Page 231 - 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)

Due from others

Up to 3 months 811,169 763,195
3 to 6 months 4,952 1,521,465
6 to 12 months 69,669 595,363
Above 12 months 23,154 24,000
908,944 2,904,023

1,564,171 3,951,419

(b) Liquidity risk

Liquidity risk is the risk that an entity will encounter difficulty in meeting obligations associated with
financial liabilities.

The Group manages liquidity risk by maintaining sufficient cash and marketable securities. At June
30, 2021, the Group had financial assets of Rs 55,766,422 thousand (2020: Rs 51,947,838 thousand).

The table below analyses the Group’s financial liabilities into relevant maturity groupings based on
the remaining period at the financial position date to the maturity date. The amounts disclosed in
the table are undiscounted cash flows which have been inflated using appropriate inflation rate,
where applicable.

Less than 1 Between 1 to Over 5 years
year 5 years
Rupees ('000)

At June 30, 2021

Long term deposits - 988,759 -
Trade and other payables 22,682,640 - -
Unclaimed dividend 244,495

At June 30, 2020
Long term deposits - 861,129 123,872
Trade and other payables 20,965,276 - -
Unclaimed dividend 214,307

(c) Market risk

(i) Currency risk

Foreign exchange risk is the risk that the fair value or future cash flows of a financial instrument will
fluctuate because of changes in foreign exchange rates. Foreign exchange risk arises mainly from
future commercial transactions or receivables and payables that exist due to transactions in foreign
currencies.

ANNUAL REPORT 2021 229