Page 35 - Condensed Interim Financial Statements - For Nine Months Ended March 31, 2022

Notes to and forming part of the Condensed Interim
Consolidated Financial Statements (Unaudited)
For the nine months ended March 31, 2022
- 'The Securities and Exchange Commission of Pakistan (SECP) through S.R.O. 1177
(I)/2021 dated September 13, 2021, in partial modification of its previous S.R.O.
985(1)/2019 dated September 2, 2019, has notified that in respect of companies holding
financial assets due from the Government of Pakistan (GoP) in respect of circular debt,
the requirements contained in IFRS 9 with respect to application of expected credit loss
(ECL) model shall not be applicable till June 30, 2022, provided that such companies
shall follow relevant requirements of IAS 39 'Financial Instruments: Recognition and
Measurement' in respect of above referred financial assets during the exemption period.
The Company has assessed that the above SRO does not have any significant impact on
its financial statements. These condensed interim consolidated financial statements do
not include all the information required for full financial statements and should be read in
conjunction with the annual financial statements for the year ended June 30, 2021.
4. Significant accounting polices
The accounting policies and methods for computation adopted for the preparation of these
condensed interim consolidated financial statements are the same as those applied in
preparation of the financial statements for the year ended June 30, 2021.

(Unaudited) (Audited)
Mar. 31, 2022 Jun. 30, 2021
5. Capital reserves Rupees ('000)
Bonus shares issued by subsidiary/
associated companies 71,395 71,395
Special reserve 15,439 15,437
Utilised special reserve 1,941,044 1,941,044
2,027,878 2,027,876

6. Revenue reserves
Insurance reserve 200,000 200,000
General reserve 7,077,325 7,077,325
Unappropriated profit 35,400,009 30,810,225
42,677,334 38,087,550
7. Deferred liabilities
Provision for deferred income tax 5,525,188 5,840,426
Provision for decommissioning cost 16,799,158 14,389,227
Provision for gratuity 6,237 7,862
Provision for staff compensated absences 2,643 3,299
22,333,226 20,240,814

8. Trade and other payables

These include balances due to joint venture partners amounting to Rs 1,399,690 thousand

(June 30, 2021: Rs 905,978 thousand) and balances due to related parties amounting to Rs

1,348,698 thousand (June 30, 2021: Rs 1,142,218 thousand).

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