Page 180 - Pakistan Oilfield Limited - Annual Report 2022
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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