ANNUAL REPORT 2019 Sialkot International Airport Limited CONTENTS Vision & Mission 02 Form 34 28 Values & Goals 03 Auditor’s Report 30-31 Chairman’s Message 04 Balance Sheet 32 CEO’s Message 06 Profit and Loss Account 33 Milestones 10-11 Statement of Comprehensive Income 34 Company’s Profile 12-15 Statement of Changes in Equity 35 Company’s Information 16 Statement of Cash Flow 36 Notice of Annual General Meeting 17 Notes to the Financial Statements 37-70 Directors’ Report 19-23 Form of Proxy 72 Directors’ Report (Urdu) 24-27 Form of Proxy (Urdu) 73 Annual Report 2019 1 VISION & MISSION Vision — Sialkot International Airport, a World class airport, to become world’s number one for services to airlines and passengers; an international gateway; and airport of choice for customers. Mission — “To build, own and operate a business oriented airport in a safe, efficient, and fiscally responsible manner and provide superior standards of customer service and excellence, while maintaining the highest levels of safety, convenience and efficiency” 02 Vision,Sialkot Mission, International Values Airport & Goals Limited VALUES & GOALS To comply with federal, provincial, To maximize level of proficiency, and local regulations, with special performance and productivity of the emphasis on safety, environmental organization. protection, public service, community involvement and equity. To identify opportunities in augment- ing fiscal options to enhance capital To empower every member of the investment, operating and mainte- team to provide value to processes, nance projects through public-private products and services. partnerships. To develop and maintain a world class To embrace and nurture quality airport that will serve as a gateway culture in order to achieve continuous to Pakistan and a hub of commercial improvement. activity for the local community. Annual Report 2019 03 CHAIRMAN’S MESSAGE 4 Sialkot International Airport Limited In the field of aviation, Sialkot Taking great interest in facilitating our customers and giving International Airport Limited care to their problems is the traditional attribute of SIAL. Plug and play of its substantive role towards the benefaction (SIAL) is actually a subtle delivery of public and state growth is noteworthy. Ongoing of a far sighted notion of Sialkot’s development of infrastructural means around the SIAL (i.e. business community. Generally Sialkot-Lahore Motorway, construction of Shahbazpur Bridge on the River Chenab etc.) is a positive sign from the speaking, today’s SIAL is being government side. recognized globally as a role model and a great example in I admirably tribute the enviable conceptual approach of the founders of this unique project. Applauding the pivotal role aviation sector. of management and staff, I proffer my vote of confidence before the valued shareholders that SIAL is rightfully moving towards more success. Nadeem Anwar Qureshi Chairman Annual Report 2019 05 CEO’S MESSAGE 6 Sialkot International Airport Limited Year 2018–19 has witnessed enhanced development, administrative and operational activities. The results achieved have been highly commendable. Working within the obtaining economic and security environment, the Company continued to move forward with highly appreciable efficiency to achieve desired level of excellence in all especially in operational, administrative and financial fields. Despite airport closure for 46 days due to Pakistan Amongst all the stakeholders of aviation sector in – India stand off and repair of existing runway, Pakistan, SIAL is the youngest, thus smaller, but we enhancement in the size and scope of operations intend to be the smarter. May Allah be our guide and especially start of direct flights to Barcelona – Paris and protector. London – SIAL is vivid indicator resolve and robustness of SIAL management. All targets set have been achieved and results are the best to date. This is reflective of SIAL personnel’s sense of duty and dedication to strive towards realization of the vision and mission of SIAL. Maj Gen Muhammad Abid Nazir (R) Chief Executive Officer Annual Report 2019 07 8 Sialkot International Airport Limited Annual Report 2019 9 MILESTONES Project of the Ground Ground Qatar Airways Gulf Air started Airport started Breaking Handling started Cargo two weekly Ceremony Certificate operations passenger by the Chief obtained flights to Minister of Bahrain 23.1.2003 17.1.2014 18.12.2003 Punjab 05.08.2008 27.10.2008 First testing Inauguration Shaheen Emirates started Aircraft landed of the Airport Air started four weekly by President of Passenger passenger Pakistan flights flights to Dubai (Daily 26.3.2005 18.7.2009 5.11.2013 flights w.e.f. 11.12.2007 1st September 2015) First proving PIA started First ever Hajj Fly Dubai flight of Air Domestic Operations started Blue landed Passenger started three weekly Operations passenger flights to Dubai 29.9.2007 13.3.2013 (Daily flights 30.11.2007 13.11.2009 w.e.f. 13th August 2015) Second proving Issuance Permission First Foreign flight of PIA of Public granted by Carrier (Air landed Aerodrome the Federal Arabia) started License Government to daily Passenger (Domestic/ foreign carriers Flights to International for starting 11.1.2013 Sharjah 20.10.2007 29.10.2007 20.11.2012 operations) operations to/ from SIAL 10 Sialkot International Airport Limited RA3 validation Salam Air Start of PIA from European Passenger direct flight Union for Flights started from/to London movement of Cargo to with 03 weekly (Heathrow- European flights Sialkot- countries (First 17.5.2017 11.9.2019 13.6.2015 Heathrow) organization in the Country to obtain this certification) Qatar Airways Installation Finalization and started 4 weekly of most Award of contract of Perimeter passenger modern Flight flights to Doha Intrusion Information Detection Display System System. After 16.7.2016 Lahore, it will be 30.6.2017 (FIDS) 12.02.2019 the first Airport having this Intruder Alarm System 2nd largest Approval Start of PIA Russian Cargo of land flight from/to Aircraft, AN- acquisition (for Europe (Paris- enhancement Barcelona- 124, landed at of security SIAL perimeter) Sialkot-Paris- 30.6.2017 20.3.2017 Barcelona) under section 20.01.2019 4 of the land acquisition act 1894 was given Installation Inauguration New of Common of International development project of User Terminal Passenger construction of Equipment Terminal Link Taxiway and Baggage Building by No. 02, New Dumbbell at 22- 21.4.2017 Reconciliation Prime Minister End and repair of 08.01.2018 19.11.2018 System (CUTE of Pakistan Existing Runway & BRS) started on 19-11- 2018, presently it is in progress Annual Report 2019 11 COMPANY’S PROFILE By the grace of Allah Almighty, Sialkot International Airport Limited (SIAL) is now a vibrant Company and a well-known name domestically and internationally. In the 12th year of its operations, it has graduated from limited passenger and cargo operations to become the sixth busiest international airport of the Country and growing. 12 Sialkot International Airport Limited COMPANY’S PROFILE This venture in the field of aviation, first of its kind by Salient of Company’s history are being highlighted the private sector was the premier initiative of members to provide a brief overview of the distance we have of the Sialkot Chamber of Commerce and Industries travelled since our inception. (SCCI). The need of the hour was to build an airport within the district of Sialkot to serve the interests of Ground breaking took place in December 2003 and business, trade, commerce and travelling passengers of the first proving sortie landed on 26 March, 2005. The the area. The airport now addresses the requirements first passenger flight (PIA) arrived on 30 November of the third largest exporting zone of Pakistan and 2007 and the first cargo flight (Qatar Airways) on 27 that of a large number of travelling passengers and October, 2008. Today 8 carriers fly to one domestic and expatriate Pakistanis. Located ideally within the ten international destinations with about 58 frequencies “Triangle of Technology”, Sialkot – Gujranwala – Gujrat, per week. Within the next few months presently flying SIAL provides a high quality of aviation services to air carriers will be adding more frequencies and new businessmen, traders, shippers, exporters/importers, carriers will commence operation for SIAL. Currently travelling passengers, Hujjaj and Zaireen. under one million passengers travel through SIAL both ways and numbers are rising. SIAL has thus linked the area to the rest of the Country and to the most desired international destinations.The Development of new and extensive communication Company’s contribution towards economic uplift of the network within the zone by the Government will provide area and towards the national economy is visibly felt in better quality and shorter road linkages to a greater various quarters. number of surrounding districts. The main ones are; the motorway Annual Report 2019 13 14 Sialkot International Airport Limited COMPANY’S PROFILE being built from Lahore to Sambrial and a bridge Information Display System (FIDS) have been installed. being built on the Chenab River at Shahbazpur to link The Company lays great emphasis on enhancement of Gujrat with Sambrial. This will shorten the distances the technical and operational proficiency of its Human substantially and will open up links with Mirpur, AJK Resource. We also give due importance towards the also. welfare of our personnel, who are the backbone of our Company. Keeping in view the above developments, SIAL is positioning itself to handle a much greater passenger SIAL continues to strive ahead towards increasing and and cargo movement. The Capacity Building includes enhancing the services that we provide, to the best of development of airside and land side Infrastructure, international standards to all those who use our airport induction of additional Ground Handling Equipment – from the exporters/importers, travelling passengers to and state of the art IT based technology and induction the airlines that carry them or their goods.