Page 161 - Pakistan Oilfield Limited - Annual Report 2022
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Annual Report 2022
2022 2021
Rupees ('000)
10.1 Workers' Profit Participation Fund
Payable at beginning of the year 1,156,615 1,090,364
Amount allocated during the year 1,557,700 1,169,110
Amount paid to the Fund's trustees (1,170,236) (1,102,859)
Payable at end of the year 1,544,079 1,156,615
10.2 This represents payment received from a customer on account of additional revenue and related
sales tax due to enhanced gas price incentive as explained in note 22.1.
11. CONTINGENCIES AND COMMITMENTS
11.1 Contingencies:
There were no material contingencies as at June 30, 2022 (2021: Rs Nil).
2022 2021
Rupees ('000)
11.2 Commitments:
Share in joint operations 13,792,446 7,059,703
Own fields 5,047,000 -
Letter of credit issued by banks on behalf of the Company 380,001 95,164
12. PROPERTY, PLANT AND EQUIPMENT
Operating assets - note 12.1 6,219,771 6,129,343
Capital work in progress - note 12.5 482,740 550,937
6,702,511 6,680,280
