Page 159 - Pakistan Oilfields Limited - Annual Report 2021

NOTES TO AND FORMING

PART OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED JUNE 30, 2021

34. REMUNERATION OF CHIEF EXECUTIVE, DIRECTORS AND EXECUTIVES

The aggregate amounts charged in these financial statements in respect of remuneration, including
benefits and perquisites to chief executive, directors and executives of the Company are given
below:
Chief Executive Executives
2021 2020 2021 2020
Rupees ('000)

Managerial remuneration 7,612 7,612 121,311 111,399
Bonus 6,343 6,838 83,065 84,207
Housing, utility and conveyance 6,118 6,133 115,158 105,234
Company's contribution to pension,
gratuity and provident funds - - 48,099 41,990
Leave passage 1,269 1,269 15,910 16,169
Other benefits 4,389 4,599 44,373 40,862
25,731 26,451 427,916 399,861

No of persons, including those
who worked part of the year 1 1 53 51

In addition to remuneration, the Chief Executive and certain executives were provided with use of
the Company’s cars and residential telephone facilities. The Company also provides medical facilities
to its staff. Remuneration of executives are net of charge to subsidiary and associated companies
amounting to Rs 19,449 thousand (2020: Rs 24,263 thousand).

The aggregate amount charged in these financial statements in respect of fee to 7 directors (2020:
6) was Rs 7,885 thousand (2020: Rs 6,873 thousand). This includes Rs 5,126 thousand (2020: Rs 4,358
thousand) paid to 4 non-executive (2020: 4) of the Company.

ANNUAL REPORT 2021 157