Terms of Reference (TOR) of Financial Consultant (Package S12.1)
1 Background
The Government of Bangladesh has undertaken a number of reform and restructuring programs in order to accelerate the pace of development of power sector. Being the implementing agency of the Government, Power Cell has the prime responsibility to achieve these objectives and goals. It has been mandated to work as the counterpart reform unit and executing agency of the project on behalf of the Power Division, as it had been associated with various reforms in the sector since 1995.
2 Objectives
The objectives of appointing the Consultant are to assist the Power Cell in examining and reporting that the consultants’ relevant works are carried out with required quality and standard and these are consistent with the terms of reference.
3 Scope of Work
To fulfill the above objectives the Consultant will assist the Client/ Power Division/ Utilities in, but not limited to, the following tasks: (a) contributing as financial expert to ensure quality of work on various power sector restructuring, corporatisation, governance framework, business plan, investment estimation tasks produced by the other consultants of the Client; (b) providing technical inputs in framing terms of reference, sector/ enterprise viability study, designing commercial transactions, financial data-base, utility financial management system and modeling work, and financial analysis and recommendations for financial performance improvement programs; (c) implementing the power sector financial restructuring and recovery plan; (d) contributing in designing efficient and sound accounting system for the existing and emerging entities; (e) reviewing reports prepared and produced by other consultants and preparing comments and suggestions for the Clients;
(f) preparing various financial policy frameworks on electricity pricing and tariff and carrying out analyses on power pricing, cash flows, revenue requirements and allied studies required by the Client; (g) working as the counterpart of the consultants assigned for these purposes; (h) In addition, the Consultant shall develop a prudent financial management and disbursement system for the project including arranging production of timely and accurate reports.
4 Training
The Consultant shall provide training to the accountant of the Client or any other persons who are maintaining the computerized accounting system and financial management system of the project.
5 Reports and Time Schedule
The Consultant shall submit the following reports to the Client: (a) A monthly time sheet comprising the list of tasks and time elapsed for those tasks within first week of the following month; and (b) Specific reports on the assigned tasks on a case to case basis.
6 Inputs by the Client
The Client will provide office space and required office equipment at the project office. The Consultant will work under the guidance of the Director General of Power Cell.
7 Eligibility of the Consultant
The Consultant should have at least an advanced degree in Finance/ Accounting/ Business not below Master or any FCA/ FCMA. S/he must have at least six (6) years professional experience in utility financial management accounts, power/ utility reform and restructuring. Experience in utility/ enterprise financial viability study, preparation of financial recovery plan, business plan, corporate governance framework, design of commercial transactions will be treated as an
advantage.