Gujranwala Electric Power Company Ltd 1 [1].

Syed Ashir Riaz (BCMF13M004-) (1) Syed Ashir Riaz (BCMF13M004-) (2) Rana Afnan Ahmad Roll # MC-06124 Manager of HRM Syed Ashir Riaz (BCMF13M004-) (3) # Table of content.Sr. Page # 1 Executive Summary 8 2 Introduction of GEPCO 15 3 Reason of Selection 16 4 History of GEPCO 17 5 Power Wing 18 6 Water Wing 19 7 Vision Statement 12 8 Mission Statement 21 9 Goals 22 10 Organization Chart 23 11 Top Management 24 Syed Ashir Riaz (BCMF13M004-) (4) . 12 Board of Directors 25 13 Jurisdiction Map 26 14 Management Function 29 15 Environment of GEPCO 34 16 Departments 35 Finance Department 36 17 Human resource and Admin 42 18 Admin section 43 19 Technical department 49 20 Operational department 50 21 Information system & computer center 51 22 Work done by us 61 23 Pension Section 65 24 Audit Department 70 25 Financial Statement 74 26 Financial analysis 78 27 Investor analysis 92 28 S.O.T Analysis 94 Syed Ashir Riaz (BCMF13M004-) (5) .W. Syed Ashir Riaz (BCMF13M004-) (6) . the accomplishment of this report would not be possible. Who enables me to complete this report effectively. Syed Ashir Riaz (BCMF13M004-) (7) . We are also thankful to our respected Instructor Mr. Because without their generous co-operation. Ghulam Ahmad (Accounts Officer) and Director Finance Mr. Irfan Butt.We are grateful to Allah. We would like to dedicate all our efforts on this project to our honorable Instructor Account Officer Sir. The directors of your company take pleasure in presenting the 8th Annual report and the audited accounts of the company for the year ended June 30. who may be gone now but they will never be forgotten.  To all of those people.  To all those who have Served and Sacrificed for the sake of freedom. 2006 Syed Ashir Riaz (BCMF13M004-) (8) . Ghulam Ahmad and to our loving parents and to the following:  To all of those who dedicate their lives to others. Narowal and Mandi Bahudin. operate and maintain the power distribution network located within licensee jurisdiction area and provide reliable and uninterrupted electric power to over 2 million customers spread over 6 districts: namely Gujranwala.Lighting -5.319 9.4%.008.8% 24. Gujrat.762 3.6% Commercial 48.38 million units (2005: 5.508 8. OPERATING RESULTS: During the year ended on June 30.445 215.27.Principle activities: The principle activities of the company are to own.1% P.024 276.1% Bulk 106.191 1531.78 million units) achieving a rise of 10.872 3. The comparison of category wise units sold during the year under review with that of last year is appended below: (In GWH) Consumer category Domestic FY 2005-06 FY 2004-05 3.432 328. in the province of Punjab.326.7% Industrial 1.2006 your company sold 58. Sialkot.055.6% Syed Ashir Riaz (BCMF13M004-) (9) . Hafizabad.278.448 Change 10.786 Agri T/well 207.666 102.590 9. Consumption behavior: It has been observed that.775 10.6% 0. Above operation result show that management and workers of your company are consistently working to achieve to better results year over year.9% 4.4% As compare to the sales. an increase of 7.Colony 1.Lighting Res.0% 2. there has been no major shift in the share of consumption by each category of consumer in the over sales.e.8% 4.Res.646 -7.2% Co-Gen 132.486.1% 0.0% 5. 2006 as compared to previous year: Consumer category Domestic Commercial Industrial Bulk Agri T/well P.028. The lower growth in purchase as against sale has been due to better control on energy losses.0% Syed Ashir Riaz (BCMF13M004-) (10) 57.Colony Co-Gen Total FY 2005-06 FY 2004-05 57.2% 0.5% 100. The table appended below shows the category wise pattern of consumption during the year ended June 30. during the year under review as compared to the previous year.63 million units) i. which stood at 10.442 132.0% 2.6%. the purchase of power during the year under review remained at 6.6% 28.2% 0.44%).1% 5.528 1.3% 100.0% 1.2% 29.377 5278.16% during the year under the review (2005:12.0% .0% Total 5.827.42 million units (2005: 6.4% 1.494 0. 0 Bulk 0.5 8.5 598.6 25.0 38.476.1 606.979.4 Commercial 257.075.2 637.1 22.5) (334.2 Agri t/wells 25.169.4) (446.7 2.3 1.0) (289.0 0.9 total 2.Comparison of category wise number of consumers and billing.2006 compared with the previews year is appended as below: DESCRIPTION Profit/ (loss) before depreciation & financiao charges Depreciation Financial charges Year ended June30 2006 2005 (1.737.783.3 (448.0 9.1) Syed Ashir Riaz (BCMF13M004-) (11) .0 Financial results: Abstract of financial results for the year ended June 30.0 0.5 Others 0.3 Consumers in” thousand” and billing in “million Rs” Consumer 1.(inclusive of taxes and fees) during the yea 2005-06 and 2004-05 is as below: Consumer category FY 2005-06 consumer FY 2004-05 Billing Domestic 1.5 22.4 642.316.435.671.663.0 2.0 217.702.338.0 11.0 1.4 Billing 9.5) 1.085.069.4 Industral 40.749.7 903. Profit/ (loss) for the year Acc: (loss) Acc:(loss) (1. the power purchase price increased disproportionate to the increasing volume. Comparative position of various components if total revenue Is given in table below for information: Revenue component Sale of power Surcharge fuel charge Additional surcharge Tariff revenue rental & service income Amortized deferred credits Other income Non tariff revenue Total revenue FY 2005-06 Min.15 4.23 0.03 0.02 0. We also note that by achieving 10.01 0.36 84. Rs 6439.44% fo FY 2004-05 the GEPCO management has saved over Rs.2006 averaged Rs.53 166.23 12499.97 11240.21 543. While we note that cost of power purchase constitutes 85% of the total cost of GEPC.87 Rs/kWh 1.85 0.906.22 0.7) (803.72 482.03 FY 2004-05 Min.550 million through control over energy losses.16 0.88 0. has ended GEPCE in to the obvious result of unprecedented loss.34 2. 3.95 1994.13 3.03 0.72per kWh sold (2005: Rs.0) From financial point of view.83 77. the year under review has been very pessimistic year for GEPCO. yet without commensurate tariff for its recovery.41 1807.09 0.47 20339.92 198.16% energy losses.14 3. as a result so exorbitant increase in fuel prices.09 0.709.50 23476.49 22631.68 Syed Ashir Riaz (BCMF13M004-) (12) Rs/kWh 1. 3.693.7 (1.99 .70 950.26 per kWh sold). the sheer rise in main input cost.86 21066.37 103.9) (803. Rs 7186. as compared to the 12.98 851.06 0.34 2.61 726.9) 890. During the year.14 3. The cost of power purchase for the year ended June 30.0) (2. your company has successfully managed to continue investing in expansion and renovation of system through system Augmentation Program (SAP).44 334.96 0.33) FY 2004-05 Min.73 0.82 890.68 3.72 0.08 0.96 0.02 0.03 361.36 0.26 Rs/kWh 3.05 2119.00 0.08 0.04 FY 2004-05 Min.26 0.88 20175.39 25383.30 289.03 4.63 0.29 0. Rs 23476.01 0.64 Rs/kWh 3.36 (0.06 141. Rs 17188.99 20175.75 0.30 0.02 0.88) Total revenue Total costs Net profit / (loss) Rs/kWh 4. the comparison of cost components. Rs Rs/kWh 21066.17 DEVELOPMENT PROGRAM: During the year under the review.02 33.88 25. given as below.05 4.00 0.98 446.36 4.16 163.82 Thus the resultant profit/ (loss) for respective year has emerged as under: Cost components FY 2005-06 Min. During the year of an amount of Syed Ashir Riaz (BCMF13M004-) (13) .06 319.06 0. despite hard financial and liquidity position.01 3. Rs 21701.77 1544.98 93.92 448. would be equally helpful in better understanding of the financial facts of GEPCO: COST COMPONENTS Purchase of power Salaries & wages General & admin expense Maintenance & vehicle running Electricity of bill collection charges Insurance & slation Tariff subsidy depreciation Financial charges Others(WPPF) total FY 2005-06 Min.75 (1906.96 3.32 93.Having the account of revenues.13 46.01 3.87 25383. In order to ensure going concern status.Rs. As a result 394 village (2005: 479 villages) of the area under company jurisdiction were electrified and addition/ augmentation /renovation works on 464 KM (2005: 448 KM) HT lines and 361 KM (2005: 399 KM) LT lines were completed. This regulatory delay has in fact put GEPCO and others sister concerns to incur massive financial losses. the company needs consumer end tariff commensurate to the input cost or the matching subsidy from GOP. the company may not remain afloat. In order to address this solution the GEPCO management took forward for help from NEPRA and GOP. With this GEPCO will be able to Syed Ashir Riaz (BCMF13M004-) (14) . With on track implementation of STG program GEPCO will able to removal local system bottleneck causing load-shedding situation. 1. The company has successfully negotiated Rs. after hearing conducting in July 2005.941 million) was investing in the system. FUTURE OUTLOOK: Having achieved best possible operation result in term of sale growth and energy losses. due to bottlenecks beyond GEPCO management’ controls. Negotiations with foreigner’s lender are also underway to finance GEPCO’s Rs 5 million STG program. The tariff petition submitted by the company with NEPRA. has yet remain undecided. your company is now all set to take the challenges of future through vesting of more autonomy to corroborate entities created out of restructuring of WAPDA power wing.999 million loan from the bank of Punjab would vigorously take up projects under 6th STG plan during next year. no major achievement on 6th STG project could take place. The continue guidance and help from WAPDA and PEPCP would be need like always to sail through the transitory phase of financial losses and regain the financial health.167 million (2005:Rs. Under the current scenario of insufficient consumer end tariff and increasing cost. Mr. Mehr Mhummad Nawaz ex-CE WAPDA. The board wishes to put on record its appreciation for the valuable services rendered by the outgoing Director Mr. Zahor ul Haq and Mr. Ikhaq Ahmad Butt. officers and administrative and technical staff members for the contribution an dedication for the smooth and successful running of the company operations. Muhammad Amjad ex-GMF (P) WAPDA. Sheikh Muhammad Naseem and Brig (R) Saif Ullah Khalid (director /CEO) and extend its warm welcome to Mr. the GEPCO management has plans to complete electrification of all villages by December 2007. Anwar-ul-hasan Khan as Director and Mr. Rana Muhammad Ashraf Zahid as Director /CEOof th ecompany Auditors: The present auditor of the company M/S Ford Rhodes Sidat Hyder and company. chartered Accountants.extend more connection to the consumers and besides increasing sales would help in economics uplift of the jurisdiction area. Acknowledgement: The director wishes to praise all the executive. retire and bring eligible. offer themselves for re-appointment. Mr. Having very negligible numbers of village’s un-electrified. Syed Ashir Riaz (BCMF13M004-) (15) . 1. Human Resource and Admin 3. Technical 4. Finance 2. Management Information System 7. Operational 6. Although Syed Ashir Riaz (BCMF13M004-) (16) . Such skill not only created by theoretical knowledge but also a practical experience is also need. For this purpose I visited different organizations in Gujranwala and I found that GEPCO (Gujranwala electric power company Limited) is the only company in Gujranwala which is different and unique from the other organization and there is not any competitor of GEPCO in Gujranwala. There are the following departments of Gujranwala electric power company.B. Customer Service 5.Gujranwala electric power company (GEPCO) INTRODUCTION It is the requirement for M. The main purpose of internship is to develop the management skill.A degree to do an internship for 8 weeks in any organization and it is also an opportunity for me to get the practical knowledge from that organization. Hence I spent seven weeks in GEPCO (Gujranwala electric power company Limited). Audit Department I worked in Finance departments of GEPCO during my internship period.COM & M. This public sector organization having the position of monopoly but still was in loss and also its customers were having a lot of complains against its services.the six weeks internship program has not fully developed these abilities but it has at least given me know-how about market. I want to analyze those factors that cause the poor performance of public sectors and to know how the performance of public sector can be improved. Syed Ashir Riaz (BCMF13M004-) (17) . This training has also given me awareness of the various career opportunities available in the market. REASONS FOR SELECTION OF GEPCO There are many organizations in the locality of Gujranwala city and in the nearby cities as Lahore and Sialkot etc. There are the following reasons for joining GEPCO. Another reason is that any person’s working in a public sector organization is considered as a good experience. The work that I had done there is described in detail in this report. I want to know about the factors which are reason of poor performance of the public organizations. It enabled me to see the relevance and applicability of various tools and theories of management in market. the Pakistan Water and Power Development Authority.  Flood Management. The Authority comprises of a chairman and three members working through a Secretary. which were previously being dealt with. was created in 1958 as a Semi-Autonomous Body for the purpose of coordinating and giving a unified direction to the development of schemes in Water and Power Sectors. Syed Ashir Riaz (BCMF13M004-) (18) . Following are the name and the pictures of the chairman and the three members. by the respective Electricity and Irrigation Department of the Provinces. Transmission and Distribution of Power.  Inland Navigation.ABOUT THE WAPDA: WAPDA. The Charter of Duties of WAPDA is to investigate. plan and execute schemes for the following fields:  Generation.  Irrigation. Water Supply and Drainage.  Prevention of Water logging and Reclamation of Waterlogged and Saline Lands. 1960. Immediate impact was that Pakistan changed from a food short country to a food surplus country. Imtiiaz Anjum M.Anwar Khalid Member Finance Member Water M. the settlement with India over the water usage of the Indus Basin rivers was being negotiated. When WAPDA took over in 1958. Subsequently. Over the years WAPDA has built-up a reservoir of Technical know-how and expertise which has made it a modern and progressive organization. WAPDA is one of the largest employers of human resources in Pakistan.Chairman Member Power Mr. task was entrusted to WAPDA to construct the gigantic Indus Basin Project comprising works of two large dams at Mangla and Tarbela. Achievements of WAPDA in the past 39 years have been unmatched by any other development agency in the country. a colossal.Tariq Hameed Mr. five barrages and eight inter-river link canals in a short period of ten years which was a great achievement of WAPDA. the population explosion in the country coupled with a stalemate in the further development of water resources for creation of new storages and lately the persistent low allocation of funds for water sector projects prohibited the maintenance of earlier high level of efficiencies. Mushtaq Ch. After the signing of the Indus Waters Treaty in September. The valuable experience is still in store Syed Ashir Riaz (BCMF13M004-) (19) . The same efficiency in the management of water projects can be regained provided the funds once committed at the start of the project are provided smoothly and timely as per WAPDA demands. Under its charter of duty WAPDA has planned and investigated schemes for exploitation of surface water resources. These projects have helped to increase the irrigated areas by about 14 million acres and have enhanced cropping intensity from 70 to more than 110 percent Syed Ashir Riaz (BCMF13M004-) (20) . more than 15. Khan when completed by the year 2000. this canal is being extended into Punjab up to Dera Ghazi Khan. and has constructed medium size dams at Tanda.46 million acres of waterlogged lands.000 tubewells were drilled and 11. Two large irrigation projects in NWFP and Balochistan have been taken up to extend irrigation facilities to 0. Khan and the third stage promises prosperity to the farmers of D.with WAPDA. In this major effort.57 million and 0. 8 in NWFP and 2 in Balochistan. 28 are in Punjab. I. WAPDA Water Wing has brought about significant development in the Irrigation and Agriculture sectors. Of these projects. Khanpur and Hub. G.000 km of surface and 6.500 km of pipe drains were constructed to enhance drainage in the high groundwater table areas. It has planned and executed 56 Drainage Projects to reclaim or improve crop cultivation conditions in 16.46 million acres respectively. In the third stage. Chablat Kas Irrigation scheme near Hasanabdal & Karachi (North Karachi) Irrigation scheme were also executed. 18 in Sindh. The completed works under first two stages have already brought a change in the living standards of inhabitants of D. The stages I & II of the Chashma Right Bank Canal Project in NWFP have been completed which form about 50% of the entire project. augmentation and up-grading. In order to disperse the available power in the load centers and from the private generation projects it has become imperative to develop secondary transmission and grid system. 132kV & 66kV transmission lines and grid station as well as strengthening of the existing system through additions. of transmission lines (including 500kV. of grid station from 500kV down to 66kV level. This system consists of 44030 Circuit km. maintenance and operation of a network of secondary transmission lines and grid station throughout the country. connecting hydel generation in the north and thermal generation in mid country and the south.WAPDA GRID SYSTEM: Transmission System of WAPDA links lower generating stations and load centers of the entire country creating one of the world's largest contiguous grid system. The national grid. National Transmission & Dispatch Company (NTDC) carries out design. This project envisages installation of new secondary transmission facilities comprising of 220kV . 132kV and 66kV) and 615 Nos. Lahore and controls various training centers detailed below: - Syed Ashir Riaz (BCMF13M004-) (21) . A comprehensive project in this connection has been planned and named as 5th Secondary Transmission & Grid Station (STG) Project. TRAINING: General Manager (Training) office is functioning at WAPDA House. consists of a large net work of transmission lines and grid stations of voltage levels from 500kV to 33kV to transmit Power to load centers throughout the country to serve over ten (10) million consumers of various categories. This college conducts 17 courses which are given as under:- Syed Ashir Riaz (BCMF13M004-) (22) . ISLAMABAD: Training fields covered here are as under: Utility Operation  Management Training  Commercial Training  Financial Training  Training of Trainers  Computer Orientation Course  Audit and Accounts Training for Staff and officers It is also controlling 8 Regional Training Centers.WAPDA STAFF COLLEGE. In Punjab there are five and one in each province. Average monthly collection for the year 2003-04 is more than 2 billion. This is the distribution company. Gujranwala was one of the Area Electricity Board. Sialkot. which purchases the electricity from WAPDA. the distribution board companies under the company’s ordinance in 1984 with their own Board of Directors Area Electricity Board Gujranwala became Gujranwala Electricity Power Company (GEPCO). In 1998 Privatization board of WAPDA. Syed Ashir Riaz (BCMF13M004-) (23) . Hafizabad. We have about 20. The building was made in 1974. Gujranwala Electric Power Company was incorporated on 25 April 1998 and obtained certificate for commencement of business on 05 June 1998. HISTORY: There were eight distribution regions in Pakistan. Management and Administration is entrusted to a Board of Directors.052 connections. Narowal. which was created in early Eighties. which were called Area Electricity Board. Gujrat and Mandi Bahauddin. It encompassed the areas of existing Districts of Gujranwala.COMPANY OVERVIEW: Gujranwala Electric Power Company Limited (GEPCO) has been set up over area of jurisdiction and network of former Area Electricity Board. 09. Transmission and Distribution of Power. Transmission and Distribution has been restructured into fourteen (14) public limited companies. by the respective Electricity and Irrigation Department of the Provinces. the Pakistan Water and Power Development Authority.WAPDA is one of the largest employers of human resources in Pakistan. Four (4) Thermal Power Generation Companies (GENCOs) 1. Southern Generation Power Company Limited (GENCO-1) quarter at Jamshoro district Dadu near Hyderabad Sindh. which were previously being dealt with. plan and execute schemes for the following fields  Generation.  Inland Navigation. was created in 1958 as a Semi-Autonomous Body for the purpose of coordinating and giving a unified direction to the development of schemes in Water and Power Sectors.  Flood Management. Over the years WAPDA has built-up a reservoir of Technical know-how and expertise which has made it a modern and progressive organization. These fourteen (14) Corporate Entities are. Power wing of WAPDA comprising of Generation. Syed Ashir Riaz (BCMF13M004-) (24) head . Water Supply and Drainage. The Charter of Duties of WAPDA is to investigate. POWER WING: Power Wing is currently headed by Member (Power).WAPDA.  Prevention of Water logging and Reclamation of Waterlogged and Saline Lands. The Authority comprises of a Chairman and three (3) Members working through a Secretary.  Irrigation. Lakhra Power Generation Company Limited (GENCO-4) Headquarter at WAPDA House Lahore. central. 4. Northern Power Generation Company Limited (GENCO-3) head quarters at TPS Muzaffargarh district Muzaffargarh Punjab. south zones. Central Power Generation Company Limited (GENCO-2) head quarter at Guddu district Jacobabad Sindh.2. 3. generally covering the North Western Frontier Provinces (NWFP) Syed Ashir Riaz (BCMF13M004-) (25) . • One (1) National Transmission & Power Dispatch Company (NTDC) • Nine (9) Distribution Companies (DISCOs) as under: (LESCO) Lahore Electric Supply Company (GEPCO) Gujranwala Electric Power Company (FESCO) Faisalabad Electric Supply Company (IESCO) Islamabad Electric Supply Company (MEPCO) Multan Electric Power Company (PEPCO) Peshawar Electric Power Company (HESCO) Hyderabad Electric Supply Company (QESCO) Quetta Electric Supply Company (TESCO) Tribal Electric Supply Company WATER WING: Member (Water) controls the water Sector in the entire country divided into north. projects. the Water Wing has a C. GM (P&D) and GM Hydro Development. North. In addition. headed by a General Manager. looks after all planning activities on the water side. Chief Engineers and Project Directors implement projects falling under regions within the zone. for execution of SCARPs and surface water development. The activities of water resources and hydropower development and vision-2025 are handled by three General Managers i. Technical. Syed Ashir Riaz (BCMF13M004-) (26) .E (Coordination and Monitoring) for construction and operation of dams and all other projects under Water wing services (TS) and two separate General Managers for Ghazi Barotha Hydropower and National Drainage Project.and the provinces of Punjab and Sindh respectively. South.e. The Planning Division of Water Wing. Syed Ashir Riaz (BCMF13M004-) (27) . o Public and company workers’ safety shall be high on our priority. staff and customer base will be of primary importance. reliability and responsiveness as a public service organization for variety of customers. o Retaining and growing our business. o Developing innovative business relationships both inside and outside our local distribution area will be keys to our success.Vision Statement o Achieve and maintain the highest degree of efficiency. Mission Statement “As the leading electricity distributing company. strive to provide uninterrupted electric supply and quality service to all customers at the minimum possible cost”. Syed Ashir Riaz (BCMF13M004-) (28) . o Creating positive image of GEPCO.Goals: o Smooth and consistent flow/supply of electricity. o Availability of stores to deal with emergencies. o Open door policy to facilitate our customers. o Feedback through Customer Service Centers. o Prompt restoration of disrupted electricity supply. o Accurate and timely meter reading and billing. o Create awareness amongst employees for adopting safety measures while on lines o Energy saving message dissemination. o Special concession for quick and timely payment of bill. o Take steps for welfare of company employees o Morale building and to create sense of belonging amongst company employees. o Provision of electricity in minimum time. Syed Ashir Riaz (BCMF13M004-) (29) . ORGANIZATION CHART Syed Ashir Riaz (BCMF13M004-) (30) . This Board manages the Syed Ashir Riaz (BCMF13M004-) (31) . Mr. The Directors may elect one of their members as the Chairman of the Board and vest in him such powers.# Name Designation 1. Mr. Mr. as they may deem fit in relation to the management and administration of the Company. Irfan Rafique Butt Finance Director 7.TOP MANAGEMENT Sr. Rana Ashraf Zahid Chief Executive Officer 2. The Directors may elect one of their members to be the Chief Executive of the Company. Nadeem Ahmad Manger MIS BOARD OF DIRECTORS Management and Administration is entrusted to a Board of Directors. Mr. The Chief Executive of the Company shall be the ex-officio Vice Chairman of the Board.(R) Ghazanfar Ali Khan HR & Admin Director 4. The number of Directors of the Company is seven. Sher Aalam Company Secretary 3. Amjad Ali Shaikh Customer Services Director 8. Mr. Col. Mr. Tanveer Safdar Cheema Chief Engineer (Technical) 5. No person is appointed as Director unless he is a member of the Company. Imtiaz Ahmed Cheema Chief Engineer (Operation) 6. Grays of Cambridge. GEPCO is one of the best electricity distribution companies in Pakistan in terms of operational performance. as it has low degree of distribution losses and a high rate of bill collection. Mr. Sialkot Mr. Muhammad Amjad General Manager (Finance) Power WAPDA. Muhammad Imtiaz Ahmand Designation Chairman Metro Industries Gujrat. Board of Directors Mr. Ikhlaq Ahmad Butt President Chamber of Commerce Gujranwala Director Director Director Director Director Director Syed Ashir Riaz (BCMF13M004-) (32) . Maher Muhammad Nawaz Chief Engineer WAPDA. Muhammad Khalid Javed General Manager (C & M) WAPDA. Rana Muhammad Ashraf Zahid CEO Gujranwala Electric Power Company (GEPCO). Mr. Mirza Khawar Anwar Khawaja Chief Executive . All the important decisions falling outside the powers of Chief Executive are taken with concurrence / approval of the Board of Directors.business of the company. Jurisdiction Map Syed Ashir Riaz (BCMF13M004-) (33) . 72% and rupee devaluation @ 3-4%. create customers friendly services and remain one of the leading distribution Companies of the country.  To eliminate un-planned or un-expected claims on the Government budget.Corporate Objective: STRATEGIC BUSINESS PLAN "Provide Safe. ASSUMPTION:  Government of Pakistan will support the Company to comply with prudential Regulations of State Bank of Pakistan by debt equity swap on March 31.  Power will be available as per demand catering full requirement of the Company. Syed Ashir Riaz (BCMF13M004-) (34) . trained and highly motivated work force.  To have efficient. Accessible and Reliable Electric Power supply to our esteemed Customers in accordance with their varying needs in a cost effective and efficient manner with special emphasis on excellence and innovation" OBJECTIVES:  To develop and maintain optimum level of operational efficiency.  Interest rate on new loans in single digit  Inflation @ 7.  To make the Company financially viable and profitable. 2005 and cover regulatory gaps in tariff determination by NEPRA to meet operating expenses. provide uninterrupted power supply. Secure.  Constant growth in customers and sale units. 446 Millions for the years 2005-06 to 2008-09 generally financed through borrowing from the open market. it is imperative for us to pursue NTDC to develop and continuously upgrade its infrastructure to meet GEPCO's power demand which is likely to increase from present 1028 MW to 1388 MW in the year 2008-09 with average growth rate of 72 MW per year. extension of 23 grids.  This Company has chiliad out a very comprehensive investment plan worth Rs. addition of 1950 distribution transformers. Company has also planned to renovate 150 Nos.  The Company will also focus on improvement in customer services and take measures to promptly redress the grievances of customers. augmentation of 975 distribution transformers and renovation of 3900 LT proposals with 970. Consumers will be facilitated by utilizing information technology and increasing nos.564 sluggish meters will be replaced during this period to reduce line losses. 11 KV feeders having 1620 KM length. augmentation of 18 power transformers with 20/26 MVA and conversion of 4 grids from 66 KV to 132 KV in addition to construction of 392.ACTION PLAN:  In order to provide un-interrupted and quality supply of power to our consumers.5 KM length to reinforce the distribution system. of collection centers to deposit their bills. Company has planned construction of 11 new grids.12. Syed Ashir Riaz (BCMF13M004-) (35) .5 KM transmission lines. In addition to above 820. MPA’S the Population is 50. Syed Ashir Riaz (BCMF13M004-) (36) . Management Functions There are the following management functions o Planning o Organizing o Leading o Controlling o Staffing Planning: The planning of GEPCO to provide the electricity is based on instructions given by the Public Representaters. Senators. and MNA’S allocate their funding through Federal Ministry of Rural Islamabad. The criteria are different for District Nazims’ the population must 200. development plan and services standard. In order to achieve the goals. attract and retain motivated employees to grow with the Company. it is important to identify right person for the right position on timely basis. through their MPA is for PUNJAB.  Material management function will be streamlined to procure material in transparent manner. ensure timely availability of equipment/materials and optimum level of stocks so that company neither face shortage of materials nor funds are blocked in inventories. targets. Funding is up to 5Lack.e. District Nazims. for MNA’S and Senators there is no criteria. The human resource requirement will be built around the Company's business plan i. Employee will be imparted training to meet gaps between business requirement and actual competency. Organization policies.Organizing: The organizing of GEPCO relates to the internal as well external environment that is solely handled by CEO of GEPCO. Leading: As per leading is a concerned GEPCO launch many schemes as employee benefit and family support to encourage the performance and involvement in work. Internal Auditors perform their duties with the passage of time but they also have external independent auditors. free medical benefits. Controlling: They have internal control systems which calculate the monthly as well as weekly performance reports duly presented to the CEO. It includes its Managerial Decisions. and quality control. The qualifications of some of the designation are given below: Syed Ashir Riaz (BCMF13M004-) (37) . To increase the enthusiasm and charm of life they also launch the inter-departmental Games for which they are panning to print in their quarterly Newsletter with complete details and photographs. Staffing: GEPCO staffing is done through analyzing the section strength. Pension. Except all this they give other incentives like bonuses. home appliances loaning facilities etc. increasing the work life of the employees and customers problems. The jobs specifications are given in the news papers. free electricity supply. names “Ford Rhodes Sidat Hyder & Co (FRESCO)” Chartered Accountants which perform their duties on yearly basis at the end of financial year. c (Economics) Commercialization Policy In 1992. Qualification BS. WAPDA's functions under Water Wing and Power Wing were to be segregated in the following manner:  Unified Power wing of WAPDA comprising of Generation. As a part of the restructuring process.c (Statistics) MS. Transmission and Distribution to be restructured into fourteen (14) public limited companies under the corporate law. enhanced efficiency levels. JUNIOR ENGINEER It is termed as SDO. which means SUB Divisional Officer.O) Qualification MBA (Finance) MS.  Restructure power sector assets to form autonomous commercial entities through the adoption of prudent business practices.tech (Honors)  LINE SUPRIDENT Qualification DAE (Diploma of Associate Engineers)  REVENUE OFFICER (R. the Strategic Plan for restructuring the Pakistan Power Sector (PPS) was approved by the GOP/CCI. cost reduction and profit orientation Syed Ashir Riaz (BCMF13M004-) (38) .c (Electrical & Power) B. manage and oversee the commercialization reforms program. Operation and Development Agreement (ODA). Formed fourteen (14) Corporate Entities as following:  Four (4) Thermal Power Generation Companies (GENCOs)  One (1) National Transmission & Power Dispatch Company (NTDC)  Nine (9) Distribution Companies (DISCOs)  Constituted Board of Directors of the corporate entities with the induction of Directors from the private sector and PEPCO to utilize their experience for formulation of effective corporate policies.  Through commercialization process.  Enhance privatization initiatives Accomplishments: Major accomplishments to-date are as follows: o Operationalized Pakistan Electric Power Company (PEPCO) as a Private limited management company owned by Government of Pakistan (GOP) to steer. promote commercial viability and enhance business value of the assets block of each corporate entity. Syed Ashir Riaz (BCMF13M004-) (39) . Promote competition to eventually offer affordable electricity to customers.  Executed Legal agreements such as Business Transfer Agreements (BTA). Bulk Supply Agreements (BSA) and Fuel Supply Agreements (FSA) between WAPDA and corporate entities for autonomous commercial operation. Electricity Supply Agreements (ESA). Income tax and Wealth Tax. Transfer of WAPDA staff to the respective corporate entities (Manpower Transition Program Phase-I completed). approved and adopted opening Balance Sheets of the corporate entities as of 30-06-1998. Public hearing by NEPRA for processing of applications of Lahore Electric Power Supply Company (LESCO) and Gujranwala Electric Power Company (GEPCO) completed  Submitted proposal to GOP for Price consideration to be paid or settled by GOP with WAPDA so that share of the corporate entities owned by WAPDA can be transferred in the name of GOP Syed Ashir Riaz (BCMF13M004-) (40) .  Privatization schedule for Faisalabad Electric Supply Company (FESCO) finalized & sent to the Privatization Commission of Pakistan  Investment Plans for Distribution Power System Rehabilitation prepared and finalized by the Distribution companies  Financial Restructuring of WAPDA approved by GOP  Filed applications by all Power Distribution Companies (DISCOs) for obtaining License from National Electric Power Regulatory Authority (NEPRA).  Obtained consent of most of the creditors  Prepared. Phase II is scheduled for completion by June. reviewed. 2000.  Obtained Federal Tax Exemptions for the corporate entities for Capital Value Tax. Environment Of GEPCO Government Involvement: Syed Ashir Riaz (BCMF13M004-) (41) . following activities will be undertaken:  Rationalization of transfer prices of power from GENCOs to NTDC and NTDC to DISCOs and seeks NEPRA approval.  Initiate study to assess the merits of commercialization and privatization of Hydel Generation facilities  Identification & transfer of residual assets and employees to the corporate entities ] Auditors: FORDS RHODES SIDAT HAIDER CHARTERED ACCOUNTANTS OF PAKISTAN.Future Activities: To accelerate the commercialization process. There is no threat to GEPCO. it is the only company who provides electricity in Gujranwala. Now GEPCO is only the distributor of WAPDA. The revenues generated by GEPCO are through billing and from the billing revenues WAPDA allocates the budget for GEPCO. It will remain in the commanding position unless or until some new company comes in this race. The Budget is also prepared by the GEPCO that is approved by Wapda House.There is proper Government involvement in GEPCO. which purchase electricity from the Power Stations(GENCOS) Competitors: GEPCO has no Competitors. The policies regarding tariffs are made by NEPRA then send to Government of Pakistan for approval and after appoval it is sent to PEPCO Wapda House Lahore for sanctioning to GEPCO.  Direct hooking  Meter tempering  Earth System Syed Ashir Riaz (BCMF13M004-) (42) . but it seems that GEPCO will remain in the stars position s Theft and ways to steel electricity: There are many ways to steal electricity which is very unethical and in return it could affect the GEPCO performance. Some of the ways through which electricity can be stole which are given below. Data Entry Section Syed Ashir Riaz (BCMF13M004-) (43) . Finance Department 2. which are working in computer center. By attachment of megnet DEPARTMENTS There are following six departments of GEPCO(Gujranwala Electric and Power Company) 1.Data Control Section 2. Operational 6. Technical 4. Human Resource and Admin 3. Customer Service 5. Management Information System 7. These are as follows: 1. Audit Department MIS DIRECTORATE WORKING OF COMPUTER CENTER There are six main sections. 3.Admin Section 6-Account Section DATA CONTROL SECTION The work of Data Control Section in Computer Centers is divided in to four subsections as below:i) Liaison Section ii) Billing Section iii) Cash Section iv) Co-ordination Section FUNCTION OF LIAISON SECTION The main function of Liaison section is to receive all input data including Meter Reading Lists.Machine Room 4.Software & Programming Section 5.S) Office and to dispatch/deliver all outputs along with electricity bills back to them. Generally following input forms are received in the Liaison Section:- Syed Ashir Riaz (BCMF13M004-) (44) . Bank Stubs & Scrolls from Assistant Manager’s (C. the input data should be returned to the A. which must be signed by the A. (CP-052 and CP-139 must be signed by the A.) - In case of major discrepancies like cutting / overwriting.S) and their concerned - authorized staff members must be maintained in the Liaison section. Syed Ashir Riaz (BCMF13M004-) (45) .M. Data should be clearly entered in the data movement register (CP-82). (CS) only. The signature must be compared with the signatures on input data. 136 AMaster Data Addition/Change form (Upto 40 KW) iv) CP-52 Bill Adjustment Note v) CP-136 D vi) CP-93 WAPDA Employee updating form Detection Adjustment for Direct Hooking GENERAL INSTRUCTIONS FOR THE RECEIPT OF DATA - Input data is delivered by a senior Data Control Clerk of the Assistant Manager’s (C.M (C.S) Office in the Computer Center. - Each type of input data should have a separate covering Memo (CP-80). - Input data should be supplied as per Meter Reading and Billing Schedule given by the Manager Commercial.M (CS) concerned or any other person authorized by him.i) CP-21-C Meter Reading List (General Consumers) ii) CP-138 Meter Data Change form iii) CP-136. missing pages or missing information.S) concerned for correction and re-submission.Ms (C. Complete and up to-date record of the specimen signatures of all A. arranges the cash stubs in the same sequential order in which entries are made in the scrolls.e. At the end of the billing cycle.After acceptance. all the billing input data must be entered in the data movement register and handed over to Billing Section after obtaining signature of section supervisor. bank branch/ post office code and scroll number are noted on each scroll. RECEIVING OF CASH STUBS & SCROLLS IN LIAISON SECTION Similarly cash stubs and scrolls are also received in the Liaison section along with CP-139 i. a statement showing the late submission of Batch files recorded in red ink in the receipt register designed specially for this purpose must be prepared and handed over to A.O) for onward submission to Manager Commercial. single daily input introduced in the procedure to control payments. Necessary information such as payment date. Payments written in the amount column against each reference number are added up and scroll total is written at the end of each scroll. The cashier enters all the payments in the scrolls.M (C. FLOW OF CASH DATA FROM BANK TO COMPUTER CENTRE Customers pay their bills in the banks post offices. Syed Ashir Riaz (BCMF13M004-) (46) . We will discuss flow of cash from bank to computer centre before going into the details of receiving procedure. which may occur due to dishonored cheque.In Assistant Manager’s (C. bank code. In addition to the normal scrolls. total number of scrolls for each bank and total cash received by bank. This statement is presented in the Computer Centre along with scrolls and stubs.S) Office the payment of each stub is compared with the scroll and relevant amount is ticked / encircled. sometimes debit scrolls / stubs are also sent to Computer Centre in order to rectify any cash erroneously posted. It will be ensured that all the entries on a scroll must tally with the stubs. Bank Scrolls. The duplicate copy of the statement is returned back to Data Control Clerk duly signed by the person deputed for cash receiving.S) are clearly visible. CP-99s along with Bank statement for a specific date are received in the Liaison section. Syed Ashir Riaz (BCMF13M004-) (47) . - Signatures are compared with the specimen signatures in the Computer Centre.M (C. Following checks are performed while receiving cash in the computer centre:- It is ensured that stamp and signatures of A. At the end.S) on daily basis showing the payment date. Encircling / Ticking of payments on cash stubs is very important for identification of paid amount for entry purpose in Computer Centre. a bank statement is prepared in duplicate in the office of A.M (C. RECEIPT OF CASH INPUTS IN THE COMPUTER CENTRE Cash stubs. - It is ensured that sub division code. These documents are then entered in the receipt register of liaison section in which sub division codes. bank code. payment date. Date of payment. scroll No. Bank Code. It is absolutely essential that in case the above conditions are not fulfilled. scroll number and total amount of scroll must be clearly written on the first stub and the last stub of each scroll. the duplicate copy of the bank statement duly signed by the official deputed to receive cash scrolls. After entering on register bundles of stubs and scrolls are arranged in the following manner:1) Division wise 2) Sub Division wise 3) Bank wise 4) Date wise 5) Scroll wise in a sequence Syed Ashir Riaz (BCMF13M004-) (48) . the data should not be accepted by the computer Centre in order to avoid disturbance in the cash accounts. - Sub Division Code. date of receipt. must be returned to the Data Control Clerk. bank name and code. and amount of each scroll are clearly written on CP-99. After acceptance of cash scrolls. total amount of CP-99 are recorded against the payment date. The stubs are grouped into large bundles in above mentioned order. The signature of Data Entry Supervisor must be obtained in the Data movement register. Date and bank are recorded in detail in the data movement register. This data is then passed on to the Data Entry section.S) Office s. BILLING SECTION The main function of the billing section is to prepare all computer inputs except cash and CP-139 for entry and as well as processing by Machine Room. Weekly and Monthly cash outputs are checked in the cash section by the section supervisor. The liaison section dispatches these outputs after entering page wise on cash output registers in respect of all Assistant Manager’s (C. The input data received from the Liaison section is distributed among the Data Coders by Supervisor. After proper checking these are handed over to Liaison section along with scrolls and stubs. Information about each bundle such as Division. CP-139 received must be entered in the data movement register and handed over to cash section for onward submission to Data Entry section. DISPATCH OF CASH OUTPUTS IN LIAISON SECTION Daily.CP-99s and scrolls are separated from stubs and handed over to cash section for onward checking after marking the Main Date clearly. Each bundle is marked clearly with a specific number and main date. The Syed Ashir Riaz (BCMF13M004-) (49) . its entry is made in the register with the date of receipt. FLOW OF PRE-PRINTED METER READING LIST FROM COMPUTER CENTRE TO A. When the data is OK in all respects. He will also sign and stamp all cuttings/over-writings on M. Meter Replaced. Reconnected.S) AND BACK TO COMPUTER CENTRE. number of pages of M. it is first ensured that data is according to schedule.S). Pre-printed batch wise meter reading lists (MR) are sent by Computer Centre to A. Before dispatching the said list to A.K Meter. A register is designed to record Division wise / batch wise receipt of Meter Reading Lists. when the Meter Reading lists are received back from the Assistant Manager’s (C. units consumed and appropriate remarks such as “Defective. O. In the computer centre. Syed Ashir Riaz (BCMF13M004-) (50) .M (Operation) about seven days prior to the Meter reading date of a batch.S) for onward transmission to A.M (C.R List. In all those cases where meters have been replaced and against which meter replaced is also written in remarks. the input form of Meter replacement (CP-138) should also be attached with the meter reading list as supporting document. Assistant Manager (Operation) will sign with stamp against the all reference numbers which are declared defective first time or previous defective meters declared as OK.M (OPERATION) THROUGH A. and disconnected” in remarks column wherever required.R of each division is recorded in the register designed for this purpose.M (C.S) Office s. The meter reading staff enters the present reading.allocation of data to different Data Coders for checking and verification is done by an internal office order.M (C. Round Complete. and date are checked on CP-80 as a first step. must be checked by adding the consumption of meter replaced and meter installed. The consumption of all those consumers where “meter replaced” is written and CP-138 of replacement is attached. total numbers of entries. Syed Ashir Riaz (BCMF13M004-) (51) . It is ensured that writing is legible and there is no cutting / overwriting on Meter Reading lists. Sub division code. Assistant Manager (C.Late receipts are recorded in red ink whereas in time receipts are recorded in blue ink. total number of pages. It is ensured that signature and stamp of Assistant Manager (C. It is ensured that Meter Reading list pages are arranged in order according to their serial numbers and no page is missing. CODING OF METER READING LISTS IN BILLING SECTION. batch number. Then the number of pages and entries written on CP-80 are confirmed with meter reading list itself.S) memo No.S) is available on first and last page of each sub division. There must be the signature and stamp of Assistant Manager (Operation) against new defective cases and previous defective meters declared as OK. The number of pages of Meter Reading list is compared with the number of pages of Meter Reading list recorded at the time of initial dispatch. batch No. CP-80 and CP-138 of replacement cases are detached from Meter Reading list. Division wise files are handed over to Data Control Supervisor for onward submission to Data Entry Section. number of pages and entries of Meter Reading list on a file cover. Note:.In case of status code “7” the range of meter should be considered to ensure the correct round completion and reading is according to the range. the concerned Data Coder will enter sub-division code. Syed Ashir Riaz (BCMF13M004-) (52) . billing month. Meter Reading List is placed in the relevant file cover of the sub division..After coding. Moreover. 1. This section is responsible for 100% accurate posting of payments on Computer Master File. CO-ORDINATION SECTION: Co-ordination section is the most important section of Data Control. 3. 6. Processing of Dead Defaulter’s billing. CP-102 Weekly schedule of bank remittances. Syed Ashir Riaz (BCMF13M004-) (53) . Processing of WAPDA Employees Departmental billing. 1. 2. 5. Following inputs are received and processed in this section in addition to the posting of payments through stubs. CP-102-A Adjustment of bank remittances. 3.CASH SECTION The payments made by the consumers are posted on Computer Master File through this section. Processing of MIS Reports prepared at regional level. CP-139 Un-identified cash/debtors adjustment form. Processing of All Monthly Reports relating to billing. this section prepares and checks all weekly and monthly reports relating to payments. Cash section receives CP-99 and scrolls of a main date from the liaison section along with other input forms related to the payments. It provides coordination among all other sections of Data Control. Industrial billing. Processing of Feeder Wise Line Losses Reports CP-22. 2. 4. Following important jobs are controlled through this section. FINANCE DEPARTMENT Structure of finance department as show below Syed Ashir Riaz (BCMF13M004-) (54) . Processing. printing and checking of all other reports demanded by the authority from time to time.7. Accounts (corporate accounts) Admin payroll Pre-audit Imprest/banking Audit observation reply Receviable/payable Old balance reconciltoin Account cosolidation(including inventory IOT reconcitation dr/cr memo) The Finance department is consisting of two main departments i.Finance director Manager/ DY. Mgr. Accounts (corporate accounts) Assit. Mgr. Syed Ashir Riaz (BCMF13M004-) (55) . Accounts (corporate accounts) Assit. Account (corporate p&c) Costing/ pricing Manager (Corporate account) Dy. Mgr. The corporate planning and control department forecast.Manager (corporate p&c) Assit. Mgr.e. Accounts (corporate accounts) Budget planning Loan management System implementation post audit Assit. Mgr. (corporate accounts) Assit. plans and control on the basis of the past data. Corporate Planning and Control and Corporate Accounts. Mgr. In each division office. Syed Ashir Riaz (BCMF13M004-) (56) . In the compilation office all the trail balance are compiled and the financial statements are made on monthly and year-end basis. Debit Advice and credit advice. Inter _office Transaction Section: In inter_ office transaction section the transactions which are done by the two offices under GEPCO are handled.S.S Cheque. revenue office and common offices an accountant is appointed who record all the accounting transactions and it is his responsibility to submit the trial balance on monthly basis to the compilation office at head office of the GEPCO. In this section the documents which are used are S. Cheque/Super Subscribe Cheque: It is a cheque which is not cash at counter.The Corporate Accounts Departments is consist of the following sections      Compilation Payable Receivable Pension Section Works and Pre Audit Assets      Inter Office Transaction Imprest Banking Admin Accounts Post Audit Compilation Section: The compilation sections just compile all the accounting record of circles which consists of division and revenue office and common offices. S. Imprest Section: In the imprest section the fund transfer to the drawing and disbursement officer for the expenses of the office such as rent of building. At company head Quarter the result of these suspense balances will become Zero/Nil after confirmation of these outstand balances with each company. every drawing and disbursement officer has an account but he can not alone use this account. At company head Quarter the result of these suspense balances will become Zero/Nil after reconciliation. the other person is the accountant whose contra signature is required.S Cheque.Q) all the companies balances are minimized through Global entry. Cheque/Super Subscribe Cheque: it is a cheque which is not cash at counter Debit Note: it is issued to the company from whom the amount is received. Entertainment expense etc. At the Wapda (H. S. Receivable and Payable Section: In the receivable and payable section the transactions which are done by the two companies(under DISCOS) i.T will be made among the different offices / formation under the company. Credit Advice: It is issued to the office/formation to which the amount is paid. Receivable and payable will be made between the different companies.e. The basic aim of receivable and payable section is to minimize the suspense balance between the Discos. We can say that the account is joint Syed Ashir Riaz (BCMF13M004-) (57) . The basic aim of inter office transaction section is to minimize the suspense balance. between LESCO and GEPCO.Debit advice: It is issued to the office/formation from whom the amount is received. Credit Note: it is issued to the Company to which the amount is paid. In this section the documents which are used are S. Debit Notes and credit Notes. I. MEPCO and GEPCO etc.O.S. Banking Section: The aim of banking section is to manage all the accounts of the GEPCO. All the amounts are transferred to the WAPDA house Lahore. It basically follows the pension rules determined by Syed Ashir Riaz (BCMF13M004-) (58) . GEPCO has approximately 1000 accounts approximately in different bank’s branches and post office.account of drawing and disbursement officer and accountant. If there is any discrepancy is should by removed by the banking department. In the banking sections the checking of all the amounts are made from the revenue office and the bank’s accounts. The accountant of revenue office prepares a statement of the depositing amount by the customers and sends it to the head quarter of GEPCO. GEPCO introduces several pension and retirement schemes. There are the following types of account which the GEPCO has  Revenue Collection Account  Capital Contribution Account(Capital Gains)  Deposit Works Accounts  Security Deposit Accounts  Miscellaneous Collection Account  General Bank Account Pension Section: The pension section works to pay the pension to the retired employees of the organization. This section also deals with the retirement program of the employees. First interim is transferred to the account on or before 10th of every month and after that the remaining amount which is required by the every office is transferred on 22 nd of ever month. the Government of Pakistan. Factors of Calculation of Pension:  Age  Tenure of service  Last pay drawn  Commutation/Graduity Formula: Last pay drawn* tenure of service*70% 30 Comutation: Gross Pension * 35% *12 Pension: Syed Ashir Riaz (BCMF13M004-) (59) . Pension is distributed through proper distribution channels. There are 26 distribution channels of GEPCO from where the retired employees can draw their pension. This section also allocates the percentage of the asset to be depreciated every year with respect to its usage. Whenever there is sent any requisition for some material by any authorized individual this section comes into action.Gross Pension * 65% * Table of Annexure I Works & Pre Audit Section: The purpose of establishing this section is to check the inaccuracies at the time of their occurrence. This team conduct analysis of the requisition. This pre audit and post audit system makes it possible that there remains no chance of making default by any person. This section updates its record with the installation of any new asset under the area of jurisdiction of the GEPCO.and it also calculate the Amortization of Deffered Credit that is 3. Asset Section: The asset section keeps the record of the tangible and intangible assets of the GEPCO. Post Audit Section: This section starts its work at the time of completion of nay task.5% equal to depreciation by following straight line method of depreciation. if the requisition is upto standard then it is sent further for its fulfillment. A team of experts is formulated for the purpose of inspection. so that any discrepancy left can be removed. Syed Ashir Riaz (BCMF13M004-) (60) . Human resource. of circle under GEPCO are 4). conducting the test and interview. assistant commercial manger is the person who directly report to DCM. Revenue officer (Assistant commercial manger).Human Resource and Admin: The human resource and admin Department is consists of the following departments Admin. Syed Ashir Riaz (BCMF13M004-) (61) . The revenue officer i. legal and labor Affairs. the procedure of new hiring is place an advertisement in news paper from manger human resource. director there are deputy commercial manger in each circle of GEPCO (no. Under the C. The customer service department is headed by director customer service. In each circle there is one Deputy commercial manger DCM. collecting the application sorting the short listing candidate. Human resource department is responsible all the new hiring in the GEPCO. The promotional exam is also conducted by the human resource department. During the hiring the both parties gave the arguments and final decision is made by the committee to lay off the employee or to continue the working. which directly deals with the revenue regarding heavy industries. regional training center. Marketing and Tariff and customer service supervisor.e. CUSTOMER SERVICE: The customer service department is consists of the following departments Commercial. The legal and labor affair department deals with the any objection on the employee from any officer the haring is conducted by the legal and labor department. And the train the new employee from the training colleges such as WAPDA staff college. S. enters all information regarding the new connection on the register Called CP-24 (Revenue office application register). Tariff and GST no. on weekly basis the GCC issues a list that is called CP-101 (weekly collection cash book by bank branches). any other change that is Name. The account section compares it with CP-99 and difference may be reported to account officer. Address. as the consumer request for RCO Syed Ashir Riaz (BCMF13M004-) (62) . And prepare the necessary CP-136 ( Master Data Addition/Change Form). CP-06 (Demand Notices for Service Connection Cast) and CP-08 (service connection order) from SDO offices. is also done through the same process. disconnection order due to non payment (DCO& ERO) issued by GCC is send to the SDO office for further process. Load. And obtains CP-100 (daily cash lists). GCC enters the records of all stubs in the main Data base against the particular account no. handed over to the Computer Section for further process of billing of new connections.There are the following sections of the revenue offices     Admin Debtor Billing control Computer     Account Consumer record Data control Commercial The working of the account Section is to receives the Bank Scroll from more than 60 banks. The working of the consumer record Section is to receive the application form CP-03 (Application and Agreement form). check each stub with scroll and prepare CP-99(forwarding memo bank scroll) bank wise and make list of all bank scroll received for a particular date (which is called Memo) and handed over to Data control clerk for further submission to GEPCO computer centre. this list received back in account section. For the effected DCOs CRC Prepare CP-138 (consumer meter data change form) to stop the further billing. of the consumer. There are following Departments working under the head of Revenue officer.  Control and manage all activities of all departments in the revenue office.(Reconnection Order) after payment of his dues the CRC issues the RCO to the consumer after doing the needful as advised by the authority and prepare CP-13 (consumer statistics) on month end and reported to GEPCO Head Quarter. The working of the computer section is to enter the data in the computer. Admin Section: Following staff is working under admin section. Following are the responsibilities of Revenue officer. The working of the billing section is to dispatch the bills to the relevant sub division offices which is received from the computer section. The working of the consumer record section is to record all the consumer for new connection or any change in the old connection and forward it to computer center. This is the amount which is account receivable in the GEPCO. The working of the debtor section is to record the installment bills and the bills which is issued but not paid.  Directly manage the billing of Heavy Industry Connection.  Two Junior Clerk  One Typist  Daftri Syed Ashir Riaz (BCMF13M004-) (63) .  Two Niab Qasid  One Sweeper  Cashier The following working is done by the Admin Section  The Admin manage the Service Books and service records of the staff of revenue office.  And any instruction given by.the higher authority is implemented through admin section.  Maintenance of the office furniture and Fixture is managed by this section.  It also manages the salary of the staff. Account Section: Following staff is working under accounts section.  Pension. Syed Ashir Riaz (BCMF13M004-) (64) . medical expenses and welfare fund of the retired Employees.  One Account Officer  Two Account Assistant The following working is done by the Account Section  Receives the Bank Scroll from more than 60 banks  Check each stub with scroll and prepare CP-99(forwarding memo bank scroll) bank wise and make list of all bank scroll received for a particular date (which is called Memo) and handed over to Data control clerk for further submission to GEPCO computer centre.  Free Supply of the Active and retired Employees.  GCC enters the records of all stubs in the main Data base against the particular account no. And obtains CP-100 (daily cash lists)  This list received back in account section. Consumer Record Section (CRC): Following staff is working under consumer record section.  Check the attendance of the staff.  Commercial Superintendent  Junior Clerk The following working is done by the commercial Section  To supper wise the staff  Controls the MDI Billing along with any adjustment made by the billing and Debtor control Section through CP-111 (lists of General Adjustment) issued by the GCC. Any error found is checked. Commercial Section: Following staff is working under commercial section. entered there record in the Register Called CP-26 (security deposit register)  Any difference is reported to the account officer.  Senior Clerk  Junior Clerk The following working is done by the consumer record Section Syed Ashir Riaz (BCMF13M004-) (65) . of the consumer. The account section compares it with CP-99 and difference may be reported to account officer.  On weekly basis the GCC issues a list that is called CP-101 (weekly collection cash book by bank branches) General Account Clerk:  Copies of paid Demand Notices for New connection received from SDO offices. is also done through the same process.  As the consumer request for RCO (Reconnection Order) after payment of his dues the CRC issues the RCO to the consumer after doing the needful as advised by the authority. Receive the application form CP-03 (Application and Agreement form).  One senior clerk Syed Ashir Riaz (BCMF13M004-) (66) . DATA Control Section: Following staff is working under Data Control section.  Enters all information regarding the new connection on the register Called CP-24 (Revenue office application register)  And prepare the necessary CP-136 ( Master Data Addition/Change Form)  Handed over to the Computer Section for further process of billing of new connections  Any other change that is Name. CP06 (Demand Notices for Service Connection Cast) and CP-08 (service connection order) from SDO offices.  Disconnection order due to non payment (DCO& ERO) issued by GCC is send to the SDO office for further process. Tariff and GST no. Load. Address. For the effected DCOs CRC Prepare CP-138 (consumer meter data change form) to stop the further billing.  Prepare CP-13 (consumer statistics) on month end and reported to GEPCO Head Quarter. CP-89 (Heavy or credit balance lists). Billing Control Section (BCS): Following staff is working under Bill control section. CP-90. CP-87(billing exception lists.  After receiving back CP-21c from the SDO offices the BCS entered in CP-81 (revenue office meter reading list register) and handed over to concerned MRCC for complete checking. CP-90 (lists of estimated meter reading)} from the DCC the BCS sort out all data and handed over to all BCC for checking and forward (CP-21c. Any discrepancy is reported to RO. CP-88L (ledger posting).  Billing control super wiser (BCS)  Billing control Clerk 1/sub-division  Junior Clerk (MRCC)  (Meter reading control clerk 1 senior clerk/ subdivision) The following working is done by the billing control Section  After receiving the out put data{that is CP-21c (meter reading lists). After checking the MRCC attaches the CP80(forwarding memo) and handed over to the BCS for further submission to the computer section. CP-88A (billing assessments. CP-85. CP-87) to there respective sub division offices. One Junior clerk The following working is done by the Data control Section  Receive the input data from all sections and enters in CP-82(Data Batch register) and handed over to the liaison of GCC and receives the out put records from liaison section for GCC and again entered in Data Batch Register and handed over to the concerned super wiser. CP85(consumer bills). Syed Ashir Riaz (BCMF13M004-) (67) . 88L.  Assistant (DCS)  1 Senior Clerk for 2 sub division  Court Clerk The following working is done by the debtor control Section.  The BCC receives the CP-87. At the month end category wise sketch of complaints prepared and signed by the RO and forwarded it to the Circle office for records. 88A. 90 along with CP-21c and other relevant CPs of the related Batch from BCS and file it then check them accordingly. any discrepancy is reported to RO. 89. DCS receives  CP-105(lists of surcharge levied in error computer input form)  CP-106 weakly cash posted summary  CP0-107 unidentified cash lists  CP-108 divisional cash analysis summary  CP-109 monthly surcharge summary by batches  CP-110 batch debtors ledger  CP-126 weekly lists of cash received on behalf of other divisions  CP-127 weekly lists of cash posting made by other divisions  CP-61 lists of permanently disconnected defaulters  CP-62 month wise detail of arrear Syed Ashir Riaz (BCMF13M004-) (68) . Debtor Control Section: Following staff is working under Debtor control section. Any complaint regarding billing is settled and prepared through CP-52(bill Adjustment note) by BCS and entered in concerned CP-75 (bill adjustment note register) and approves it from the revenue officer/competent authority and then send to the computer section through CP-80.  The court clerk manages all the necessary record for the cases in different court as advised by his council before next date of hearing.  Prepare the date extended bills and installments as ordered by the competent authority.  The dead defaulter Clerk issues notices to the defaulter consumer through SDO for further disposal to the respective consumer. And at the end of the month prepare a litigation Statement on specific Performa as advised by the authority.  Issues the bill against Government connection under the division and watch their payments time to time through visit and notices. All such cases recorded in a register which is reconciled with monthly batch 26. B and C.  All monthly statements prepared by the super wiser for all such information against Government and private consumer through Performa A. CP-125 daily cash exception lists And hand over to the respected officials who check them and prepare necessary statements. Syed Ashir Riaz (BCMF13M004-) (69) .  Settle the Complaints regarding the surcharge and unidentified cash posted (after verifying from account section) through CP-139 (Debtor adjustment form) attached with CP-80 and handed over to the DCC.  Receive the SS cheques from different GEPCO offices under this division and arrange for its clearance through necessary CPs. The acknowledgement received from the SDO in case of non payment the case referred to DRO office for payment. TECHNICAL DEPARTMENT: The technical department is consists of the following departments Planning and Design.  The operators enter all such CPs in WAPDA Program Called WEB (wapda electricity billing) and report to his super wiser.  Super wiser  2 PC operator The following working is done by the computer Section  The super wiser receives the data from DCS. BCS and CRC and hand over to PC operator for entry.Computer Section: Following staff is working under computer section. This department is also responsible to purchase new material such as meters. The super wise obtains the log lists and checks them. poles and transformers. Syed Ashir Riaz (BCMF13M004-) (70) . Project cost. This department is also responsible to estimate the cost of the new project such as new grid station. lines. So we can say that the structure is made by the technical department. Material management. The technical department plans and designs the new grid stations and the lines from which the electricity is passed and delivered to the customer from grid station. new lines and poles etc. If you wanted to correct bill. The basic objective of one window operation was that to facilitate the consumers to solve the problems at their doorstep. These are as follows: 6. meter problem interruptions are solved as early as possible. In divisional level the xenon is sitting to mange the operation and in subdivision the sub divisional officer is sitting and responsible to take care of its area’s structure. You will get the connection with in a week.Data Control Section 7.OPERATIONAL DEPARTMENT: The operational department is consists of the following departments The operational department is responsible to mange the structure which is made by the technical department. The one window operation take’s step if you want to have new connection you have to go just to the nearest office of the window operation it will facilitate you and will help you. One Window Operation The one window operation was introduced by Government in 1977. the repair and maintenance is also made by the operational department. which are working in computer center. They will try to solve your problem as early as possible. MIS DIRECTORATE WORKING OF COMPUTER CENTER There are six main sections.Data Entry Section Syed Ashir Riaz (BCMF13M004-) (71) . Machine Room 9.Admin Section 6-Account Section DATA CONTROL SECTION The work of Data Control Section in Computer Centers is divided in to four subsections as below:v) Liaison Section vi) Billing Section vii) Cash Section viii) Co-ordination Section FUNCTION OF LIAISON SECTION The main function of Liaison section is to receive all input data including Meter Reading Lists.Software & Programming Section 10. Bank Stubs & Scrolls from Assistant Manager’s (C.8. Generally following input forms are received in the Liaison Section:- Syed Ashir Riaz (BCMF13M004-) (72) .S) Office and to dispatch/deliver all outputs along with electricity bills back to them. (CS) only.S) Office in the Computer Center.M (C. which must be signed by the A.M (CS) concerned or any other person authorized by him.Ms (C. - Each type of input data should have a separate covering Memo (CP-80).M.S) concerned for correction and re-submission.vii) CP-21-C Meter Reading List (General Consumers) viii) CP-138 Meter Data Change form ix) CP-136. Syed Ashir Riaz (BCMF13M004-) (73) . - Input data should be supplied as per Meter Reading and Billing Schedule given by the Manager Commercial.) - In case of major discrepancies like cutting / overwriting. The signature must be compared with the signatures on input data. Complete and up to-date record of the specimen signatures of all A. missing pages or missing information. Data should be clearly entered in the data movement register (CP-82). (CP-052 and CP-139 must be signed by the A. the input data should be returned to the A.S) and their concerned - authorized staff members must be maintained in the Liaison section. 136 AMaster Data Addition/Change form (Upto 40 KW) x) CP-52 Bill Adjustment Note xi) CP-136 D xii) CP-93 WAPDA Employee updating form Detection Adjustment for Direct Hooking GENERAL INSTRUCTIONS FOR THE RECEIPT OF DATA - Input data is delivered by a senior Data Control Clerk of the Assistant Manager’s (C. The cashier enters all the payments in the scrolls. single daily input introduced in the procedure to control payments. We will discuss flow of cash from bank to computer centre before going into the details of receiving procedure. Necessary information such as payment date.e. At the end of the billing cycle.M (C. Payments written in the amount column against each reference number are added up and scroll total is written at the end of each scroll. all the billing input data must be entered in the data movement register and handed over to Billing Section after obtaining signature of section supervisor.After acceptance. FLOW OF CASH DATA FROM BANK TO COMPUTER CENTRE Customers pay their bills in the banks post offices. a statement showing the late submission of Batch files recorded in red ink in the receipt register designed specially for this purpose must be prepared and handed over to A. RECEIVING OF CASH STUBS & SCROLLS IN LIAISON SECTION Similarly cash stubs and scrolls are also received in the Liaison section along with CP-139 i. Syed Ashir Riaz (BCMF13M004-) (74) . bank branch/ post office code and scroll number are noted on each scroll. arranges the cash stubs in the same sequential order in which entries are made in the scrolls.O) for onward submission to Manager Commercial. In Assistant Manager’s (C. At the end. Syed Ashir Riaz (BCMF13M004-) (75) . Bank Scrolls. In addition to the normal scrolls. CP-99s along with Bank statement for a specific date are received in the Liaison section.S) are clearly visible. The duplicate copy of the statement is returned back to Data Control Clerk duly signed by the person deputed for cash receiving. total number of scrolls for each bank and total cash received by bank.M (C. bank code. which may occur due to dishonored cheque. a bank statement is prepared in duplicate in the office of A.S) on daily basis showing the payment date. It will be ensured that all the entries on a scroll must tally with the stubs.M (C. Encircling / Ticking of payments on cash stubs is very important for identification of paid amount for entry purpose in Computer Centre. sometimes debit scrolls / stubs are also sent to Computer Centre in order to rectify any cash erroneously posted. - Signatures are compared with the specimen signatures in the Computer Centre. RECEIPT OF CASH INPUTS IN THE COMPUTER CENTRE Cash stubs. Following checks are performed while receiving cash in the computer centre:- It is ensured that stamp and signatures of A. This statement is presented in the Computer Centre along with scrolls and stubs.S) Office the payment of each stub is compared with the scroll and relevant amount is ticked / encircled. Date of payment. and amount of each scroll are clearly written on CP-99. scroll number and total amount of scroll must be clearly written on the first stub and the last stub of each scroll. - Sub Division Code. total amount of CP-99 are recorded against the payment date. date of receipt.- It is ensured that sub division code. bank code. payment date. must be returned to the Data Control Clerk. scroll No. bank name and code. It is absolutely essential that in case the above conditions are not fulfilled. Bank Code. the data should not be accepted by the computer Centre in order to avoid disturbance in the cash accounts. These documents are then entered in the receipt register of liaison section in which sub division codes. the duplicate copy of the bank statement duly signed by the official deputed to receive cash scrolls. After acceptance of cash scrolls. After entering on register bundles of stubs and scrolls are arranged in the following manner:6) Division wise 7) Sub Division wise 8) Bank wise 9) Date wise 10) Scroll wise in a sequence Syed Ashir Riaz (BCMF13M004-) (76) . S) Office s. The input data received from the Liaison section is distributed among the Data Coders by Supervisor. The signature of Data Entry Supervisor must be obtained in the Data movement register. The stubs are grouped into large bundles in above mentioned order. Each bundle is marked clearly with a specific number and main date. DISPATCH OF CASH OUTPUTS IN LIAISON SECTION Daily. Date and bank are recorded in detail in the data movement register.CP-99s and scrolls are separated from stubs and handed over to cash section for onward checking after marking the Main Date clearly. Information about each bundle such as Division. The Syed Ashir Riaz (BCMF13M004-) (77) . After proper checking these are handed over to Liaison section along with scrolls and stubs. This data is then passed on to the Data Entry section. The liaison section dispatches these outputs after entering page wise on cash output registers in respect of all Assistant Manager’s (C. BILLING SECTION The main function of the billing section is to prepare all computer inputs except cash and CP-139 for entry and as well as processing by Machine Room. CP-139 received must be entered in the data movement register and handed over to cash section for onward submission to Data Entry section. Weekly and Monthly cash outputs are checked in the cash section by the section supervisor. R of each division is recorded in the register designed for this purpose. A register is designed to record Division wise / batch wise receipt of Meter Reading Lists.M (C. Before dispatching the said list to A.K Meter.S) for onward transmission to A. In the computer centre. FLOW OF PRE-PRINTED METER READING LIST FROM COMPUTER CENTRE TO A.M (OPERATION) THROUGH A. when the Meter Reading lists are received back from the Assistant Manager’s (C. it is first ensured that data is according to schedule. the input form of Meter replacement (CP-138) should also be attached with the meter reading list as supporting document. Pre-printed batch wise meter reading lists (MR) are sent by Computer Centre to A. He will also sign and stamp all cuttings/over-writings on M.allocation of data to different Data Coders for checking and verification is done by an internal office order. and disconnected” in remarks column wherever required. Meter Replaced. Reconnected. The meter reading staff enters the present reading. Syed Ashir Riaz (BCMF13M004-) (78) . its entry is made in the register with the date of receipt. When the data is OK in all respects.M (C. number of pages of M. In all those cases where meters have been replaced and against which meter replaced is also written in remarks.M (Operation) about seven days prior to the Meter reading date of a batch. units consumed and appropriate remarks such as “Defective.S) Office s. Assistant Manager (Operation) will sign with stamp against the all reference numbers which are declared defective first time or previous defective meters declared as OK. O.S). Round Complete.S) AND BACK TO COMPUTER CENTRE.M (C.R List. Sub division code.S) is available on first and last page of each sub division.Late receipts are recorded in red ink whereas in time receipts are recorded in blue ink. There must be the signature and stamp of Assistant Manager (Operation) against new defective cases and previous defective meters declared as OK. The consumption of all those consumers where “meter replaced” is written and CP-138 of replacement is attached. total number of pages. It is ensured that Meter Reading list pages are arranged in order according to their serial numbers and no page is missing. Syed Ashir Riaz (BCMF13M004-) (79) .S) memo No. batch number. total numbers of entries. Assistant Manager (C. must be checked by adding the consumption of meter replaced and meter installed. It is ensured that signature and stamp of Assistant Manager (C. The number of pages of Meter Reading list is compared with the number of pages of Meter Reading list recorded at the time of initial dispatch. It is ensured that writing is legible and there is no cutting / overwriting on Meter Reading lists. Then the number of pages and entries written on CP-80 are confirmed with meter reading list itself. and date are checked on CP-80 as a first step. CODING OF METER READING LISTS IN BILLING SECTION. After coding, the concerned Data Coder will enter sub-division code, batch No., billing month, number of pages and entries of Meter Reading list on a file cover. CP-80 and CP-138 of replacement cases are detached from Meter Reading list. Meter Reading List is placed in the relevant file cover of the sub division. Division wise files are handed over to Data Control Supervisor for onward submission to Data Entry Section. Note:- In case of status code “7” the range of meter should be considered to ensure the correct round completion and reading is according to the range. Syed Ashir Riaz (BCMF13M004-) (80) CASH SECTION The payments made by the consumers are posted on Computer Master File through this section. Cash section receives CP-99 and scrolls of a main date from the liaison section along with other input forms related to the payments. Following inputs are received and processed in this section in addition to the posting of payments through stubs. 1. CP-139 Un-identified cash/debtors adjustment form. 2. CP-102 Weekly schedule of bank remittances. 3. CP-102-A Adjustment of bank remittances. This section is responsible for 100% accurate posting of payments on Computer Master File. Moreover, this section prepares and checks all weekly and monthly reports relating to payments. CO-ORDINATION SECTION: Co-ordination section is the most important section of Data Control. It provides coordination among all other sections of Data Control. Following important jobs are controlled through this section. 8. Industrial billing. 9. Processing of Dead Defaulter’s billing. 10. Processing of WAPDA Employees Departmental billing. 11. Processing of All Monthly Reports relating to billing. 12. Processing of Feeder Wise Line Losses Reports CP-22. 13. Processing of MIS Reports prepared at regional level. Syed Ashir Riaz (BCMF13M004-) (81) 14. Processing, printing and checking of all other reports demanded by the authority from time to time. INFORMATION SYSTEMS (IS) DEPARTMENT OR COMPUTER CENTER In WAPDA computer system was introduced in 1968. The Information Systems (IS) Department GEPCO was established in September 2002. The sole objective was to meet Information Technology challenges and to take advantage of future opportunities in order to ensure company survival in competitive business environment. The primary responsibility of the IS Department was to develop Information Systems that will support managerial decision making along with core objective of increasing productivity by efficient utilization of available financial, technical & human resources. SUCCESS STORIES:  GEPCO Online(www.gepco.com.pk)  Human Resource Management Information Systems (HRMIS System)  Line Losses Information System  Customer Services Management System (CSM System)  GEPCO Recruitment Management System  Establishment of Company-wide Data Communication Network WORKING OF GEPCO COMPUTER CENTER The main department of GEPCO computer center is Date Control Section The work of Data Control Section in Computer Centers is divided in to four sub-sections as below:ix) Liaison Section Syed Ashir Riaz (BCMF13M004-) (82) S) Office and to dispatch/deliver all outputs along with electricity bills back to them.O. Bank Stubs & Scrolls from Assistant Manager’s (C. xxiii) CP-137 Master Data Addition / Change form (above 40KW) xxiv) CP-140 Street Light Addition form xxv) CP-142 Advice of transfer between MDI & General batches xiv) GSTNO NTN & GST Number Addition/ Up-dation Syed Ashir Riaz (BCMF13M004-) (83) . Cost of service connection and Reconnection fee received through demand notices cash books and through I.x) Billing Section xi) Cash Section xii) Co-ordination Section xiii) Monthly Report Section FUNCTION OF LIAISON SECTION The main function of Liaison section is to receive all input data including Meter Reading Lists. 136 A Master Data Addition/Change form (Upto 40 KW) xvi) CP-52 Bill Adjustment Note xvii) CP-136 D Detection Adjustment for Direct Hooking Meter Data Change form xviii) CP-93 WAPDA Employee updating form xix) CP-139 Un-Identified Cash/Debtor’s Adjustment form xx) CP-102 Weekly schedule of Bank Remittance xxi) CP-102 A xxii) CP-152 Remittance Adjustment Form Security. Generally following input forms are received in the Liaison Section:(CP Stands for Commercial Procedure) xiii) CP-21-C Meter Reading List (General Consumers) xiv) CP-138 xv) CP-136.T credit advices. CP-140 and replacement CP-138 of Industrial Connections above 40 KW load are directly received along with Industrial Meter Reading List (CP34C) by the person deputed for Industrial Billing. ix) Extra Ordinary Heavy Bill list.) Following checks are performed in each output before dispatch to Assistant Manager’s (C.Note: .S) Office s daily:i) Electricity Bills ii) Detection Bills iii) Ledger Listing (CP-88L) iv) Assessment List (CP-88A) v) Billing exception list (CP-87) vi) List of consumers billed on estimated reading (CP-90) vii) Heavy / credit balances list (CP-89) viii) Heavy Bill list. (Deletion of free supply during EPF level listing step. x) Detection Bill List xi) Same to same list xii) Disconnection Notices(DCN) xiii) List of consumers issued DCNs (CP-112N) xiv) WAPDA Employee wrong file. DISPATCH OF DAILY OUTPUTS IN LIAISON SECTION Following output is dispatched to the Assistant Manager’s (C.CP-137.S) Office:- ELECTRICITY BILLS: Syed Ashir Riaz (BCMF13M004-) (84) . CP-142 will also be received by the same person but at the end of each month. - Calculate at least one bill of each category (tariff) to confirm the proper application of tariff. issue date and due date of bills must be same as in the billing schedule. Revenue component:  Sale of power  Surcharge  Fuel surcharge  Additional surcharge  Tariff revenue  Rental & service income  Amortized deferred credit  Other income  Non tariff revenue Syed Ashir Riaz (BCMF13M004-) (85) .- It is ensured that complete bills of a batch are received from Machine Room.e. - Components of Electricity Bills: Electricity bill has two types of component that is Revenue component and cost component. All fields are printed in proper columns. - Check at least two bills of the consumers who are being billed for the first time after reconnection i. The quality of printing is satisfactory. - It is ensured that billing month is correct. - The date of reading. - Check a few bills of the consumers being billed for the first time i. RCO cases. new connections.e. Before dispatching the said list to A.  Purchase of power  Salaries &wages  General & admin expense  Maintenance & vehicle running  Electricity bill collection charges  Insurance grid station  Tariff subsidy  Depreciation  Financial charges  Others(WPPF) BILLING SECTION: The main function of the billing section is to prepare all computer inputs except cash and CP139 for entry and as well as processing by Machine Room.M (C.R of each division is recorded in the register designed for this purpose.Cost component.M (Operation) about seven days prior to the Meter reading date of a batch.M (OPERATION) THROUGH A. number of pages of M. FLOW OF PRE-PRINTED METER READING LIST FROM COMPUTER CENTRE TO A. Round Syed Ashir Riaz (BCMF13M004-) (86) .M (C.M (C. Pre-printed batch wise meter reading lists (MR) are sent by Computer Centre to A. The allocation of data to different Data Coders for checking and verification is done by an internal office order.S) AND BACK TO COMPUTER CENTRE. units consumed and appropriate remarks such as “Defective. The meter reading staff enters the present reading.S) for onward transmission to A. The input data received from the Liaison section is distributed among the Data Coders by Supervisor.S). This section is responsible for 100% accurate posting of payments on Computer Master File. 2. Moreover. its entry is made in the register with the date of receipt. CO-ORDINATION SECTION: Syed Ashir Riaz (BCMF13M004-) (87) . In the computer centre.K Meter. CP-102-A Adjustment of bank remittances. CASH SECTION: The payments made by the consumers are posted on Computer Master File through this section. Assistant Manager (Operation) will sign with stamp against the all reference numbers which are declared defective first time or previous defective meters declared as OK.R List. O. When the data is OK in all respects. 1. when the Meter Reading lists are received back from the Assistant Manager’s (C. CP-139Un-identified cash/debtors adjustment form. CP-102Weekly schedule of bank remittances. and disconnected” in remarks column wherever required. In all those cases where meters have been replaced and against which meter replaced is also written in remarks. The number of pages of Meter Reading list is compared with the number of pages of Meter Reading list recorded at the time of initial dispatch. He will also sign and stamp all cuttings/overwritings on M. Late receipts are recorded in red ink whereas in time receipts are recorded in blue ink. Meter Replaced. it is first ensured that data is according to schedule.Complete. this section prepares and checks all weekly and monthly reports relating to payments. Reconnected. the input form of Meter replacement (CP-138) should also be attached with the meter reading list as supporting document. 3. A register is designed to record Division wise / batch wise receipt of Meter Reading Lists.S) Office s. Cash section receives CP-99 and scrolls of a main date from the liaison section along with other input forms related to the payments. Following inputs are received and processed in this section in addition to the posting of payments through stubs. Following important jobs are controlled through this section. It provides co- ordination among all other sections of Data Control. Processing. following statistical reports are also printed:o Slab List o MIS-STAT-COMP-LIST o MIS DIFF-120 Syed Ashir Riaz (BCMF13M004-) (88) . MIS-REPORT-2 Govt. 17. MIS-REPORT-1 Analysis of Arrears. Collection. MIS REPORTS: Following MIS reports are printed in the regional computer centre on monthly basis:1. MIS-REPORT-4 Category wise difference reports. 2. Billing and Collections. printing and checking of all other reports demanded by the authority from time to time.Co-ordination section is the most important section of Data Control. 3. Processing of Feeder Wise Line Losses Reports CP-22. In addition to above. 20. Processing of All Monthly Reports relating to billing. Department wise analysis of Arrears. 15. Billing and Collection. Processing of WAPDA Employees Departmental billing. 18. 19. 16. Processing of MIS Reports prepared at regional level. Processing of Dead Defaulter’s billing. 21. Arrears and Receivables 4. Industrial billing. MIS-REPORT-3 Category wise analysis of Billing. set-aside and un-identified deleted cash in respect of each division are also given. Some additional information such as surcharge levied. collection. collection and arrear for previous six months including current month in the ascending order. spillover and receivables in respect of each division. This report reflects account head wise billing. progressive un-identified amount. Average billing. collection. units billed. spillover and receivable calculated on the basis of previous 12 months are also printed. arrear. This report enables the management in comparing the current month information with previous five months as well as with average information. arrears. Billing and Collection): This is an important management report. current month un-identified amount and un-identified adjusted amount. unpaid debt. which provides account head wise analysis of billing. Closing balance is calculated by using following formulae:Closing Balance = Opening balance + Billing – payment + Un-identified deleted Cash MIS-REPORT-2 Syed Ashir Riaz (BCMF13M004-) (89) .o RPT-11B (Tariff wise Marketing Data) o MIS-STAT-01A (All consumers) o MIS-STAT-01S (All consumers) o MIS-STAT-01P (Private consumers) o MIS-STAT-03S (All consumers) o MIS-STAT-03P (Private consumers) o MIS-STAT-01 RL (All consumers) o MIS-STAT-01 RL (Private consumers) o MIS-STAT-01M (All consumers) o MIS-STAT-01M (Private consumers) MIS-REPORT-1 (Analysis of Arrears. This report is printed division wise along with circle and region totals. This report reflects category wise billing. Arrears and Receivables in respect of each division for pervious six months including current month in descending orders. Circle totals and region totals of each department are also provided. arrears. billing. Grand totals of all Government departments at region level are also printed at the end of this report. collections. surcharge levied. Average billing. component wise and total closing balance.(GOVERNMENT DEPARTMENT WISE ANALYSIS OF ARREARS. This report is printed Government Department Wise and reflects the opening balance. arrears and receivables calculated on the basis of pervious 12 months are also printed. This report enables the management in comparing the current month information with previous five months as well as with average information. COLLECTIONS. MIS-REPORT-3 (CATEGORY WISE ANALYSIS OF BILLING. BILLING AND COLLECTIONS): This report provides current month analysis of arrears. This report gives category wise analysis of Billing. spillover and net arrears of each division within a Government department. Collection as % age of billing is calculated for each category as: Collection / Billing x 100 Syed Ashir Riaz (BCMF13M004-) (90) . collection. This report is printed division wise along with circle and region totals. ARREARS AND RECEIVABLES): MIS-Report-3 is a mere reflection of MIS-Report-1 but printed category wise instead of account head wise. This report enables the management to have up-to-date position of arrears. Collections. spillover and receivable in respect of each division. billing and collection of Government departments. billing and collection in respect of each Government department. collections. units billed and departmental set-aside are also printed at the end of this report. MIS-REPORT-4 (CATEGORY WISE DIFFERENCE REPORT): This is another important management report. Difference of insignificant amount is ignorable as it is due to rounding. set-aside. which shows the category wise difference of closing balance calculated with the actual closing balance reflected on the Master File. All the systems in the Computer Department are connected with each other by LAN and use the WEB Program. Total difference is calculated as under:Closing balance on Master File – Calculated closing balance Net difference is also calculated at the end of each division as total difference is appearing due to un-identified deleted cash and amount written off.Some miscellaneous information such as surcharge levied. GCC has recently got the facility of DSL Connection to connect with other offices through internet. This report is printed division wise along with circles and region totals. Net difference (if appear) may be got investigated with the help of programming section. progressive un-identified cash. Hardware and software facilities used by computer center Software for stub scanning system prepared by own engineers and the program use for whole system is WEB which is called Wapda Electricity Billing and is based on Cobol Language. Syed Ashir Riaz (BCMF13M004-) (91) . disconnected defaulters. unpaid debt. Net difference is calculated as: Total difference – Un-identified deleted cash + Write off amount Net difference will always be zero. Closing balance is calculated as: Opening balance + Assessment – Payments The difference is calculated for each category of consumers either Government consumers or private consumers. 3 Alam Chowk (Two Days) Syed Ashir Riaz (BCMF13M004-) (92) . There were almost three to four days allocated for working in each section of the Finance Department.The whole office is centrally Air conditioned with clean environment Hardware: System Numbers P (IV) 25 (For Data entry Operators and other purposes) Plotter 03 (For printing of Lagers and other officer record) VAX system 01 Bar Cod Reader 04 (To enter the Bill Payment) New Latest laser Printer 03 (Nashua Tec P7575 Aticio) With 75print/Minute (For Bill Printing) WORK DONE BY ME As my area of specialization is Finance therefore I worked in the Finance Department of the GEPCO. There was also arrangement for some visits to the  Revenue Officer of the office of XEN’s # 2 (Two Days)  XEN’S office (Divisional Accounts Officer (Two Days)  Grids Station Shaheen Abad (M&T.SS&T) (Two Days)  MIS Peoples Colony (Two Days)  Billing Audit of R. There was a proper schedule of working in the different sections of the Finance Department of GEPCO.O. the Account Officer will prepare a reconciliation of the two balances.S check (specifically used for internal transactions in GEPCO).T (Inter Office Transactions)  Cash  Super Scribed Cheque  Assets Inter Office Transactions This section comes into action when any transaction within the internal sub offices of the GEPCO is made. and send a copy of reconciliation to the Head Office. Syed Ashir Riaz (BCMF13M004-) (93) . For payment of salary within the offices of GEPCO. details of the transactions during the month and the balance at the end of the month. After receiving this statement the Account Officer of the unit will check it with Head Office Current Account in his ledger. If the closing balance on the statement does not agree with that shown in ledger.STATEMENT OF CURRENT ACCOUNTS At the end of a month. This statement will give the balance at the beginning of the month. It can include exchange of cash or exchange of S. Head Office will send to the Accounts Officer of every accounting unit a transcript of the latter’s Current Account for that month in the Head Office books.O.  I. T 2500 2500 I. All the material used in the company is demanded from them.I. while the Syed Ashir Riaz (BCMF13M004-) (94) . then following accounting entry will be made by the both offices.O. For example if an employee worked for 15 days in the GEPCO and for 15 days in Sialkot office and GEPCO had paid the whole salary.T also involves when any type of material is requested by the Line Superintendent. Material Requisition Cycle Regional stores are the main stores having the material. One of the offices will pay the whole amount of salary due to the employee for his facility and the other office will pay amount to the employee but he will receive a voucher from the other office.O.O.O.T will come into action if any person has worked for some days in one office of GEPCO and worked for some days in the other office of the GEPCO.T Salary (debit able to Gujranwala) Salary (debit able to Sialkot) 2500 2500 Cash 5000 By Sialkot Salary I. Total salary= 5000 By GEPCO I. T department will involve. For regional store(Main Store OF Gepco) S.S Cheque Material debit credit For field store Material S.O. For this transaction I. Cash All the transactions of an accounting unit will be recorded in its cash books.S Cheque debit credit For providing free supply benefits. The employees of GEPCO are provided the facility of free electricity supply. When the regional store fulfills the requisition of material the following accounting entry is made by the store. All receipts and issues of material and inter-office Syed Ashir Riaz (BCMF13M004-) (95) .field stores act as an intermediary between the regional store and the offices. The free supply to the employee will be provided to the employee in his requested area but the expenditures will be charged to the IESCO. An employee of IESCO can demand free supply in the region of GEPCO. 1. Super Scribed Check is used fro following purposes.S Check stands for Super Scribed Check. For each of these miscellaneous entries a journal voucher is S. To adjust by debit or credit to the proper head of account of completed work or in progress. an item lying in an advance or deposited account. Check is used to incur expenses within the company therefore it is written under the head of expenses in the income Statement and is used in Balance Sheet under the head of Statement of Current Account. a debit or credit account. 2. For passing through the books opening and closing entries. It does not involve any cash but works like cash. which will not be of a type that regularly and repeatedly affects only the debt or only the credit side of a particular account. It is a special purpose check which is used only for the internal transactions within the GEPCO. Syed Ashir Riaz (BCMF13M004-) (96) . 3.transactions will be recorded in special registers maintained for this purpose. For recording of such miscellaneous transfer entries every account maintains a journal called General Journal.S CHECK S. There will remain certain other transactions. These miscellaneous transfer entries may be necessary. or in a “clearing” suspense account.S. Since the S. To correct error of classification in the original entry. The assets can include the following. etc. This section is also responsible for charging depreciation on the assets of the company. it record is updated in the asset section of the company. For services rendered  For stationary requisition  For material requisition ASSET In the asset section the record of all the tangible current and fix assets of the company is maintained.  Transformers  Meters  Wires  Poles  Grid Stations  Feeders. Whenever any new asset is asked to be installed in anywhere within the area of jurisdiction of the company. Syed Ashir Riaz (BCMF13M004-) (97) . Pension Section In this section the cases of retirement and after retirement benefits are solved. Also the amount of pension and commutation is determined and paid by the GEPCO. This section has 26 pension disbursement centers which work for providing facility to the retired employees of GEPCO. The employees from other companies like LESCO, PESCO, FESCO and others can also get pension from the disbursement centers of the GEPCO. Also the employees of GEPCO can choose a center of LESCO, FESCO or etc. for their own convenience. When GEPCO pays the pension to any employee of other companies then GEPCO will send a receipt of that payment to the related company and that company will send cash or cheque to the GEPCO for their services. Pension: Pension means the after retirement benefits which are given to employee from the deductions which have been made from the pay of the employee when he was in the service. There are certain deductions which are made from pay of employee like G.P Fund (General Provident Fund) GLI (Group Life Insurance) WW Fund (WAPDA Welfare Fund) and Benevolent Fund. All the pension deductions are sent to the director Fund Lahore from all the offices. Syed Ashir Riaz (BCMF13M004-) (98) GP Fund: It is amount fixed with respect to the grade of the employee. The employees can withdraw from this accumulated deduction whenever they need. The amount has to be refunded if withdrawn before the age of 45 years of employee. The amount withdrawn after 45 is optional at the end of the employee for refunding. Group Life Insurance: Group Life Insurance is the fund deducted and provided to the successors at the death of employee. Another benefit, pay of 180 days, is also given at the death of employee to his successors. Workers Welfare Fund: WAPDA Welfare Fund is provided to successors of the employee at his death and to the employee if he needs during his service for his own marriage or other expenditures. Its main purpose is the welfare of the employees of the company. Benevolent Fund: This fund is also provided to the employees during service and after service. During service the employee can get it for different purposes like for the marriage of his children etc. GEPCO invest these deductions in their own company and also in other companies and the profit earned from the investment is added to the employee and also the employee is provided a written Syed Ashir Riaz (BCMF13M004-) (99) proof of the profit earned and the part added to the employee by the GEPCO. The requirement for able to get pension is that the employee should must have at least 10 years of qualified service at the time of retirement. Qualified Service: It means the service of employee without including the extraordinary leaves. Extraordinary leaves are the leaves of the employee without payment from the company. PENSION CALCULATION For the purpose of calculating amount of pension to be paid to the employee the Gross Pension of the employee is first calculated. Gross Pension= Last pay*(no of years employee served/30)*.70 Last Pay It means the pay of the employee on the date of retirement of the employee. It is the running pay not the basic pay. If the employee has served for the six months of the current year then the Syed Ashir Riaz (BCMF13M004-) (100) increment in the pay which he has to receive at the end of the year will also be added in his last pay. INCREMENT IN PENSION All the further increments will be applicable on the pension. According to the govt policy it is 65% of the gross pension since 2001. Syed Ashir Riaz (BCMF13M004-) (101) . will be added in the form of compounding in his amount of pension. Commutation The percentage of gross pension which is given as lumsum of next 12 years to the employee is called commutation or Gratuity Commutation= 35% of gross pension*12*age factor Age of the employee is calculated as the age of the employee on his next birthday after the date of retirement. not the gross pension. of the employee. All the increment of his pay scale. like pay scale of 2005. Pension This is the percentage of the gross pension which is monthly given to the employee or to his family after his death. FAMILY PENSION The pension given to the family of the employee after his death is called family pension. PENSION DISTRIBUTION NETWORK There are 26 disbursement centers of GEPCO for the distribution of pension. . Syed Ashir Riaz (BCMF13M004-) (102) center. The employee can choose the distribution mentioned on the pension papers.  The daughters of the employee can get pension only before their marriage.  If the wife of the employee is also died then his children are given these benefits.  The sons of the employee can get pension before they reach the age of 21 years. of his own choice. no GLI fund is given in this condition. If the employee died within the service then 50% of the gross pension is given to the widow as pension and 25% of gross pension is given to the widow as commutation.  If the employee died after retirement and he was getting pension then the widow is given 50% of his running pension. GLI fund is also given to the widow in this case. Signs the requisition by pension department & sends to banking section Requisition of Pension fund Chief Executive Pension Department Banking Section Transfer money to the pensioners requested bank Pensioners UBL AUDIT DEPARTMENT Syed Ashir Riaz (BCMF13M004-) (103) Tran sfers the amo unt .  The scales of accommodation and services adopted do not differ from those laid down by the Authority.  The charge is for bonafide purpose. While Auditing the administrative approvals.  The rates of costing in the cost schedules attached to the estimate conform to the prevailing contract rates with the due regard to the local conditions. Technical Sanctions and Estimates followings things will be checked out.Audit Department works in order to avoid common irregularities against expenditure.  Where no definite scale is laid down in the authority’s orders for a particular building the accommodation Syed Ashir Riaz (BCMF13M004-) (104) .  The administrative approval / technical sanction are supported by an estimate that the amount sanctioned in the former is not exceeding that of later.  The authority according the administrative approval and technical sanction is competent to do so.  The work is authorized.  Arithmetical calculations made in the estimate are correct.  In the estimates the authorized percentage for the establishment charges and contingencies has been adopted.  The estimate covers all the possible commitments contingents upon the execution of the work sanctioned. The following points will be seen while auditing the above documents:  Due publicity has been given to invite competitive rates and the time allowed to tenders was according to rules.  The order for re-appropriation of funds is issued by the competent authority. SCRUTINY OF TENDERS ETC.  The order for re-appropriated is available under the head from which it is allotted. AUDIT OF TENDER REGISTER.  Envelopes containing the tenders are on record. newspapers cutting are on record.  The funds are available for the work in the year in which the work is to be executed.  The amount appropriated is available under the head from which it si allotted.technically sanctioned accords with the scales for a building most analogous to it. Syed Ashir Riaz (BCMF13M004-) (105) .  A register of estimates has been maintained to watch the administrative approval and technical sanctions of estimates. D. and once by the XEN.O.  The amount administratively and technically sanctioned has been noted in the tender Register. Syed Ashir Riaz (BCMF13M004-) (106) .  Correction if any have been properly made and attested. In the period of employment.  The attendance has been marked by a responsible official.  The names. their categories. rates and period of employment.  The attendance has been checked twice by the S.  Muster roll is used for daily labour only and each muster roll has been approved and issued by the divisional officer showing the number of labor.  The register of approved contractors/ suppliers has been maintained and kept upto date. The items put to tender are compared with the items in the estimates. AUDIT OF MUSTER ROLLS The following points will be seen in the audit of muster rolls:  The arithmetical calculations in the muster rolls are correct.  All the tenders have been entered in the tender register. parentages. if it is less than one month. addresses and national registration identity card number of laborer have been shown in the muster roll. it any. are correct. where fixed. have not been exceeded.  That the articles are not retained on the account unnecessarily. number and date of the stock verification report is quoted in the stock ledger. Items not operated for six month or over should be specially  Those ledgers are maintained in the prescribed forms and in accordance with the instructions printed thereon.  That there are no erasures and that alterations.  That all entries in the ledger are in ink. Syed Ashir Riaz (BCMF13M004-) (107) .AUDIT OF STORE ACCOUNT: During the audit of store accounts it will be seen:  That the issue rates of material as shown in the value ledger and storage charges.  Check the vouchers for the store issued for internal use or consumption to see that articles are of expendable nature likely to be consumed for the purposes stated and the authorized scales.  That when surplus is credited. have been carried out neatly and attested by dated initials of the officer concerned. as fixed by the store officer. FINANCIAL STATEMENTS Syed Ashir Riaz (BCMF13M004-) (108) . 331 16.893.000.000 (2004: 5.000 693.799.each Issued Subscriber and Paid up Capital Accumulated (Loss)/Profit Deposit For Share Non-Current Liabilities Deferred Credit Long Term Loans Employees Retirement Benefits Security Deposit Current Liabilities Current Maturity of Long Term Loans Creditors. 10/.Gujranwala Electric Power Company Limited(GEPCO) BALANCE SHEET 2006 Rupees 2005 Rupees EQUITY AND LIABILITIES Share Capital And Reserves Authorized Capital 5.165 1.894 3.531.431.784) (803.008.967.131 6.761.540 1.709.473 188.000 (803.514 2.110.000.687.636.162.423.428.043 2.00 0 10.000) Ordinary Share of Rs.200 5.514.916.403.835 4.801 2.057.690.839.255 Syed Ashir Riaz (BCMF13M004-) (109) .000.147.651.545.000.000.893.00 0 50.372.167 3.321.0 00 10.018.000.167.959.244.616 2.000.486.460.529 315.035.262 874.000.685) 3.685) (2.405.584 13.488.045. Accrued And Other Liabilities Total Equity And Liabilities 50. 990.713 .386 3.317 570.09 6.008.560.026 2005 8.667.000.032.055.742.529 19.599 13.637 14.295.245 39.863.418.010.784.598. 2.991 16.835 102.752 145.168.548 5.710 2.440.604 356.ASSETS Non Current Assets Property.000 535.483 2.604.330.271.278.066.422.111 Syed Ashir Riaz (BCMF13M004-) (110) .382.875 Current Assets Stores and spares Trade debts Short term advances Other receivable Short term investment Cash and bank balances Total Assets 402.428.680. plant and equipment Long term advances 2006 9.243.551.911.481. 271.325 OPERATING PROFIT (2.825.317.594 - - (1.145 2.441 198.771.393.701.906.426) Financial Charges Workers Profit Participation Fund 189.100) Accumulated Loss Brought Forward 1.881.270 381.129.539.314 1.278) Syed Ashir Riaz (BCMF13M004-) (111) .176.720.094 OTHER INCOME 647.995.046.008.725.339.935 166.372.159.326.315.617.920 Depreciation On Operating Fixed Assets 447.674 PROFIT / (LOSS) FOR THE YEAR Rates relating To Prior Years (1.408 (1.7701.949 21.017 2.873 166.784 560.213.128.128 446.187 OPERATING EXPENSE Other Operating Cost Excluding Depreciation 2.443.188.287 3.771.693.720.4045 3.264.136.314 3.151.631.282.508 930.606.774.Gujranwala Electric Power Company Limited(GEPCO) INCOME STATEMENT 2006 Rupees REVENUE Electricity sales COST OF ELECTRICITY Gross Profit Amortization of deferred credit 2005 Rupees 22.393.487.734.210) 789.676 890.160 17.945.310.732.053.494 20. 143 Net increase/(decrease)in cash and cash equivalents Cash and cash equivalents at the beginning of the 178.805.593.393.000 11.805.651) Sale proceeds Operating fixed Assets 5.091 533.573 1.741.072.090 107.891.792.685) Gujranwala Electric Power Company Limited(GEPCO) STATEMENT OF CASH FLOW 2006 Rupees 2005 Rupees CASH FLOW FROM OPERATING ACTIVITIES Cash Generated From Operations 1.516.045.032.514 356.903.185.128.002 CASH FLOW FROM INVESTING ACTIVITIES CASH FLOW FROM FINANCING ACTIVITIES Syed Ashir Riaz (BCMF13M004-) (112) .494) Net cash used in investing activities (1.338 Increase/ (decrease) Long Term Loans (277.697.153) (3.645) Deferred Credit received 899.646.38) (979.382) 1.076.504 Fixed capital expenditure incurred (1.959 545.181.052.674) (334.148.940) (192.402) Security Deposits received Net CashFlow Generated From Financing Activities 180.771.500 Long Term Loans given (4.207 803.258) Financial Charges paid Net Cash Gnerated/(Used) From Operating Activities (289.810.598.365.810.592.977.692 98.742.039.722) (150.640.450.177.Accumulated Loss Carried to Balance Sheet (803.144 Employeses Retirement Benefits Paid (170.53) (971.414.121 586. In some cases. ratio analysis can predict future bankruptcy. The following types of ratios frequently are used: Liquidity Ratios Current Ratio Current Assets/Current Liabilities Quick Ratio Absolute Quick Ratio Net Working Capital Ratio Defensive Interval Quick Assets/Current Liabilities Cash/Current Liabilities Current Assets-Current Liabilities Cash/One Year Projected Expenditure Activity Ratios Inventory Turn Over Inventory Turn Over In Days Debtor Turnover Collection Period Working Capital Turnover Fixed Asset Turnover Total Asset Turnover Payment Period Operating Cycle Cost of Good Sold/Inventory 360*Inventory/Cost of Good Sold sales/Trade Debtor 360*Receivable/Sale Sales/Working Capital Sales/Fixed Assets Sales/Total Assets 360*Creditor/Purchase Inventory Turn Over in Days + Receivable Turn Over in Days Solvency Ratios Syed Ashir Riaz (BCMF13M004-) (113) .604 Financial Analysis Financial ratios are useful indicators of a firm's performance and financial situation.090 535.088 356.598. Financial ratios can be classified according to the information they provide. Financial ratios can be used to analyze trends and to compare the firm's financials to those of other firms. Most ratios can be calculated from information provided by the financial statements.295.year Cash and cash equivalents at the end of the year 249.184. Syed Ashir Riaz (BCMF13M004-) (114) . They are of particular interest to those extending short-term credit to the firm. Two frequently used liquidity ratios are the current ratio (or working capital ratio) and the quick ratio.Times Interest Earnes Debt Ratio Equity Ratio Debt to Equity Debt To tangible net worth EBIT/Interest Total Debts/Total Assets Equity/Total Assets Long term debts/Equity Total Debts/(Equity-Intangible Assets) Profitability Ratios Net Profit Ratio Operating Profit Ratio Gross Profit Ratio Operating Ratio Return on Total Assets Return on Equity Return on Fixed Assets Return on Investment Net Profit/Sale Operating Profit/Sales Gross Profit/Sale Operating Expense/Sale Net Profit/Total Assets Net Profit/Equity Net Profit/Fixed Assets Net Profit/Total Assets-Investments-Deffered Cost Market Analysis Degree of Financial Leverage Price Earning Ratio Earning Per Share Book Value Per Share Dividend Yeild Ratio Devident PayOut Ratio Diluted Earning Per Share Percentage of Retained Earnings EBIT/EBT Market Price per share/Earning Per sahre Net Profit/Number of Share issued Total Equity/Number of Share issued Dividend Per Share/Market Value Per Sahre Dividend Per Sahre/Earning Per Share Stock Dividend Per Share/Diluted Earning Per Share (Total Income-Dividend)/Total Income Liquidity Ratios Liquidity ratios provide information about a firm's ability to meet its short-term financial obligations. Quick Ratio The quick ratio is an alternative measure of liquidity that does not include inventory in the current assets.Current Ratio The current ratio is the ratio of current assets to current liabilities: Current Assets Current Ratio = Current Liabilities Short-term creditors prefer a high current ratio since it reduces their risk. The quick ratio is defined as follows: Current Assets . Shareholders may prefer a lower current ratio so that more of the firm's assets are working to grow the business. One drawback of the current ratio is that inventory may include many items that are difficult to liquidate quickly and that have uncertain liquidation values. The quick ratio often is referred to as the acid test. It excludes all current assets except the most liquid: cash and cash equivalents. and notes receivable. firms in cyclical industries may maintain a higher current ratio in order to remain solvent during downturns. These assets essentially are current assets less inventory. For example. The cash ratio is defined as follows: Syed Ashir Riaz (BCMF13M004-) (115) . Cash Ratio/ Absolute Liquid ratio The cash ratio is the most conservative liquidity ratio. accounts receivable.Inventory Quick Ratio = Current Liabilities The current assets used in the quick ratio are cash. Typical values for the current ratio vary by firm and industry. Compute working capital as follows :Working capital=Current Asset-Current Liability LIQUIDITY RATIOS Current Ratio 1.93) 0.Cash + Marketable Securities Cash Ratio = Current Liabilities The cash ratio is an indication of the firm's ability to pay off its current liabilities if for some reason immediate payment were demanded.05 (0. Working Capital: The working capital of a business is an indication of the short-run solvency of the business.91) Quick Ratio Absolute Quick Ratio 1.13 (0.12 2.027) Syed Ashir Riaz (BCMF13M004-) (116) .14 2.05 (0.103 0. Two commonly used asset turnover ratios are receivables turnover and inventory turnover.948 2. Account Receivables Turnover Receivables turnover is an indication of how quickly the firm collects its accounts receivables and is defined as follows: Syed Ashir Riaz (BCMF13M004-) (117) . asset utilization ratios.794.268. They sometimes are referred to as efficiency ratios..Net Working Capital Ratio 843.153.00 liquiditity ratios 3 2 2006 1 2005 0 -2 change Q Ab ui ck so lu Ra te t io Q ui ck R.296. Cu rre nt Ra t io -1 Activity Ratios Asset turnover ratios indicate of how efficiently the firm utilizes its assets. . or asset management ratios. Average Collection Period It is the accounts receivable balance divided by the average daily credit sales. calculated as follows: 360 Average Collection Period = Accounts Receivable Turnover Account Payable Turnover Purchases Account Payables Turnover = Accounts Payables Syed Ashir Riaz (BCMF13M004-) (118) .Annual Credit Sales Receivables Turnover Accounts Receivable The receivables turnover often is reported in terms of the number of days that credit sales remain in accounts receivable before they are collected. This number is known as the collection period. 360 Average Payment Period = Accounts Payable Turnover Fixed Asset Turnover Sale Fixed Asset Turnover = Net Fixed Asset Total Asset Turnover. Sale Total Asset Turnover = Total Assets ACTIVITY RATIOS Debtor Turnover Ratio 9.34 8.95 0.39 2006 38.5 2005 40.21 Change (1.17) Syed Ashir Riaz (BCMF13M004-) (119) Collection Period Working Capital Turnover 26.8 7.28 19.52 Fixed Asset Turnover 2.39 2.52 (0.13) Total Asset Turnover 1.37 1.50 (0.13) Activity ratios 2006 2005 Change Collection Period Debtor Turnover 50 40 30 20 10 0 -10 SOLVENCY RATIOS Ratios 2006 2005 Change Times Interest Earned (-1.40) 4.18 -5.58 Debt Ratio 0.98 0.85 0.13 Equity Ratio 0.02 0.15 -0.13 Debt to Equity 33.25 5.48 27.27 Debt To tangible net worth 33.25 5.48 27.27 Syed Ashir Riaz (BCMF13M004-) (120) solvency ratios 2006 2005 Debt To tangible Debt to Equity Equity Ratio Debt Ratio change Times Interest 40 35 30 25 20 15 10 5 0 -5 -10 Profitability Ratios Profitability ratios offer several different measures of the success of the firm at generating profits. The gross profit margin is a measure of the gross profit earned on sales. The gross profit margin considers the firm's cost of goods sold, but does not include other costs. It is defined as follows: Operating Profit Margin Operating Profit Margin = Operating Profit Syed Ashir Riaz (BCMF13M004-) (121) Sales Net Profit Margin Net Profit After Tax Net Profit Margin = Sales Operating Ratio Operating Expences Operating Ratio = Sales Gross Profit Margin = Sales .Cost of Goods Sold Syed Ashir Riaz (BCMF13M004-) (122) . measuring the profits earned for each dollar invested in the firm's stock.Sales Return On Assets Return on assets is a measure of how effectively the firm's assets are being used to generate profits. Return on equity is defined as follows: Net Income Return on Equity = Shareholder Equity Syed Ashir Riaz (BCMF13M004-) (123) . It is defined as: Net Income Return on Assets = Total Assets Return on equity Return on equity is the bottom line measure for the shareholders. Return on Investment Net Income Return on Investment = Investment Return on Fixed Asset Net Income Return on Fixed Asset = Fixed Assets PROFITABILITY RATIOS Syed Ashir Riaz (BCMF13M004-) (124) . 77 Operating Ratio Return of total asset 15 11.81 6.02 Return on Fixed Assets 20.Ratios 2006 2005 Change Net Profit Ratio (8.19 5.58 2.38 (12.16 Syed Ashir Riaz (BCMF13M004-) (125) .60 12.2 11.88 (13.04 9.88) Gross Profit Ratio 4.78) Operating Profit Ratio (10) 3.87 11.4) 4.1 15. profitibility ratios 25 20 15 10 2006 2005 change 5 ra it tin R g at Pr io G of ro it R ss at Pr io of it O R pe at ra io tin g R R et at ur io n on Fi xe d As se ts 0 O pe Ne t Pr of -5 -10 -15 -20 Syed Ashir Riaz (BCMF13M004-) (126) . Investor Analysis Degree of Financial Leverage EBIT Degree Of Financial Leverage * 100 = EBT Earning Per Share Total Earnings For C.S= Common Stockholders Syed Ashir Riaz (BCMF13M004-) (127) .S Earning Per Share = Number of Shares of C.S Where C. 725.Book Value Per Share Equity Book Value Per Share = Number of Shares INVESTOR ANALYSIS Ratios Degree of Financial Leverage 2006 -0.15 Syed Ashir Riaz (BCMF13M004-) (128) .59 Book Value Per Share 30872.090.0017 2.11 890.85 2005 1.510.43 Change Earning Per Share 190688. W.000 workers approximately. poles.S.  They are the only service provider in the city. wires.  The theft of electricity.T Analysis: The term SWOT stands for o Strength o Weaknesses o Opportunities o Threats Strength The strength of GEPCO are as following.  The strength of GEPCO is their 14.  Bill distribution problem.  There is shortage of materials. Syed Ashir Riaz (BCMF13M004-) (129) .  There are meter-reading problems.  There are unavailable of material at the time of connection. which is uncontrollable.  They are monopolist in the area as well as their parent company WAPDA is also the wholly solely company for providing this service which is the necessity of life in especially urban areas.O. meters and other consumer items .  Meters are defective and there replacement is not available in time. Weaknesses: The weaknesses of GEPCO are as following.  Increasing population is also their opportunity area and they are monopolist of the time in Pakistan. There should be the involvement of employees while assigning them work. As it was controlled little bit but still there is deficiency. Syed Ashir Riaz (BCMF13M004-) (130) . These are their opportunities. o There should be a proper system to control the theft of electricity. Threat The threats of GEPCO are the theft of electricity. It should also be removed by training the meter readers.  Everyone has to come to them for the sake of connection. These are as following o There should be a proper training of employees particularly the employees who are using computers. Suggestions During my internship I observe some activities and I have some suggestions relating to them. o There are meter-reading problems . o The material should be available at the time of connection.Opportunities The opportunities of GEPCO are that  20% of the villages in the Punjab have no electricity. Police back them who stole the electricity. The public Representators. o The work should not be imposed on employees. o There should be a proper reward system so that the corruption of the employees can be removed. o There should be proper internel check system so that working of one employee can be automatically checked by other employee. o The costumers of GEPCO have a major complain about load shading it should be removed. o There should be computerized database system to check the arrival timing of the employees in the company and weekly report about the attendence of employees should be monitored by the top management. o The computer education should be made compulsory for every employee for the better understanding of the system so that errors and mistakes could be removed upto a lot of extent. Syed Ashir Riaz (BCMF13M004-) (131) . Documents Similar To Gujranwala Electric Power Company Ltd 1 [1].Skip carouselcarousel previouscarousel nextCE Payroll IntegrationGenus Power Infrastructures Ltd Research ReportCBfull accept2Smart_grid_deployment_what_weve_done_so_far.pdf51) Gempesaw v. CA (Same as #6)Tline ImpactsAdvanced Mechanical, Electrical and Smart Grid Power SystemsMUSE Priority PointsER-A440 Instruction ManualTorts Damages CasesCOA_M2013-004COA_M2013-004Ifci+Infra+Bonds+Terms+Sept2011Assignment Account ProcedureCOA_M2013-004 CASH EXAM MANUAL.pdfFull Set Applications BiA Two-phase Investment Model for Optimal Allocation of Phasor2012-Equitable Banking Corp. v. Special Steel1972_06919.pdfdownloadCase Study MASSEIannualreport_2014_15CC&ASnego casesUS Federal ReservemmmmmmDevelopment of Merchant Power PlantsFederal Insurance Company, Cross-Appellee v. Ncnb National Bank of North Carolina, Cross-Appellant, Ncnb National Bank of Florida, 958 F.2d 1544, 11th Cir. (1992)Set 8Smart Grid Operational Services - Leveraging Technology to Transform TD Operating Models POVMore From SyedAshirBukhariSkip carouselcarousel previouscarousel nextJohn KotterAdvantages and Disadvantages of Floating Exchange Rates161.docxDoc19-141013044809-conversion-gate02theresearchproposal-100303013047-phpapp02.pptThe Examination Will Include the Following Subjects and Each Subject Will Carry the Marks Shown Against ItAdvantage of Acquisition Areadvanced-quality-auditing.pdf161M.com GeneralCode-BBA-Couse-Details.pdfUnpaid Bil ReportAudit Unilever01 Global War on TerrorEnglish WHISTLE BLOWERpesteanalysisairline-12688951135979-phpapp02BSC_maths_derivative_formula.pdfACCTG222Syllabus Corporate Governance - Level One Module.pdfauditpresentation-121006061658-phpapp02.pptxresearchproposalsample-110216115307-phpapp02.doc2 Anmol Khazaney By Hakeem Muhammad Tariq Mahmood.pdf245167178-Development-of-a-Scale-to-Measure-Professional-Skepticism.pdfAuditdatesheet.pdf1-22013 Whistleblowing SupportOurWork EnShariah FMR Dec 2016Zhp CleanerBest Books About ChequeFaith's Checkbook: Daily Devotions to Treasureby Charles H. SpurgeonBankingby Anthony AnamgbaGnucash 2.4 Small Business Accounting: Beginner's Guideby Ashok RamachandranCash Advance Loans Online: Pay Attention to Financial Repercussionsby Frank CoyBANK-cor-RUPTby Michael Hillier"Life is Good - Once You Know How." (Survival Tips for Young Adults)by Terry W Parsons and Jennifer ParsonsFooter MenuBack To TopAboutAbout ScribdPressOur blogJoin our team!Contact UsJoin todayInvite FriendsGiftsLegalTermsPrivacyCopyrightSupportHelp / FAQAccessibilityPurchase helpAdChoicesPublishersSocial MediaCopyright © 2018 Scribd Inc. .Browse Books.Site Directory.Site Language: English中文EspañolالعربيةPortuguês日本語DeutschFrançaisTurkceРусский языкTiếng việtJęzyk polskiBahasa indonesiaSign up to vote on this titleUsefulNot usefulYou're Reading a Free PreviewDownloadClose DialogAre you sure?This action might not be possible to undo. Are you sure you want to continue?CANCELOK