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

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

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

RECORDS TO YOUR REPORTS FOR THE 12 MONTHS ENDED JUNE 30, 2003
3. MONEY AND BANK BALANCES 3.1. RETURN ON THESE SAVINGS RECORDS IS RECEIVED AT RATES WHICH RANGE FROM 2 per cent TO 5 percent
4. SHORT-TERM LOANS 4.1. These express loans to clients for a time period of as much as a year on mark-up basis and so are guaranteed by means of lien on Certificates of Investment. The price of mark-up ranges from 14% to 21.5per cent per year.

4.2. Included in these are cash market placements with different banking institutions as well as other finance institutions. Return on these placements ranges from 5% to 13per cent.
5. OPPORTUNITIES throughout the present year, the organization offered four federal federal federal government securities for Rs 182.288 million. The amortised price of these federal federal government securities had been Rs 159.394 million and also the revenue regarding the disposal of the securities amounted to Rs 22.894 million.

The administration made a decision to sell these securities to be able to realise the gain arising on these securities beneath the interest rate environment that is reduced.

As at June 30, 2003 the staying investment of this business in 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 towards the 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 ASSETS IN SHARES/CERTIFICATES OF LISTED COMPANIES/MODARABAS 6. THE RETURN ON INDEXED TERM FINANCE CERTIFICATES RANGES FROM 12 per cent TO 18 percent
7. IMPROVEMENTS, BUILD UP, PREPAYMENTS ALONG WITH OTHER RECEIVABLES 7.1. The utmost aggregate amount due through the leader and professionals at the conclusion of any thirty days through the year was Rs 873,685 (2002: Rs 623,685) and Rs 81,302 (2002: Rs 229,232) correspondingly.
7.2. PROVISION FOR ANY OTHER RECEIVABLES 8. LOANS that are LONG-TERM CONSIDERED GOOD The above loans consist of a quantity of Rs 6,668 (2002: Rs 936,200) outstanding for a time period of a lot more than three years.

These loans have now been supplied to employees for sale of motor vehicles and buy of home and therefore are repayable between three to 10 years. Mark-up on these loans is charged at prices including 2 per cent to 6 per cent per year.

The utmost aggregate amount due through the executive that is chief professionals at the conclusion of any thirty days through the 12 months had been Rs 864,200 (2002: Rs 1,728,200) and Rs 398,847 (2002: Rs 172,538) respectively.
9. Web INVESTMENT IN LEASES 9.1. The aforementioned 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 given because of the business: 9.2. THE INNER PRICE OF RETURN ON LEASE CONTRACTS RECEIVABLE CHIEFLY ARE PRICED BETWEEN 9% TO 20per cent PER YEAR
9.3. MINIMAL LEASE PAYMENTS RECEIVABLE 9.4. SUPPLY FOR POTENTIAL LEASE LOSSES 10. FIXED ASSETS 11. FUNDS UNDER MARK UP ARRANGEMNETS 11.1. The facilities click over here now readily available 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 a facility that is un-utilised 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 purchase price is payable by June 30, 2003.
12. CREDITORS, ACCRUED ALONGSIDE 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 DEPOSITS These express security deposits gotten from lessees under rent contracts and generally are adjustable on expiration for the respective rent durations.
14. REDEEMABLE CAPITAL – (NON-PARTICIPATORY) *The mark-up prices on these finances derive from the yield on treasury bills/SBP discount rates consequently they are modified on half yearly foundation.

The mark-up prices on these funds are derived from the average that is weighted of final three cut-off prices of this five 12 months Pakistan Investment Bonds (PIBs), and tend to be 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 price incurred on dilemma of Term Finance Certificates II was modified through the associated liability prior to the requirements for initial recognition of financial liabilities specified in Global Accounting Standard 39, ‘Financial Instruments: Recognition and Measurement’.

14.3. Term Finance Certificates II are guaranteed by an initial and exclusive cost over certain current and future leased assets and their associated receivables.
15. CERTIFICATES OF INVESTMENT

The organization has released certificates of investment underneath the authorization issued by the government.

These certificates of investment are for durations which range from a few months to 5 years and return on these certificates varies from 5.00 to 7.50 per cent per annum. Present readiness of long-lasting certificates of investment amounting to Rs. 110,732,000 (2002: Rs 88,163,000) is roofed undercurrent liabilities in short-term certificates of investment.
16. ISSUED, SUBSCRIBED AND PAID-UP-CAPITAL The Authorised Share Capital as at June 30, 2003 quantities to Rs. 400,000,000 (2002: 400,000,000) divided in to 40,000,000 (2002: 40,000,000) ordinary stocks of Rs. 10 each.
17. RESERVES 17.1. The contingency book was produced in respect for the need raised by the riches Tax Officer for business resource Tax of Rs 2,000,000 combined with 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 profits put aside to comply with the Prudential Regulations for NBFCs undertaking the continuing company of Leasing.

17.3. The reserve for deferred taxation was produced according to certain requirements associated with the no. That is circular given by the Securities and Exchange Commission of Pakistan on September 9,1999.

The liability that is unrecognised of 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. MONEY ON OPPORTUNITIES 21. DIFFERENT MONEY 22. FINANCIAL ALONG WITH OTHER CHARGES 23. ADMINISTRATIVE AND OPERATING COSTS 23.1. SALARIES, ALLOWANCES AND BENEFITS INCLUDE RS. 1,533,473 (2002: RS 1,230,807) ACCORDING OF STAFF BENEFITS that are RETIREMENT. DIRECT PRICE OF WORKING LEASES 25. TAXATION

The taxation fee when it comes to present 12 months represents minimal fee at 0.5per cent of revenues.
26. STAFF PENSION GRATUITY

The most recent actuarial valuation regarding the gratuity investment had been completed as at June 30, 2003. The reasonable value associated with the fund’s assets and liabilities during the latest valuation date were the following: Projected Unit Credit Method using listed here significant assumptions ended up being utilized for the valuation associated with Fund: 26.1. The expense of investments created by the employees your your your retirement funds operated by the business according to their accounts that are audited at June 30, 2003 can be follows: 27. TRANSACTIONS WITH ASSOCIATED UNDERTAKINGS 28. REMUNERATION OF CHIEF EXECUTIVE AND EXECUTIVES

The aggregate quantity charged during these makes up remuneration including all advantages, into 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 leader relates to the ex-Chief Executive Officer associated with the business whom ceased to put on office w.e.f. April 30, 2003.

Keep encashment can 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

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