Page 233 - Pakistan Oilfields Limited - Annual Report 2021
P. 233

NOTES TO AND FORMING

          PART OF THE CONSOLIDATED FINANCIAL STATEMENTS

          FOR THE YEAR ENDED JUNE 30, 2021




                    Consistent with others in the industry, the Group monitors capital on the basis of the gearing ratio.
                    The gearing ratio of the Group has always been low and the Group has mostly financed its projects
                    and business expansions through equity financing. Further, the Group is not subject to externally
                    imposed capital requirements.

           38.3.3   Fair value of financial assets and liabilities

                    The carrying values of all financial assets and liabilities reflected in the financial statements
                    approximate their fair values. The table below analyzes financial assets that are measured at fair
                    value, by valuation method. The different levels have been defined as follows:

                      - Level 1 : Quoted prices in active markets for identical assets and liabilities;
                      - Level 2 : Observable inputs ; and
                      - Level 3 : Unobservable inputs
                    The Group held the following financial assets at fair value:

                                                                Level 1     Level 2      Level 3      Total
                                                                                Rupees ('000)

                    June 30, 2021

                    Other financial assets classified as
                    fair value through profit or loss                   -            -           -            -

                    June 30, 2020
                    Other financial assets classified as
                    fair value through profit or loss               6,519            -           -       6,519








































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