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    Capital Expenditure

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    nadir
    This 3 sentence summary provides the key details about the Capital Expenditure Planning and Control Policy document: The document outlines the Capital Expenditure Planning and Control Policy for National Power Parks Management Company that requires capital expenditure plans to be approved by the Board of Directors annually and for any changes to approved plans to also require Board approval, with the Chief Financial Officer responsible for developing the plans in alignment with company financial objectives and ensuring proper planning, execution, and control of capital expenditures.

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    Capital Expenditure

    Uploaded by

    nadir
    33 views3 pages
    This 3 sentence summary provides the key details about the Capital Expenditure Planning and Control Policy document: The document outlines the Capital Expenditure Planning and Control Policy for National Power Parks Management Company that requires capital expenditure plans to be approved by the Board of Directors annually and for any changes to approved plans to also require Board approval, with the Chief Financial Officer responsible for developing the plans in alignment with company financial objectives and ensuring proper planning, execution, and control of capital expenditures.

    Original Description:

    Capital expenditures

    Original Title

    8.-Capital-Expenditure

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    This 3 sentence summary provides the key details about the Capital Expenditure Planning and Control Policy document: The document outlines the Capital Expenditure Planning and Control Policy for National Power Parks Management Company that requires capital expenditure plans to be approved by the Board of Directors annually and for any changes to approved plans to also require Board approval, with the Chief Financial Officer responsible for developing the plans in alignment with company financial objectives and ensuring proper planning, execution, and control of capital expenditures.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    33 views3 pages

    Capital Expenditure

    Uploaded by

    nadir
    This 3 sentence summary provides the key details about the Capital Expenditure Planning and Control Policy document: The document outlines the Capital Expenditure Planning and Control Policy for National Power Parks Management Company that requires capital expenditure plans to be approved by the Board of Directors annually and for any changes to approved plans to also require Board approval, with the Chief Financial Officer responsible for developing the plans in alignment with company financial objectives and ensuring proper planning, execution, and control of capital expenditures.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 3

    CAPITAL EXPENDITURE

    PLANNING AND CONTROL


    POLICY
    National Power Parks Management Company

    Ministry of Water & Power Government of Pakistan


    CAPITAL EXPENDITURE Issuing Officer
    PLANNING AND Company Secretary
    CONTROL POLICY
    October 2016
    Target Audience
    All Directors, Management, Finance

    Approving Authority
    Board of Directors

    Issuing Date
    October 2016

    Revision
    Initial Issue

    Copy Rights
    National Power Parks Management Company (Pvt.) Ltd.
    1. BACKGROUND
    Code of Corporate Governance issued by the Securities and Exchange Commission
    of Pakistan (SECP) requires the Board of Directors of a listed/public sector company
    to define and implement the policy for capital expenditure, planning and control.

    2. SCOPE
    2.1 The purpose of this policy is to provide guidelines under which the capital
    expenditure will be approved and prioritized for a fiscal year.
    2.2 This document also provides policy guidance to the management and staff
    on the assessment of the linkage between the capital expenditure planning,
    control and the corporate strategy. This will also help to recognize and
    manage risk and to ensure that capital expenditures are properly monitored
    and tracked.

    3. POLICY GUIDELINES
    NPPMCL’s capital expenditure planning and control policy is based on integrated
    capital spending planning process that aligns expenditures with corporate financial
    objectives of the company. The office of Chief Financial Officer shall plan, execute
    and forecast capital expenditure in a way that ensures accountability, compliance
    with internal controls and identify opportunities for aggregation of spendings and to
    achieve savings.

    4. PLANNING AND CONTROL OVER CAPITAL EXPENDITURES


    In-line with the policy guidance and to ensure the effective planning and control over
    capital expenditures, the office of Chief Financial Officer may:
    4.1 Obtain capital expenditure plans (CEPs) from various wings of the Company
    for review and consolidation purposes. Capital expenditure plans may
    include;
    4.1.1 Previous year’s CEPs and variance analysis report,
    4.1.2 Details of the assumptions and estimates used in the preparation of
    CEP.
    4.2 CEP for the year shall be presented to the Audit Committee for review and
    recommendation to the Board.
    4.3 CEP for the year shall be presented to the Board for approval on or before
    1st July.
    4.4 Subsequent to annual approval by the Board, if there is any change in CEP
    plan during the year; it will be brought to the notice of Audit committee and
    Board for formal approval of the change.
    4.5 Admin wing shall maintain and circulate the approved CEP to all the stake
    holders and shall also maintain and circulate all subsequent amendments of
    CEP.
    4.6 Finance wing shall regularly review individual wing’s CEP utilization.
    4.7 Periodical variance analysis shall be worked out for review and analysis.

    5. CHANGES IN POLICY
    This policy can be changed, modified or abrogated at any time by the Audit
    Committee / Board of Directors of the company.

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