PUNJAB ENERGY HOLDING COMPANY (PVT) LTD.ENERGY DEPARTMENT, GOVT. OF THE PUNJAB

8 Floor, EFU House, Jail Road, Lahore.th

Ph: 042 99268017-19. Fax: 042 99268016

Annual ReportAnnual ReportAnnual Report201720172017

ContentsContentsContents

070707Pattern & Categories

of Shareholding

030303Vision, Mission, Core

Values & Corporate Strategy

010101Corporate Information

090909Statement of Compliance

with Public Sector Companies(Corporate Governance)

Rules, 2013

191919Financial Statements

for the year endedJune 30, 2017

080808Review Report to the Members

on Statement of Compliancewith Public Sector Companies

(Corporate Governance)Rules, 2013

040404Directors' Report

020202Notice of AnnualGeneral Meeting

161616Auditors' Report to the Memberson Financial Statements for the

year ended June 30, 2017

Form of Proxy

343434

Board of Directors Mr. Tariq Kirmani Chairman

Mr. Muhammad Jehanzeb Khan Director

Mr. Iftikhar Ali Sahoo Director

Dr. Asad Rehman Gilani Director

Dr. Arshad Mehmood Director

Mr. Usman Ahmad Choudhary Director

Mr. Arif Saeed Director

Mr. Khalid Rahman� Director

Mr. Farhat Ali Director

Syed Munsif Raza (Joined during the year) Director

Mr. Khalid Walid Shariq (Resigned during the year)

Chief Executive Officer Dr. Asad Rehman Gilani

Board Audit & Mr. Arif Saeed Chairman

Finance Committee Mr. Khalid Rahman Member

Mr. Farhat Ali Member

Mr. Usman Ahmed Choudhary Member

Board Human Resource & Mr. Tariq Kirmani Chairman

Compensation Committee Dr. Asad Rehman Gilani Member

Dr. Arshad Mehmood Member

Board Technical Committee Syed Munsif Raza Chairman

Mr. Khalid Rahman Member

Mr. Farhat Ali Member

Auditors M/S KPMG Taseer Hadi & Co., Chartered Accountants

Bankers to the Company The Bank of Punjab

Energy Department, Govt. of the Punjab, Registered Officeth EFU House, 8 Floor, Jail Road, Lahore.

CORPORATE INFORMATIONCORPORATE INFORMATIONCORPORATE INFORMATION

01

stNOTICE is hereby given that 1 Annual General Meeting of Punjab Energy Holding Company (Pvt) Ltd. will

be held on Tuesday, November 28, 2017 at 10.00 a.m. at Registered Office, Energy Department, Govt. of the thPunjab, 8 Floor, EFU House, Jail Road, Lahore to transact the following business:

1.� To receive, consider and adopt the audited financial statements of the Company for the years ended

June 30, 2016 and June 30, 2017 together with Directors' and Auditors' Reports thereon.

2.� To appoint Auditors and fix their remuneration for the year ending June 30, 2018.

3.� To discuss any other business with the permission of the Chair.

� � � � � � BY ORDER OF THE BOARD

Lahore (ZIA UR REHMAN)

November 06, 2017 Company Secretary

� � � � � � � �Notes:

1.� Share transfer books of the Company will remain closed from November 20, 2017 to November 29, 2017 (both days inclusive).

2.� A member entitled to attend and vote at this meeting may appoint another member as proxy to attend and vote instead of him. The instrument of proxy must be received at the Registered Office of the

thCompany, Energy Department, Govt. of the Punjab, 8 Floor, EFU House, Jail Road, Lahore not less than 48 hours before the time of holding the meeting.

3.� In case of corporate entity, a resolution / power of attorney from Board of Director's with specimen signatures of the nominee shall be produced at the time of the meeting. A proxy representing a Corporation or company must himself be a member of the Company.

4.� Form of proxy shall be witnessed by two (2) persons whose names, addresses and C.N.I.C numbers shall also be mentioned on it.

5.� Members are requested to intimate any change in their address.

NOTICE OF ANNUAL GENERAL MEETINGNOTICE OF ANNUAL GENERAL MEETINGNOTICE OF ANNUAL GENERAL MEETING

02

Vision

“To grow as dynamic E&P Company focused on realizing the full potential of Punjab as well as

National hydrocarbon resources”

Mission

“To exploit & optimize the value of Punjab as well as National hydrocarbon resources through

participation in potential opportunities.

To attract domestic and foreign investment for exploration and production of hydrocarbon

resources.

To care for the environment, respect diverse cultures of communities where we operate and conduct

all operations with high Health Safety Security & Environmental standards”.

Corporate Strategy

“Punjab Energy Holding Company (Pvt) Ltd. aims to fulfill the gap between oil & gas demand &

supply through establishing and maintaining participation in potential hydrocarbon opportunities.

For this purpose, the Company attract domestic and foreign investment in the country. The ambition

of the Company is to strengthen its position as a leader to exploit & optimize the value of Punjab as

well as National hydrocarbon resources”.

Statement of Ethics and Core Values

Ø The achievement of an ethical work environment is a shared Shared Responsibility:

responsibility among directors of the Company, senior officers and all employees.

Ø Interaction among employees of the Company should be characterized Intellectual Honesty:

by the elements of truthfulness, openness to new ideas and consideration for the rights of others.

Ø We work for excellence, innovation, boldness & quality for achieving hydrocarbon Excellence:

needs of the country.

Ø We hold ourselves accountable as professionals at all times.Accountability:

Ø We value our colleagues and work together as a team.Teamwork:

VISION, MISSION, CORE VALUES & CORPORATE STRATEGYVISION, MISSION, CORE VALUES & CORPORATE STRATEGYVISION, MISSION, CORE VALUES & CORPORATE STRATEGY

03

04

Directors Reportfor the Year Ended 30 June 2017

05

06

07

PATTERN & CATEGORIES OF SHAREHOLDING PATTERN & CATEGORIES OF SHAREHOLDING PATTERN & CATEGORIES OF SHAREHOLDING

199,991

Pattern of ShareholdingAs at June 30, 2017

Categories of ShareholdingAs at June 30, 2017

08

31-10-2016

09

SCHEDULE-l

10

11

12

13

14

15

16

17

PUNJAB ENERGY HOLDING COMPANY (PRIVATE) LIMITED

Financial Statements for the period ended

30 June 2017

18

19

20

21

22

23

24

25

26

IFRS standards 2014-2016

27

28

29

30

31

32

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Intentionally Left Blank

Folio No.: ______________

I/ We ____________________________________ of ___________________________________________

(full address) being the member(s) of PUNJAB ENERGY HOLDING COMPANY (PRIVATE) LIMITED

hereby appoint Mr. / Mrs. /Miss _______________________________ of (who is also member of the

Company vide Registered Folio No. ____________ (being member of Company) as my/ our Proxy to attend at st

and vote for my/ us and on my/ our behalf at the1 Annual General Meeting of the Company to be held on th

Tuesday, November 28, 2017, at 10:00 a.m. at Energy Department, Govt. of the Punajb, 8 Floor, EFU

House, Jail Road, Lahore and at any adjournment thereof.

Signed this____________________ day of___________________ 2017

____________________� � � � � � � � (Member's Signature)

� � � � � � � � Affix revenue stampof Rs.5/-

WITNESSES:

Signature: __________________� � � Signature: ______________________Name: __________________� � � Name: ______________________Address: __________________� � � Address: ______________________CNIC No.: __________________� � � CNIC No.: _______________________

� � � �Date: ____________________

Place: ____________________

Note:1.� This form of Proxy, in order to be effective, must be deposited duly completed, at the Company's

thRegistered Office at Energy Department, Govt. of the Punjab, 8 Floor, EFU House, Jail Road, Lahore not less than 48 hours before the time of holding the meeting.

2.� A Proxy must be a member of the Company. Signature should agree with the specimen registered with the Company.

FORM OF PROXYFORM OF PROXYFORM OF PROXY

34

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