PAK ELEKTRON LTD.

INTERNSHIP REPORT
.

SUBMITTED BY: MUHAMMAD MOUVIA KHAN

SUBMITTED TO: H.R DEPARTMENT

INTERNSHIP AREA: FINANCE & ACCOUNTS Depts.

COMSATS Institute of Information Technology,

Lahore.
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 EXECUTIVE SUMMARY
Pak Elektron Ltd. 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, 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 Ltd. is the well known company in

Home Appliances Sector,
Power division:
 Switchgear,
 Energy Meter,
 Transformers.
Appliances Division:
 Manufacture and assembling of
 Refrigerators,
 Air Conditioner,
 Microwave oven,
 Television,
 Washing machine.
But now the company has strategic partnership with LG.

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.

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 INTERNSHIP AND LEARNING
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.

1. Logistics section:

This is a material related section. Daily work done in material section is.

 Daily check on production

 Controlling the production plan for the future
 Control on orders in hand

2. Corporate finance:

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

Here learned about

 Leasing
 Guarantee
 Loan

3. Budgeting:

The learning in this section was How to prepare the budget for all the different sections and the departments.
And allocation of budgets for different departments.

4. Treasury:
The learning in this section was based on the different tasks of the section.

This section directly relates to the cash and cash affairs Inflow and outflow of cash was the basic work of this
section..

 Collection
 Payments

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This section deals with:

 Bank dealing
 Fund payments/collection
 Updating banks
 Foreign payments
 Export transactions

5. Pre-shipment:

The learning in this section was the different steps of the work

 Tender
 Bidding
 Acceptance
 Inspection
 Purchase Order

Learned about the work, how to perform etc.

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

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

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 IMPROVEMENTS IN ADMINISTRATION

 The timings of duty of internees should less then the employees.

 Increase the stipend amount for the internee to motivate internee.
 Mess requires improvement in quality as well as quantity.
 Need to improve the training system of internees.
 There is no differentiation between the employees through their post, designation etc. Set specific
identity / designation for E1, E2, and E3.
 Improvements required in their training system, sitting places in department and their duration in the
company.
 Internees must be given a lecture about the working in any specific section bye a well trained trainee

IMPROVEMENT IN OTHER AREAS

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

In my observation this is fully 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.

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 SUGGESTIONS
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. I found here disciplined
and proper mannered in working, dressing, arrangement etc. But in some areas need to improve some things
which are beneficial to the company.

Process:

 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.
 Organization portrays the scene of centralized culture.

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
 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.

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 INTERNSHIP PROGRAM EVALUATION
 Internship should base 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 IN PEL
Internship in PEL is based just on overview of work documentation of work and the flow of work. There is a gap
between the internees and the employees. And this gap causes the lack of practice or work for internees. That is
why the trainee is not being train through practical work. 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

 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.

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 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
 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?

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 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.

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 TABLE OF CONTENT

1. INTERNSHIP AND LEARNING...............................................................................................................2

2. IMPROVEMENT IN OTHER AREAS......................................................................................................4

3. SUGGESTIONS..........................................................................................................................................5

4. INTERNSHIP PROGRAM EVALUATION..............................................................................................6

5. LINK BETWEEN QUALIFICATION AND INTERNSHIP PROGRAM.................................................7

6. PEL AS A FUTURE EMPLOYER.............................................................................................................8