Muhammad Umer Alam

As Senior Manager Accounts, I am reportable to CFO/Director Finance and leads the GL accounting function for various plants/units of the company

• Overseeing the overall accounts department and suggesting corrective and preventive measures where required
• Responsible for monthly financial closing and consolidation of results in accordance with IFRSs, and other regulatory requirements
• Analyzing and reporting performance results, especially for implications of future performance and suggestions for corrective action to the management
• Responsible for statutory financial statements (individual and consolidated) alongwith quarterly and annual reports preparation
• Role to act as an audit-coordinator for external and internal auditors of the company
• Preparation of working papers and presentations for board of directors in line with legal and management requirements.
• Maintain strong control systems in line with Accounting Policies, and best industry practices
• Role to act as coordinator with ERP department to develop overall control environment at entity level and department level.

As Manager Finance, I was reportable to CFO and responsible for Commercial and Operational finance. Responsibilities included:

• Analyzing financial data and preparing financial statements and accounting information and reports for senior management and proposing recommendations on monthly basis
• Overseeing preparation of data for tax returns
• Holding monthly meetings to review overhead reports and budgeted variances with departmental heads
• Involved in conducting annual of CPL
• Involved in the preparation of budgets, annual plans and looking into commercial viability of different proposals
• Financial management taking into account PPA (Power Purchase Agreement), Financing Agreements and Raw material Suppliers requirements.
• On the Commercial side, off and on meetings with NEPRA (regulator) and CPPA-G (Customer) about tariff-indexation, invoicing (deductions and payments) and other tariff related matters

Special Assignment: One-time Adjustment in Upfront Tariff under Suo moto proceedings of NEPRA

NEPRA developed the upfront tariff for new co-generation bagasse based power plants with one time adjustment allowed to early entrants adopting the upfront tariff after COD. Chiniot Power Limited commenced its commercial operations in November 2015 and took part in the suo moto proceedings conducted by NEPRA for one-time adjustment. I was part of commercial team representing finance to determine the actual cost of Project, Efficiency level, bagasse prices and availability level etc determining the suitable and affordable tariff for bagasse based power plants to Rs 12.0859/KWh. The team also took part in determination of new upfront tariff for the power plants achieving license in 2019

As Finance Manager, i was reportable to CFO and responsible for operational financial affairs dyeing segment (1 year) and spinning segment (2 years). Responsibilities included:

• Preparing financial statements and accounting information and reports for senior management and proposing recommendations on monthly basis.
• Holding monthly meetings to review overhead reports, CM schedules, production and pricing irregularities with departmental heads
• Responsible for managing the Company payroll and stores
• On commercial side, continuously looking for legitimate ways to control the expenditure of the Company without affecting operations
• Responsible for making decision of provident fund investments (size of provident fund is Rs 3 billion)
• Involved in the statutory audit of the Company and preparation of annual report
• Involved in providing recommendations about cost benefit to the production department regarding use of engines for power.

Project Name: Merger and Acquisition (NML, NLPL and NSPL)

Part of Finance team involved in the merger of Nishat Spinning (Private) Limited (NSPL), Nishat Linen (Private) Limited (NLPL) and Nishat Mills Limited (NML). The main objects of the scheme are: to effect merger of NSPL with and into NLPL and NML; and to separate the Sewing Undertaking (comprising of building, plant and machinery, related assets and inventory of Sewing Unit) from NML and transfer and vest the same with and into NLPL

Audit Senior and audit associates of both public and private companies in various sectors of the industry, including

• Manufacturing (Bulleh Shah Packaging (private) Limited),
• Software house (Xavour (Private) Limited) ,
• Health service (Al-razi Healthcare (private) Limited),
• Retail (Agrow (private) Limited),
• NGOs (Gurmani Foundation),
• Funds and other services