Telecommunications Towers (Pakistan) (Private) Limited
Head of Finance June 2023 till Date
TPL is wholly owned subsidiary of Tawal KSA. The principal business of the Company is telecom infrastructure development by building and managing effective telecommunication and cellular infrastructure and providing this fully managed and owned infrastructure to all cellular/broadband operators. My activities primarily include:
• Financial Reporting: preparation of accurate and timely financial statements, including balance sheets, income statements, and cash flow statements. Monthly trial balance reporting to head office.
• Trend Analysis: Analysis of financial data to identify trends, anomalies, and opportunities for improvement. Present financial results to senior management and other stakeholders.
• Financial Operations: Oversee day-to-day accounting operations, including taxation, accounts payable, accounts receivable, and general ledger functions. Ensuring accurate and timely processing of financial transactions. Implementation and maintenance of effective internal controls to safeguard company assets.
• Financial Analysis and Decision Support: Analysis of financial data to provide insights into business performance, trends, and opportunities. Collaboration with cross-functional teams to provide financial perspectives on strategic initiatives and investment decisions. Evaluate the financial impact of business proposals and projects.
• ERP Implementation: Implementing oracle ERP within organization.
• Team Leadership and Development: Managing and leading the finance team, providing guidance, coaching, and mentorship.
Private Power and Infrastructure Board:
Deputy Director (Finance & Policy) March 2018 till May 2023
PPIB is a strategic organization with mandate to attract and promote private sector investment in Pakistan’s power generation and transmission sector. PPIB initiates projects from scratch, monitors implementation right through preparation of feasibility studies, pre-qualification of bidders/sponsors, tariff analysis, Financial Close (primarily on basis of project finance), construction and commissioning. At PPIB, I am primarily looking after the private investment and related policy issues of private sector power projects as well as accounting and financial management functions of PPIB that mainly includes:
Private Investment and Policy Related Function:
• Became a key player in processing of private power projects in Pakistan having cumulative generation capacity of more than 10,300 MW with foreign investment of above $ 20 Billion. These projects include coal, RLNG/Gas and renewables (Solar, Wind & Hydro) projects.
• Prepared and evaluated feasibility studies including financial analysis of any change in feasibility study during the course of project.
• Analyzed/oversaw the aforesaid power projects from financial and risk management perspective.
• Reviewed financing plans of proposed projects and approved financing term sheets and loan/financing agreements to achieve financial closing.
• Tariff modeling and analysis: Analyzed project cost components and its impact on generation tariff to ensure economic/financial viability of the Project keeping in mind sponsors' risk appetite and expected returns.
• Contract Management: preparation and negotiating of Implantation Agreement (IA), Power/Energy Purchase Agreement (PPA/EPA), Transmission Service Agreement (TSA), Fuel Supply Agreements with the sponsors and related Direct Agreements with Lenders of the projects in order to mitigate financial & operational risk coupled with bankability.
• Facilitating independent power producers in resolution of extensive taxation issues faced by them in collaboration with relevant regulatory authorities.
Internal Accounting and Financial Management Function:
• Overseeing the company’s fiscal activity, including budgeting, reporting, and auditing.
• Review and finalization of monthly management account and annual accounts.
• Improved cash flow of organization by enhancing revenue of organization, including determination of new avenue for revenue by working closely with the top management.
• Assisted the department managers with budget development and recommended appropriate budget modifications.
• Identifying tax planning opportunities and addressing potential problem areas in the course of undertaking day to day business activities.
FFBL Power Company Limited:
Deputy Manager Finance June 2015 till May 2017
FFBL Power Company Limited (FPCL) is an Independent Power Generation Company that has established 118 MW coal fired power plant in Pakistan. While working for FPCL, I was leading the finance department. During my tenor, we have successfully arranged financing for the project amounting to US$ 200 Million (total project cost of US$ 265 Million) that includes:
• Finalization of different financing and security documents with financiers, that financing includes mix of conventional and Islamic mode of financing.
• Management of capital imports of worth US$ 170 Million through Letters of Credit.
• Arrangement of short-term financing facilities of $100 Million in form of Bridge Finance Facilities to cover any financing shortfall till finalization/disbursement of long-term financing.
• Satisfaction of comprehensive list of conditions precedents and condition subsequent under syndicate financing arrangements.
• Preparation of budget plan including optimum allocation of resources while preparing and monitoring operational and capital budgets in line with requirements of Lenders.
• Preparation and amendments in financial model of the Company and running of various simulation and sensitivity analysis to evaluate its impact on project viability.
• Forecast future budget needs and presentation of annual budgets to board of directors for their approval.
• Correspondence with financiers Technical Advisor in relation to technical due diligence, periodic technical reports and procurement of Technical Advisor Certificate in relation to Disbursements under Project Finance facility.
• Involvement in negotiation of Power Purchase Agreement and Steam Sale Agreement including finalization of security arrangement with respective purchasers.
• Determining Working Capital requirements of the Company and arranging and negotiating financing of such Working Capital requirements.
• Ensure completion of financial reporting process on timely basis including review of financial statements to ensure compliance with applicable financial reporting framework.
KPMG Taseer Hadi & Co Chartered Accountants:
Senior Audit Supervisor May 2014 till May 2015
Senior Audit Associate June 2010 till Dec 2014
I also have experience of working with KPMG for five (5) years. My experience covers cross-functional exposures on different sorts of assignments including Statutory audits and half yearly reviews conducted in accordance with the International Standards on Auditing of financial statements prepared in accordance with the International Financial Reporting Standards, reporting to group auditors on financial statements / group reporting packages in accordance with their instructions and audits of the grants and preparation of the projects’ accounts and specific reports as per donors’ requirements.
KPMG LLC Lower Gulf (Dubai Office):
Senior Audit Associate Jan 2014 till April 2014
I also have experience of working for KPMG UAE office during which I got chance to work in diversified cultural environment. KPMG honed me professionally by giving me extensive experience in undertaking the following:
• Supervising and leading single or multiple teams, reviewing their work and evaluating their performance;
• Reporting to senior managers or the partner directly;
• Planning and allocating resources to meet objectives of different engagements;
• Reviewing and auditing financial information of different listed and private companies including group companies;
• Assisting and supporting clients in meeting their regulatory and contractual requirements;
• Advising and recommending clients on the best practices in finance and operations; and
• Communicating with clients to accomplish tasks effectively and efficiently.