suggesting and implementing essential updates and amendments.• Ongoing review of effectiveness of internal controls and suggesting, developing and implementing new controls.• Supervising the submission of timely and accurate monthly and annual tax returns.• Discussing various tax issues with tax authorities and tax consultants.• Preparation of replies and grounds against assessment orders under different sections of income tax laws.

Major Responsibilities• Responsible for planning, formulating, directing and controlling overall finance function involving development and implementation of effective financial, accounting and internal reporting system of PD HQ Punjab.• Preparation of feasibility reports for new projects.• Preparation of monthly budgets of projects.• Comparison of actual financial results against budgeted and analysis of variance.• Prioritizing the payments on the basis of age analysis.• Negotiation with banks, sub contractors and suppliers.• Maintenance of adequate funds for smooth operation of the projects.• Analyzing the payment requests of sub-contractors against work done and BOQs (Balance of Quantities) .• Analysis of comparative statements.• Collection of accounting and financial data from various sites;• Compilation of data to prepare Monthly Monitoring Report (MMR) for financial and operational analysis of projects;• Supervising the maintenance of timely and accurate accounting database in the form of accounting software;• Preparation and submission of budgets;• Preparation of monthly management accounts and statutory accounts on the basis of IAS 11 ( Construction Contracts) and other statutory requirements;• Preparation of monthly consolidated accounts of HQ and all projects.• Reconciliation of inter company fund transfer;• Supervising the preparation of projects and head office bank reconciliations;• Preparation of cash requisition for obtaining funds from head office;• Planning for the implementation of oracle financial is in progress;

During my stay in the firm I have been engaged on various Audits and Consultancy assignments, which enabled me to obtain substantial and diverse exposure of financial and non-financial activities of various industry sectors including: • Construction (Descon Engineering Limited)• Pharmaceuticals (Himont Group)• Chemicals (Descon Chemicals Limited, Nimir Resins -Listed)• Textile (Various spinning & weaving Listed and Non listed companies)• Dairy Products (Prime Dairies)• NGOs’ (SOS villages)• Various non profit organizations:• Provident Fund and other retirement benefits audits ( Total Parco, JJC Descon, Descon Engineering)• Consolidation of Whole Descon Group including foreign associated. Etc• Activities• Conduct of statutory audits and system audits;• Conduct of internal audits and designing the system of internal controls.• Planning and Development of work methodology and work programs• Assessment of the financial statements in order to ensure their compliance with the requirements of the local laws, Regulation and International Financial reporting Framework (IFRS).• Job Supervisory and review • Holding meetings with client personnel to resolve issues and removal of the expectation gap.• Providing assistance to companies in the preparation of the separate and consolidated financial statements under local statutory framework.