PUNJAB STATE POWER CORPORATION LIMITED

• In light of the above mentioned restructuring and post reform challenges, PSPCL requiresconsultancy support for institutional capacity building consisting of process study,organizational restructuring if required, defining key performance indicators (KPIs),preparation of manuals relating to Financial accounting, Budgeting, Internal audit andinternal control system, cost system and implementation support for improvement ofprocesses in the finance and accounts function.ObjectivesThe objective for conducting this study for PSPCL is to:• Identify areas for efficiency improvement measures in the processes of accounts and finance,and reengineering of existing processes to improve the financial function effectiveness;• Standardize various procedures and processes, by developing and documenting the manualswith respect to:- Financial Accounting manuals;- Budget manuals- Audit & Internal Control Systems;- Costing system as per the mandatory requirement to maintain cost record inaccordance with the cost accounting record rules-2001.• Strengthen the decision making process of the management of PSPCL by identification offinancial key performance indicators of individuals, and at various levels of the organization;• Optimize resource strength through organization restructuring, if required and redesigning;and• Enhance skill set of the staff through capacity building measures and training.Detailed scope of workThe assignment is divided into two phases. Phase I will include the following five modules:Phase IModule 1: Study of existing processes/ systems in respect of accounts, audit and financefunctions, identify process gaps and suggest improvementsThis module would cover the study of existing accounting and financial processes / systems toidentify the weaknesses (if any) of the existing processes / systems. The study would also coverthe comparison of the existing processes / systems with the best practices in the sector. Based onthis gap analysis study and identified areas for improvement in the existing processes / systems,the consultant would be required to recommend reengineering of various financial managementprocesses to enable PSPCL to align with best practices in the sector. Various activities involvedunder this module would be as follows:24