Page 161 - Pakistan Oilfields Limited - Annual Report 2021

NOTES TO AND FORMING

PART OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED JUNE 30, 2021

Amortised cost Total
Rupees ('000)

Financial liabilities
Maturity up to one year
Trade and other payables 20,949,379 20,949,379
Unclaimed dividend 214,307 214,307
Maturity after one year
Long term deposits 861,129 861,129
22,024,815 22,024,815
35.2 Credit quality of financial assets

The credit quality of Company’s financial assets have been assessed below by reference to external
credit ratings of counter parties determined by The Pakistan Credit Rating Agency Limited (PACRA)
and JCR - VIS Credit Rating Company Limited (JCR-VIS). The counterparties for which external credit
ratings were not available have been assessed by reference to internal credit ratings determined
based on their historical information for any defaults in meeting obligations.
Rating 2021 2020
Rupees ('000)

Trade debts

Counterparties with external credit rating A1+ 4,249,684 2,547,285
A1 2,750,700 4,733,131
A2 207,577 257,333

Counterparties without external credit rating

Existing customers with no default in the past 130,570 96,134
7,338,531 7,633,883

Advances, deposits and other receivables

Counterparties with external credit rating A1+ 69,303 304,171

Counterparties without external credit rating
Existing customers/ joint operating partners
with no default in the past 255,895 297,138
Receivable from employees 119,986 206,188
Receivable from parent company 33,197 36,258
Others 74,896 112,726

553,277 956,481
Bank balances

Counterparties with external credit rating A1+ 47,569,388 36,678,102
A1 267 647
47,569,655 36,678,749

ANNUAL REPORT 2021 159