Senior Manager Finance & Taxation
SIX-B FOOD INDUSTRIES (PVT.) LIMITED
Total years of experience :30 years, 11 Months
A leading group in Food Sector in Pakistan, engaged in the business of manufacturing and sales of FMCG products such as Beverages, Juices, Confectioneries and Culinary.
Appointed as Chief Financial Officer to direct the start-up of a complete corporate financial, accounting and internal control system and to make it a growing profitable unit. The previous system was poorly managed and ratio of wastage was on very high side due to poor controls system.
Achievements are:-
• Financing from Financial Institutions: - For expansion plan of industry and for working capital, used own relations with bankers and arranged over Rs. 800 million (both Long-term & short-term financing). Long-term finance used to purchase Factory of almost 20 Acres and heavy machinery.
• Developed the efficient Tax management System. Streamed lines the whole Sales Tax & Income Tax system and succeeded to save millions of hidden taxation losses.
• Re-structured the complete corporate financial, accounting, taxation and internal control systems from scratch
• For better control on pilferage, wastage and to achieve the goal of effective Controls, discussed and convinced the Owners to implement one of the best ERP “SAP Business One” consisted of Purchase, store, production, sales and financial integrated modules. Achieved this goal of implementation of “SAP B One” in very short span of time.
• Through better planning of procurement of materials and strict inventory controls, achieved goal of reduction of cost of inventory, wastage and inventory carrying cost up-to 30%.
• Provided Sales targets to the Sales team with better competitive pricing to achieve the goal of enhancement of profitability. Monitored sales achievements against targets at optimum cost level through effective reporting to avoid any de-tracking.
• Acted as an internal financial and management consultant to guide operating teams in achieving profit and performance goals.
• Re-considered costing methods of Products for Exports that resulted enhancement of Exports to different countries.
• Performed cash flow forecasting, budgeting and working closely with the operations and project teams in analyzing margins, variances and cost analysis.
May 2008 ---To Nov 2012
& Feb. 2014 to Feb. 2016
It is a highly reputed hospitality company with well-known brand name of “Salt n’ Pepper Restaurants” & “Salt n’ Pepper Village”. The company has its restaurants in different cities of Pakistan.
Appointed as Chief Financial Officer. Responsibilities includes overall functions of Finance, Accounts, Taxation, Budgeting, up-gradation of internal control. Arrangements of Funds from Financial Institutes / Banks. To keep the financial records in according to the requirements of Tax laws to avoid undue tax burden. Generating and presenting different MIS reports necessary for development of business.
Achievements are:-
• Developed and implemented complete corporate financial, accounting and internal control systems.
• Re-structured complete corporate setup and Converted different AOP firms into private limited company for maximum Tax benefits and better management controls
• Implemented strict operational and inventory controls to minimise the food cost and kept the food cost at optimum level
• By implementation of major business structural changes and effective internal controls, reduced the overhead cost by more than 25%.
• By implementing strong controls, succeeded to keep food cost % age at optimum level with respect to Sale price.
• Arranged financing facilities of more than Rs. 300 million from financial institutions for working capital and renovation of restaurants.
• Performed cash flow forecasting, budgeting and working closely with the operations and project teams in analysing margins, variances and cost analysis.
• Arranged finances for branch in U.K.
• Supervised UK branch remotely from Pakistan.
• Prepared Feasibility study / Business plan for Franchises in different cities.
It is a Siddiq Shafi Group Company engaged in Manufacturing of Leather Footwear with famous brand names "Urban Sole" and "Pierre Cardin". It is a well-known company having good sales in local as well as in international market.
Appointed as Senior Manager Finance & Taxation, directly reportable to CEO of the company
Achievements are:-
• Overall control on smooth running of ERP "Microsoft AX Dynamics".
• Timely Monthly, Annual Financial reports and dealing with external Auditors.
• Funds management, Analyze cash flow and financial statements to pinpoint potential weak areas
• Budgeting and budget analysis with actual expenses / costs.
• Cost Analysis resulting reduction in wastages
• Dealing in all matters of Income Tax, Sales tax including supervision of monthly / quarterly / annual filing of returns to Federal Board of Revenue
• Ensured Sales Tax refunds
• Ensured that effective internal controls are in place and ensure compliance with applicable accounting standards.
• Provide executive management with advice on the financial implication of the organizational activities and Tax matters
It is a multinational company doing business as “Internet Service Provider”.
Job includes overall function of Accounts, Taxation, Stores and Receivables.
Main achievements:
• By effective monitoring, reduced days of receivables and recovered the stuck amounts of almost 30 Million
• Helped successful implementation of new ERP (Microsoft Great Planes)
It is a manufacturing company doing the business in the field of Edible Oil extraction from seeds.
Job includes overall functions of Finance, Accounts, Taxation, Budgeting, internal controls and supervision of Administration departments.
Main achievements:
Streamlined the overall accounts and taxation systems and managed to save Sales Tax of over 15 Million
It is a pharmaceutical company. Manufacturing medicine and supplying all over the country
Job includes overall function of Finance, Accounts, Taxation, Budgeting, Stores, costing of products, up-gradation of internal control. Supervision of Administration and labour departments
Main achievements:
• By implementation of proper internal control and avoiding excessive wastage reduced the costs almost 20%
• Streamlined the Administrative and Labour issues within the parameters of law.
• Successful implementation of ERP from manual systems.
It is a manufacturing company doing the business in the field of preparing home appliances.
Job includes supervision, Accounts and Store Departments
CA Inter -1
B. Com