Page 180 - Pakistan Oilfield Limited - Annual Report 2022
P. 180

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             PAKISTAN OILFIELDS LIMITED
             Notes to and Forming Part of the

             Financial Statements


             For the year ended June 30, 2022



             34.2     Credit quality of financial assets
                      The credit quality of Company's financial assets have been assessed below by reference to external
                      credit ratings of counter parties determined by The Pakistan Credit Rating Agency Limited (PACRA)
                      and JCR - VIS Credit Rating Company Limited (JCR-VIS). The counterparties for which external credit
                      ratings were not available have been assessed by reference to internal credit ratings determined
                      based on their historical information for any defaults in meeting obligations.

                                                                       Rating        2022             2021
                                                                                          Rupees (‘000)
                      Trade debts

                      Counterparties with external credit rating        A1+         6,733,199        4,249,684
                                                                         A1         3,164,485        2,750,700
                                                                         A2             1,984          207,577

                      Counterparties without external credit rating
                      Existing customers with no default in the past                   67,484          130,570

                                                                                     9,967,152       7,338,531
                      Advances, deposits and other receivables
                      Counterparties with external credit rating        A1+           322,587           69,303

                      Counterparties without external credit rating
                       Existing customers/ joint operating partners
                       with no default in the past                                    289,023          255,895
                       Receivable from employees                                       28,126          119,986
                       Receivable from parent company                                  82,657           33,197
                       Others                                                          30,539           74,896
                                                                                      752,932          553,277

                      Bank balances
                      Counterparties with external credit rating        A1+        67,715,821       47,569,388
                                                                         A1             2,336              267

                                                                                   67,718,157       47,569,655
                      Long term loans and advances

                      Counterparties without external credit rating
                       Receivable from employees                                       29,590           37,146
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