Page 238 - Pakistan Oilfields Limited - Annual Report 2021

NOTES TO AND FORMING

PART OF THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED JUNE 30, 2021

39.19 Sensitivity analysis

The calculation of the defined benefit obligation is sensitive to assumptions set out above. The following
table summarizes how the impact on the defined benefit obligation at the end of the reporting period
would have increased/ (decreased) as a result of a change in respective assumptions by one percent.

Defined benefit obligation
1 percent 1 percent
increase decrease
Rupees ('000)
Discount rate (463) 527
Salary increase 522 (467)
The impact of changes in financial assumptions has been determined by revaluation of the obligation
on different rates.

Note 2021 2020
Rupees ('000)
40. CASH AND CASH EQUIVALENTS

Cash and bank balances 25 47,723,976 36,840,879
Short term investment - at amortised cost 24 99,960 6,468,798
47,823,936 43,309,677

41. INTEREST IN SUBSIDIARY

41.1 CAPGAS is only subsidiary of POL as at June 30, 2021. CAPGAS has share capital consisting solely of
ordinary shares that are held directly by POL, and the proportion of ownership interest held equals
the voting right held by POL. POL holds 51% (2020: 51%) interest in CAPGAS. There are no significant
restrictions on Company’s ability to use assets, or settle liabilities of CAPGAS.

41.2 Non-controlling interest

Following is the summarised financial information of CAPGAS that has 49% (2020: 49%) ownership
interest held by non-controlling interests. The amounts disclosed are before inter-company
eliminations:

2021 2020
Rupees ('000)
Summarised financial position
Current assets 309,764 289,385
Non-current assets 96,023 136,277
Current liabilities 33,549 33,859
Non-current liabilities 123,209 131,448
Net assets 249,029 260,355

Accumulated NCI 122,024 127,574

236 PAKISTAN OILFIELDS LIMITED