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Which associated with the after are assets of commercial? banking institutions? I. Reserves. Ii. Loans. Iii. Deposits.

RECORDS TOWARDS THE RECORDS FOR THE ENDED JUNE 30, 2003
3 year. MONEY AND BANK BALANCES 3.1. RETURN ON THESE SAVINGS REPORTS IS ACQUIRED AT RATES WHICH RANGE FROM 2 percent TO 5 percent
4. SHORT-TERM LOANS 4.1. These loans that are represent clients for a time period of as much as a year on mark-up basis as they are secured by means of lien on Certificates of Investment. The price of mark-up ranges from 14% to 21.5percent per year.

4.2. These generally include cash market placements with various banking institutions as well as other finance institutions. Return on these placements ranges from 5% to 13percent.
5. OPPORTUNITIES throughout the year that is current the organization offered four federal government securities for Rs 182.288 million. The cost that is amortised of federal government securities had been Rs 159.394 million in addition to profit from the disposal of the securities amounted to Rs 22.894 million.

The administration chose to offer these securities to be able to realise the gain arising on these securities beneath the reduced rate of interest environment.

As at June 30, 2003 the staying investment associated with business in federal federal government securities amounted to Rs 52.634 million.

This investment has been reclassified as ‘held for trading’ and it is calculated at reasonable value. An increase of Rs 12.946 million happens to be credited to your revenue and loss account in respect for this investment. There aren’t any assets that are financial as ‘held to readiness’ at June 30, 2003.

5.1. INFORMATION ON OPPORTUNITIES IN SHARES/CERTIFICATES OF LISTED COMPANIES/MODARABAS 6. THE RETURN ON INDEXED TERM FINANCE CERTIFICATES RANGES FROM 12 percent TO 18 percent
7. IMPROVEMENTS, BUILD UP, PREPAYMENTS ALONG WITH OTHER RECEIVABLES 7.1. The utmost aggregate amount due through the leader and professionals by the end of any thirty days through the year ended up being Rs 873,685 (2002: Rs 623,685) and Rs 81,302 (2002: Rs 229,232) correspondingly.
7.2. SUPPLY FOR ANY OTHER RECEIVABLES 8. LONG-TERM LOANS – CONSIDERED GOOD The above loans consist of a sum of Rs 6,668 (2002: Rs 936,200) outstanding for a time period of a lot more than 36 months.

These loans have now been supplied to workers for sale of cars and get of household and generally are repayable between three to 10 years. Mark-up on these loans is charged at rates which range from 2 per cent to 6 percent per year.

The utmost aggregate amount due through the chief executive and professionals at the conclusion of any thirty days through the 12 months was Rs 864,200 (2002: Rs 1,728,200) and Rs 398,847 (2002: Rs 172,538) correspondingly.
9. NET INVESTMENT IN LEASES 9.1. The above mentioned includes the term that is following Certificates issued by Pakland Cement Limited (PCL) under a scheme of arrangement sanctioned by the tall Court of Sindh against rent facilities awarded because of the company: 9.2. THE INTERIOR PRICE OF RETURN ON LEASE CONTRACTS RECEIVABLE CHIEFLY RANGE BETWEEN 9% TO 20per cent PER YEAR
9.3. MINIMAL LEASE PAYMENTS RECEIVABLE 9.4. PROVISION FOR POTENTIAL LEASE LOSSES 10. FIXED ASSETS 11. FUNDS UNDER MARK UP ARRANGEMNETS 11.1. The facilities designed for short-term finance amounted to Rs 85 million (2002: Rs 75 million) and carry mark-up which range from Re 0.0890 to Re 0.0945 per Rs 1,000 each day. These facilities are repayable on different times by 15, 2003 august.

Along with this an un-utilised center for operating finance offered by a commercial bank amounted to Rs 50 million (2002: Nil). The price of mark-up with this finance is Re 0.3014 per Rs 1,000 each day. The acquisition pricing is payable by 30, 2003 june.
12. CREDITORS, ACCRUED AS WELL AS OTHER LIABILITIES 12.1. Amount as a result of Saudi Pak Industrial and Agricultural Investment Company (Private) Limited, an associated undertaking, at the season end amounted to Rs 3,940 (2002: Rs 514,783).
13. LONG-TERM BUILD UP These security that is represent gotten from lessees under lease agreements and they are adjustable on expiration of this respective rent periods.
14. REDEEMABLE CAPITAL – (NON-PARTICIPATORY) *The mark-up rates on these funds depend on the yield on treasury bills/SBP discount rates consequently they are modified on half basis that is yearly.

The mark-up prices on these funds are derived from the average that is weighted of final three cut-off prices of this five year Pakistan Investment Bonds (PIBs), consequently they are modified on half-yearly foundation.

14.1. The facilities are guaranteed by hypothecation of particular leased assets and associated rent rentals. The facilities had been utilised for disbursement against leasing contracts executed by the business.

14.2. LIABILITY ACCORDING OF TERM FINANCE Transaction cost incurred on problem of Term Finance Certificates II is adjusted through the associated liability relative to the requirements for initial recognition of economic liabilities specified in Global Accounting Standard 39, ‘Financial Instruments: Recognition and Measurement’.

14.3. Term Finance Certificates II are guaranteed by a primary and exclusive fee over certain current and future leased assets and their associated receivables.
15. discover this CERTIFICATES OF INVESTMENT

The organization has released certificates of investment underneath the permission given by the government.

These certificates of investment are for durations which range from three months to five years and return on these certificates ranges from 5.00 to 7.50 per cent per annum. Present readiness of long-term certificates of investment amounting to Rs. 110,732,000 (2002: Rs 88,163,000) is roofed liabilities that are undercurrent short-term certificates of investment.
16. ISSUED, SUBSCRIBED AND PAID-UP-CAPITAL The Authorised Share Capital as at 30, 2003 amounts to Rs. 400,000,000 (2002: 400,000,000) divided into 40,000,000 (2002: 40,000,000) ordinary shares of Rs. 10 each june.
17. RESERVES 17.1. The contingency book happens to be produced in respect regarding the need raised by the riches Tax Officer for business resource Tax of Rs 2,000,000 combined with the tax that is additional of 557,589. The business has filed a writ petition into the tall Court of Sindh from this need.

17.2. Statutory book represents earnings set aside to adhere to the Prudential Regulations for NBFCs undertaking the continuing company of Leasing.

17.3. The reserve for deferred taxation was developed depending on certain requirements for the Circular No. 16 released by the Securities and Exchange Commission of Pakistan on September 9,1999.

The unrecognised obligation for the business for deferred taxation as at June 30, 2003 quantities to Rs Nil (2002: Rs 16.284 million).
18. COMMITMENTS 19. MONEY FROM FINANCE LEASE OPERATIONS 20. INCOME ON ASSETS 21. OTHER MONEY 22. FINANCIAL AS WELL AS OTHER CHARGES 23. ADMINISTRATIVE AND OPERATING COSTS 23.1. SALARIES, ALLOWANCES AND BENEFITS INCLUDE RS. 1,533,473 (2002: RS 1,230,807) IN RESPECT OF STAFF BENEFITS that are RETIREMENT. DIRECT PRICE OF WORKING LEASES 25. TAXATION

The income tax cost when it comes to present 12 months represents minimal fee at 0.5per cent of gross income.
26. STAFF RETIREMENT GRATUITY

The most recent valuation that is actuarial of gratuity investment had been completed as at June 30, 2003. The reasonable value of the fund’s assets and liabilities during the latest valuation date had been the following: Projected Unit Credit Method using the next significant assumptions had been useful for the valuation associated with the Fund: 26.1. The expense of opportunities created by the employees retirement funds operated by the organization according to their audited records as at June 30, 2003 can be as follows: 27. TRANSACTIONS WITH ASSOCIATED UNDERTAKINGS 28. REMUNERATION OF CHIEF EXECUTIVE AND EXECUTIVES

The amount that is aggregate during these makes up about remuneration including all advantages, towards the Chief Executive and Executives is really as follows: Certain professionals are given with free usage of business maintained vehicles.

The above mentioned remuneration of Chief Executive relates to the ex-Chief Executive Officer associated with the business whom ceased to put up workplace w.e.f. April 30, 2003.

Keep encashment can also be payable to him according to the regards to their work agreement.
29. PROFITS PER SHARE 30. MONEY GENERATED FROM OPERATIONS 31. CASH AND MONEY EQUIVALENTS