Muhammad Farooq

Key achievements are:
• Briefed the Board on Financial Planning Strategy on macro-economic challenges and recommendations on geographical diversity.
• Led the Corporate tax planning for UAE operations.
• Implemented budgetary controls over project margins with defined matrix of authorities to keep the management aware for any significant variation in future profitability.
Core responsibilities are:
• Financial Planning, analysis, and budgeting: Monitoring of financial KPIs, evaluate divisional performance.
• Financial Reporting and Forecasting: Ensuring best practices within Group policies, taking strategic decisions.
• Compliance with Regulators monitoring of taxation in sales and income tax in Pakistan and VAT and corporate tax in UAE & Qatar. The compliance with PSX & SECP in Pakistan.
• Treasury: Managing operating cashflows, business financing needs and investment portfolio.
• Management Reporting: Reporting on project evaluation, cost optimisation, bid reviews and operating cash flows. Review of internal controls including audit plan and risk KPIs.
• Projects Financial business partnering, Commercial finance, Bid evaluation, budgeting, Cost controls & revenue recognition.

PEL is the Pioneer manufacturer of Power / Electrical goods in Pakistan. Through technical advancement and development, the company is leading in power product and home appliances market. The biggest manufacturer in power sector of Pakistan and listed on PSX. Annual turnover of PEL is around 40 billion PKR. My core responsibilities were;

• Management reporting on monthly profit & loss including variance analysis with budgeted targets.
• Statutory reporting on periodic and annual including annual report printing and presentation to Board.
• Supervision of various section of accounts;
 Inventory  Fixed assets  Purchases
 Receivables  Creditors  Receipt & Payments
 Sales & Commission  Payroll  Other income/waste
 IT-Audit  Corporate Compliance
• BOD Presentation for Quarterly and annual performance.
• SOP implementation: Worked as a member of SOP implementation team and reporting of status to directors;
• Compliance: Compliance of Boards’ decisions regarding previously reported observations by internal and external auditors;

At Kohinoor Mills Limited, I worked as finance head of Retail division named Q Mart Corporation (Private) Limited. Q Mart has six mega departmental stores in different cities of Pakistan, having centralized operations at head office based in Lahore;
My Core responsibilities were to head Oracle R12i implementation & internal audit function of the retail division where main challenge as usual in retail world was inventory management. Apart from this following was also included in tasks;

 Cash flow  Fixed assets  Purchases
 Receivables  Creditors  Feasibilities
 Sales & Commission  Payroll  Inventory
 IT-Audit  Corporate Compliance