PAK ELEKTRON LTD.

INTERNSHIP REPORT
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SUBMITTED BY: MUHAMMAD MUAVIA KHAN

SUBMITTED TO: H.R DEPARTMENT
INTERNSHIP AREA: FINANCE

COMSATS Institute of Information Technology, Lahore

 EXECUTIVE SUMMARY

Pak Elektron Limited (PEL) incorporated in Pakistan on March 03, 1956 as a public limited
company under the companies Act, 1984 (replaced by companies’ ordinance 1984).
Registered office of the company is situated at 17 Aziz Avenue, canal bank Gulberg_ V
Lahore. The company is currently listed on all three stock exchange of Pakistan. The
principal activity of the company is manufacturing and sales of electrical capital goods and
domestic appliances. These activities are organized under following divisions.

Pak Elektron Limited (PEL) is the well renowned company in home appliances sector,Power
division: manufacture of switchgear, energy meter, and transformers. Appliances division:
manufacture and assembling of refrigerators, air conditioner, microwave oven, television and
washing machine. But now the company has strategic partnership with LG.

This report includes the key learning. During my internship i worked in finance department
and the account department. The learning and the process is including in this report. The
improvements which I observed during my internship are also the part of this report. The
financial position and the strategies of the companies are the part of my learning and the
improvements and the current flow system is the part of this report.

My evaluation of the internship process is also part of this organization. The suggestions to
improve the system, the ideas which can be helpful for the organization are also part of the
report. Every one wishes to work with known, valuable and standardized organization. There
are given some reasons to join PEL are given in the end of the report.

The culture /process and product of the company was also part of observation, comments
and ideas about the company is also part of in the report. How this internship have a link with
my qualification, what I have studied and how my study helped me to learn the process and
flow of work in the organization. The overall view of my internship and the feedback is
present in the organization.

COMSATS Institute of Information Technology, Lahore

 KEY LEARNING’S DURING INTERNSHIP

During my internship I worked in FINANCE & ACCOUNTS departments. In finance

department I analyzed financial position of company, sales, earning per share, profit,
liabilities and assets of the company. Further in

Finance department I worked in different sections of finance department.

Logistics section:
This section is relevant to the material.
Here I came to know the procedure and tasks of the material section.

• daily check on production

• controlling the production plan for the future
• control on orders in hand

What is the documentation in this section and working of the work?

Corporate finance:
Corporate finance section is the main part of the finance department.

• Leasing
• Guarantee
• Loan

Here learned about the leasing, machinery leasing and vehicle leasing etc.
Worked about bank guarantee, why it need to get the bank’s guarantee?

Budgeting:
The learning in this section was to prepare the budget for all the different sections and the
departments

Allocation of budgets for different departments.

Treasury:
The learning in this section was based on the different tasks of the section.
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This section directly relates to the cash and cash affairs
Inflow and outflow of cash was the basic work of this section..

• Collection
• Payments

This section deals with

• Bank dealing

• Fund payments/collection

• Updating banks

• Foreign payments

• Export transactions
Pre-shipment:
The learning in this section was the different steps of the work

• Tender

• Bidding

• Acceptance

• Purchase order
• Inspection

• Learned about the work, how to perform etc.

• Flow of work in the finance department.

Accounts department:
In accounts department we worked in different section of the

• Costing
• Inventory
• Payable
• Payrolls
• Taxes

In this department we worked on

• Payment and collection of funds

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 • Prepare voters
• Invoices
• How to control inventory
• How to calculate salaries, bonuses, and funds?
• Allocation of expenses, reimbursement of expenses to employees.

AREAS OF IMPROVEMENTS

It was a great experience to work in PEL. I got there experience for my professional field.
Here I found every thing so impressive, mannered, regular, and learning.

In my observation in this so mannered company still need some improvements which can
increase the productivity, goodwill and the loyalty of employees. The increase in theses
field will result the worth of organization.

♦ When I analyzed the annual report of the company I came to know the low
financial position, lot of loans which causes the low growth of the company
and low profit margin.

More the area where it needs to improve that is

♦ Company is in over trading condition

♦ Here need to improve the “gradually decreasing share price”.
♦ Financial charges must decrease.

Administration improvements:

♦ There is no differentiation between the employees through their post,

designation etc.
♦ Here must be identity in sitting of E1, E2, and E3.

♦ Here need to improve the training system of internees.

♦ Improvements required in their training system, sitting places in department
and their duration in the company

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 ♦ The timings of duty of internees should less then the employees.
♦ Internees must be given a lecture about the working in any specific section.
♦ Mess also requires improvement in quality as well as quantity.

SUGGESTIONS TO IMPROVE PROCESSES/ PRODUCT AND CULTURE

PAK ELEKTRON LTD is company which has a standard in the companies of Pakistan. PEL
has disciplined and ethical groups of employees.

There is a better portfolio of the company. Have I disciplined and mannered way of working.
But in some areas need to improve some things which are beneficial to the company.

Process:
Organization portrays the scene of centralized culture.

In organization is lack of employee empowerment. There should be direct communication

between manager and the employee who doing some work.

Huge documentation is used in organization.

Culture:
Lack of female staff shows the gender discrimination in organization.

Female internees must be given a separate room for prayer.

There should be the valuable identity of the company in performing the social
responsibilities like charity, helping poor students.

PEL should be known as environmental friendly organization.

Product:
Company should have a visible competitive edge on competitors about products and
services.

• Quality of products needs more improvements

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 • The shape and the designing of the products should attractive.

• Low cost products as compared to competitors must be prepared.

• There is much lack of advertisement of POWER DIVISION products.

• There should be given the packages in different appliances products.

EVALUATION OF INTERNSHIP PROGRAM

Internship is based on two steps first study and then practical work.
Study: which internee done before he comes in organization
Practical work: the basic aim of internee to join the organization
Practical work involves

♦ Overview of work
♦ Documentation of work
♦ Practical work

Internship at PEL:
Here in internship at PEL it was based just on

• Overview of work

• Documentation of work and the flow of work.

• But there is lack about to train the internee through practical work.

• There is a gap between the internees and the employees. And this gap causes
the lack of practice or work for internees. We could not do as much as practical
work here.

• We got the knowledge about the departments and different sections in

departments about their responsibilities, their tasks and their functions.

• We got, what document is in use in which work.

We worked in account and finance department. Here the learning was

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 • Financial position of company
• Their process of financing
• Software of account which is in use in organization.
• Learned about their compensation and facility
• Learned about leasing, budgeting, corporate finance, deals with banks.
• Strategies about financing. In accounts
• Expense management
• Inventory control.
• Payable and receivable funds process.

LINK BETWEEN QUALIFICATION AND INTERNSHIP

PROGRAM

My qualification is MBA-Finance. And I worked in finance department and accounts

departments. This is totally relevant to my qualification.

Qualification:
During my finance study I learned

• How to prepare financial strategy for any business?

• How to prepare the journal, ledgers, profit and loss statement and the balance
sheets?

• How to prepare budget for any special job?

• The process of costing.

• The system of payrolls

• The process of cash inflow and out flow. Etc.

Internship:
During my internship I also worked on these points also

• Here I knew what the process to perform all these works is.

• There is a huge difference between the theory and the practical work of
finance.
• during internship we practice

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 • How to prepare invoice or any financial document?

• Practical examples of financial conditions of company.

• Letter of credit procedure.

• Payroll system.

• How to manage expenses?

• How to prepare budget?

• Which strategy is suitable for which condition?

PEL AS A FUTURE EMPLOYER

Every one wishes to work in known, standard and valuable firm. And it would be a great
experience and wish to work in PAK ELEKTRON LTD .there is some reasons to be
employee in PEL.

Pak Electrons Limited is known for its continuous research and development and transfer of
technology from abroad.

• There is strong position of the company which appeals the graduates to work with
PEL.
• There are chances to work in PEL because there most departments in the company.
• In the many departments of the company there are chances to have many vacancies
in the company.

• There are some reasons to join PEL

• There is a strong portfolio of the company which attracts the people.

• There are chances to learn more and more because advanced system are in use in
PEL.
• Most advanced software of accounts is in use in PEL.

• There are more chances to learn and be up to date.

• A strong package and compensation is a reason to be a part of PEL.

• Facilities and the reimbursement of expenses is also attractive part to be part of

PEL.

COMSATS Institute of Information Technology, Lahore

 TABLE OF CONTENT

EXECUTIVE SUMMARY...................................................................................................... 2

KEY LEARNING’S DURING INTERNSHIP.............................................................................3

SUGGESTIONS TO IMPROVE PROCESSES/ PRODUCT AND CULTURE................................6

EVALUATION OF INTERNSHIP PROGRAM..........................................................................7

LINK BETWEEN QUALIFICATION AND INTERNSHIP PROGRAM...........................................8

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