Page 206 - Pakistan Oilfields Limited - Annual Report 2021

NOTES TO AND FORMING

PART OF THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED JUNE 30, 2021

2021 2020
Rupees ('000)

10.2.1 Revision due to change in estimates

Credited to related asset - note 14 38,574 274,982
Revision in excess of related asset credited to
statement of profit or loss - note 28 (232,072) (209,176)
(193,498) 65,806

11. TRADE AND OTHER PAYABLES

Creditors 462,149 484,341
Due to related parties
Attock Hospital (Pvt) Limited 3,234 2,779
Attock Petroleum Limited 23,314 -
Attock Energy Private Limited 1,239 -
Attock Refinery Limited 10,462 -
National Refinery limited 8,292 -
Attock Lesiure and Management Associates (Pvt) Limited 491 63
Management Staff Pension Fund 126,441 24,713
Staff Provident Fund - 35
General Staff Provident Fund - 514
Workers' Profit Participation Fund - note 11.1 1,156,780 1,093,950
Due to joint operating partners
The Attock Oil Company Limited 35,838 20,164
Others 905,978 1,748,469
Accrued liabilities 2,277,098 3,313,280
Advance payment from customers 68,558 108,640
Royalty 582,863 508,177
Excise duty 3,940 3,821
Petroleum levy payable 13,671 28,222
Workers' Welfare Fund 1,069,630 693,354
Liability for staff compensated absences 15,239 10,792
Other Liabilities - note 11.2 18,954,545 15,396,180
25,719,762 23,437,494
11.1 Workers' Profit Participation Fund

Balance at beginning of the year 1,093,950 1,329,934
Amount allocated for the year 1,169,275 1,105,851
Amount paid to the Fund's trustees (1,106,445) (1,341,835)
Balance at year end 1,156,780 1,093,950

11.2 This includes payment received from a customer on account of additional revenue and related
sales tax due to enhanced gas price incentive as explained in note 26.1.

204 PAKISTAN OILFIELDS LIMITED