Page 157 - Pakistan Oilfields Limited - Annual Report 2021

NOTES TO AND FORMING

PART OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED JUNE 30, 2021

2021 2020
Rupees ('000)

30.1 Dividend on investments classified as fair
value through profit or loss

Meezan Sovereign Fund 361 68
Pakistan Cash Management Fund 54 86
Alfalah GHP Money Market Fund - 13,547
Atlas Money Market Fund 1 2
UBL Liquidity Plus Fund 186 302
ABL Cash Fund - 14,954
HBL Cash Fund - 1,520
NAFA Money Market Fund - 6,035
Atlas Income Fund 128 306

730 36,820

30.2 Dividend from subsidiary and associated companies

Subsidiary company
Capgas (Pvt) Limited 12,737 13,254

Associated companies

Attock Petroleum Limited 45,401 104,771

58,138 118,025

31. PROVISION FOR TAXATION

Current - for the year 7,600,364 4,671,415
Deferred - for the year (304,285) 687,131

7,296,079 5,358,546
31.1 Reconciliation of tax charge for the year

Accounting profit - before taxation 20,678,334 21,734,396

* Tax at applicable tax rate of 51.09% (2020: 47.10%) 10,564,561 10,184,738

Tax effect of depletion allowance, royalty payments and
amounts taxed at lower rates (3,537,433) (4,885,172)

Others 268,951 58,980

Tax charge for the year 7,296,079 5,358,546

* The applicable tax rate is the weighted average of tax rates applicable to income from oil and gas
concessions and income from other activities.

ANNUAL REPORT 2021 155