Page 237 - 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)

CAPGAS - unfunded defined benefit plan

39.14 The amounts recognized in the statement of profit or loss are
as follows:

Current service cost 405 411
Interest cost 485 686
890 1,097

39.15 The amounts recognized in other comprehensive income are
as follows:
Remeasurement loss on staff retirement benefit plan 1,329 109

39.16 Changes in the present value of defined benefit obligation
are as follows:

Opening defined benefit obligation 5,642 5,509
Current service cost 405 411
Interest cost 485 686
Benefits paid - (855)
Remeasurement 1,329 (109)
Closing defined benefit obligation 7,861 5,641

39.17 Principal actuarial assumptions

The principal assumptions used in the actuarial valuation are as follows:
2021 2020
%

Discount rate 9.75 8.60
Expected rate of salary increase 9.75 8.60
39.18 Mortality was assumed to be 70% of the EFU(61-66) Table at valuations on both dates, June 30, 2021
and 2020.

ANNUAL REPORT 2021 235