0806 ANNUAL REPORT 2020 VISION To be the leading organization continuously providing high quality cement, excelling in every aspect of its business MISSION and to remain market leader To be a premier and reputable cement in Cement Industry. manufacturing company dedicated to become an industry leader by producing quality products, providing excellent services, enhancing customer satisfaction and maximizing shareholders’ value through professionalism and dedicated teamwork. ATTOCK CEMENT PAKISTAN LIMITED 07 COMPANY INFORMATION Board of Directors HR & Remuneration Committee Laith G. Pharaon – Chairman Agha Sher Shah Chairman Wael G. Pharaon Shuaib A. Malik Member Shuaib A. Malik Abdus Sattar Member Abdus Sattar Agha Sher Shah Company Secretary Sajid Nawaz Irfan Amanullah Babar Bashir Nawaz Chief Financial Officer Chief Executive Muhammad Rehan Babar Bashir Nawaz Auditors Alternate Directors A.F. Ferguson & Co. Shuaib A. Malik Chartered Accountants Irfan Amanullah Audit Committee of the Board Legal Advisor Agha Sher Shah Chairman M/s. HNT & Associates Shuaib A. Malik Member Abdus Sattar Member 08 ANNUAL REPORT 2020 Bankers Plant The Bank of Punjab 1. Hub Chowki, Lasbella Faysal Bank Limited Baluchistan Allied Bank Limited MCB Bank Limited 2. Cement Grinding Unit Askari Bank Limited Industrial Sector, Land No. 1/7, Sector United Bank Limited 56, Al-Arquli Al Janobi, Khor Al-Zubair, Habib Bank Limited Basra, Iraq. Bank Al-Habib Limited Meezan Bank Limited Share Registrar National Bank of Pakistan Limited M/s. FAMCO Associates (Private) Ltd. Dubai Islamic Bank Limited 8-F, Near Hotel Faran, Nursery, Block-6, PECHS, Shahra-e-Faisal, Karachi Registered Office Tel: (92-21) 34380101-5, D-70, Block-4, Kehkashan-5, (92-21) 34384621-3 Clifton, Karachi-75600 Fax: (92-21) 34380106 Tel: (92-21) 35309773-4 UAN: (92) 111 17 17 17 Fax: (92-21) 35309775 Email: [email protected] Web site: www.attockcement.com ATTOCK CEMENT PAKISTAN LIMITED 09 BOARD OF DIRECTORS Laith G. Pharaon Chairman Non Executive Director A businessman and an international investor who has financial and trading interests in Pakistan and other parts of the world in various sectors like petroleum, power generation, chemical, real estate and cement etc. Mr. Laith holds a graduate degree from the University of Southern California. OTHER ENGAGEMENTS Chairman & Director Attock Petroleum Limited The Attock Oil Company Limited Director Pakistan Oilfields Limited Attock Refinery Limited National Refinery Limited Attock Gen Limited 12 ANNUAL REPORT 2020 Wael G. Pharaon Shuaib A. Malik Non Executive Director Non Executive Director A businessman and an international investor who has financial Mr. Shuaib A. Malik has been associated with Attock Group of and trading interests in Pakistan and other parts of the world Companies for around 35 years. He started his career as an in various sectors like petroleum, power generation, chemical, Executive Officer in The Attock Oil Company Limited in July, real estate and cement etc. Mr. Wael holds a graduate degree. 1977 and served in different Companies in the Group at He is a Director on the Board of various Companies in the various times with the responsibility to supervise and oversee Group. the operations and affairs of these Companies. He has exhaus- tive experience related to various aspects of upstream, OTHER ENGAGEMENTS midstream and downstream petroleum business. He obtained Director his bachelor’s degree from Punjab University and has attended The Attock Oil Company Limited many international management programs, workshops and Pakistan Oilfields Limited conferences including two such programs at British Institute of Attock Petroleum Limited Management, UK and Harvard Business School, USA. Attock Refinery Limited Presently, he is holding the position of Group Regional Chief National Refinery Limited Executive of the Attock Group of Companies besides being the Attock Gen Limited Director on the Board of all the Companies in the Group. OTHER ENGAGEMENTS Chairman, Chief Executive Officer, Director & Alternate Director Pakistan Oilfields Limited Chairman, Director & Alternate Director Attock Refinery Limited National Refinery Limited Chief Executive Officer & Director The Attock Oil Company Limited Attock Petroleum Limited Director & Alternate Director Attock Gen Limited Resident Director Pharaon Investment Group Limited (Holding) S.A.L. ATTOCK CEMENT PAKISTAN LIMITED 13 Abdus Sattar Agha Sher Shah Non Executive Director Independent Director Mr. Abdus Sattar has over 35 years of Financial Management Agha Sher Shah is currently Chairman and Chief Executive of experience at key positions of responsibility in various Bandhi Sugar Mills. Prior to his current role, he was Senior Government organizations / ministries, commercial Portfolio Manager in Abu Dhabi Investment Authority (ADIA), organizations with the main objective of controlling costs of one of the largest sovereign wealth funds in the world. Mr. various commodities, to watch consumer interest, minimize Shah started his career as an investment analyst covering government subsidies, improve government revenues, consumer, energy and finance sectors of the S&P 500 in the eliminate wasteful expenses / leakages, fixation of gas and POL US equity market. In his investment career of 24 years at ADIA prices. After serving as Financial Advisor to Ministry of he has held senior portfolio management positions in US and Petroleum & Natural Resources, Government of Pakistan, he Global equities. He has a Bachelor of Science in Engineering also remained Financial Advisor for Mari Gas Company from Rice University and holds a Master of Business Limited for around 8 years including 6 years as its Director on Administration from Cornell University. the Board. While working as Financial Advisor in Ministry of Petroleum he also served as Director on a number of boards OTHER ENGAGEMENTS like OGDCL, PPL, SNGPL, SSGCL, PSO, PARCO, ARL, POL, Director NRL, PMDC etc. as a nominee of Government of Pakistan for Thatta Cement Company Limited about seven years. He is a fellow member of Institute of Cost and Management Accountants of Pakistan (ICMAP) and was also nominated as council member of ICMAP for three years (Jan 2000 to Dec 2002) by the Government of Pakistan. He has attended many advance financial management courses, programs and trainings in institutions of international repute in Pakistan and abroad. OTHER ENGAGEMENTS Director Pakistan Oilfields Limited Attock Petroleum Limited Attock Refinery Limited National Refinery Limited 14 ANNUAL REPORT 2020 Sajid Nawaz Babar Bashir Nawaz Non Executive Director Director & Chief Executive Mr. Sajid Nawaz is currently serving as a Managing Director of He has over 30 years of experience with the Attock Group. Pakistan Oilfields Limited (POL). He has almost 11 years work During this period he has held various positions in Finance, experience with POL in Senior Management positions. Personnel, Marketing & General Management before being Previously he also served as Chief Executive Officer of POL. He appointed as the Chief Executive of Attock Cement Pakistan has over 30 years of work experience in service with Limited in 2002. Mr. Bashir holds a Master’s degree in Government of Pakistan at various management positions both Business Administration from the Quaid-e-Azam University in within the country and abroad. Due to the nature of posts and Islamabad and at present is also a Director on the Board of all assignments he carries considerable experience of working in the listed companies of the Group in Pakistan. He has attended different environments. He has attended various management various courses, workshops and seminars in Pakistan and courses abroad and in Pakistan, including one month course abroad on the business management and has substantial on International Petroleum Management at Canadian knowledge of the cement industry in Pakistan. Currently he is Petroleum Institute, Canada. also a member of the Management Committee of the Overseas Investors Chamber of Commerce and Industry (OICCI) and All OTHER ENGAGEMENTS Pakistan Cement Manufacturers Association (APCMA). Director & Managing Director Pakistan Oilfields Limited OTHER ENGAGEMENTS Director Director Attock Petroleum Limited National Refinery Limited Alternate Director Pakistan Oilfields Limited Attock Refinery Limited National Refinery Limited Mr. Irfan Amanullah is a Chartered Accountant as well as Cost and Management Accountant by profession. He started his career as a trainee student from A.F. Ferguson & Co., Chartered Accountants, (a member firm of Price Waterhouse Coopers) in 1988. He is a fellow member of both The Institute of Chartered Accountant of Pakistan and The Institute of Cost and Management Accountants of Pakistan. During his career span of over 30 years he has worked with various multinational companies in Pakistan like Unilever Pakistan Limited, Merck Sharp & Dohme of Pakistan Limited and Hinopak Motors Limited. He joined Attock Cement Pakistan Limited in 2000 and since last 21 years he has been associated with this company. Presently he is the Senior General Manager (Finance & Coordination) and in this capacity he has been looking after the Finance, Marketing, Human Resource, Procurement & Planning, Plant Administration & Industrial Relations. As a Business Manager, one of his best achievements was to re-introduce Pakistan Cement at regional level through EXPORTS. He has represented the cement sector of Pakistan at various national and international forums. He remained key speaker on