BEIJING: A Pakistani worker Faisal Bashir who serves at Qasim power plant has been declared as role-model in implementing the project in line with CPEC, keeping up the warm-hearted friendship of the two countries.
Wearing a plain kurta, a chic waistcoat and a white hat, under Faisal Bashir’s bushy beard is his shallow smile. Known by all workers as whisker dude, he is an accountant at Port Qasim Electric Power Company. He has been mainly responsible for the company’s taxation, auditing, and external coordination. He is proactive and conscientious in his work, says a report carried by China Economic Net on Friday.
The Port Qasim power plant is a 1.32GW coal-fired plant developed approximately 37km southeast of Karachi. Jointly owned by Power China and Qatar’s Al-Mirqab Group, the coal power plant is one of the priority energy projects and the first large-scale power energy project undertook as part of the China-Pakistan Economic Corridor (CPEC).
It is also an important milestone in the iron-clad friendship between China and Pakistan, as well as a successful model of China-Pakistan energy cooperation projects and a benchmark project under the CPEC’s fast-tracked Early Harvest programme.
Faisal is the first Pakistani tax consultant hired by the power plant to optimize its tax management. He used to work in professional accounting agencies for many years, and joined the Qasim power plant under the influence of CPEC. Faisal said that he still remembered how excited he was to see the Qasim project when he came to the plant for a job interview.
Pakistan’s tax system is complex. Qasim Electric Power Company is not registered in the same place as its business place, which involves different kinds of taxes and the company has to pay a large amount of taxes every year. Therefore, it is of great importance for the company to optimize its taxes according to relevant regulations of Pakistan.
In this case, Faisal made a thorough study of relevant tax laws, assisted the company in completing the import of goods and equipment and exempting part of income tax.
As two units connected to Pakistan’s national grid, the power plant’s consumption of coal was increasing day by day. In order to ensure the cash flow of the company, Faisal actively assisted in the reduction and exemption of related tax. Up to now, he has successfully handled 145 shipments of coal into Pakistan, saving millions of dollars in cash expenses for the company.
