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PAKISTAN OILFIELDS LIMITED
149
Notes to and Forming Part of the Financial Statements
For the year ended June 30, 2017
2017
2016
Rupees (‘000)
Attock Information Technology (Private) Limited
Purchase of services
45,660
38,043
Attock Cement Pakistan Limited
Purchase of services
8
5
Attock Hospital (Private) Limited
Purchase of medical services
9,612
7,689
Other Associated Companies
Dividend Paid
12,983
15,181
Other related parties
Dividend paid to key management personnel
83,808
95,965
Contribution to staff retirement benefits plans
Management Staff Pension Fund and Gratuity Fund
78,938
71,133
Approved Contributory Provident Funds
27,718
25,689
Contribution to Workers’ Profit Participation Fund
662,074
471,623
39.
CASH AND CASH EQUIVALENTS
Cash and cash equivalents comprise
Cash and bank balances
14,181,528
10,763,801
40.
CONTRIBUTORY PROVIDENT FUND
Details of the provident funds based on unaudited financial statements of the funds are as follows:
2017
2016
Rupees (‘000)
Rupees (‘000)
Net assets
685,884
724,064
Cost of investments made
606,679
641,154
%age of investments made
88%
89%
Fair value of investments made
636,661
674,466
2017
2016
Breakup of investments - at cost
Rupees (‘000)
%age
Rupees (‘000)
%age
Term Finance Certificates
925
0.15
925
0.14
Mutual Funds
4,977
0.82
4,977
0.78
Government bonds
591,450
97.49
631,236
98.45
Cash and cash equivalents
9,327
1.54
4,016
0.63
606,679
100.00
641,154
100.00
Investments out of provident fund have been made in accordance with the provisions of section 227 of the
Companies Ordinance, 1984 and the rules formulated for the purpose.