Page 224 - Pakistan Oilfield Limited - Annual Report 2022

222
PAKISTAN OILFIELDS LIMITED

Notes to and Forming Part of the -
Consolidated Financial Statements

For the year ended June 30, 2022

2022 2021
Rupees ('000)

11. TRADE AND OTHER PAYABLES

Creditors 389,271 462,149
Due to related parties
Attock Hospital (Pvt) Limited 2,667 3,234
Attock Petroleum Limited 83,623 23,314
Attock Energy Private Limited - 1,239
Attock Refinery Limited 10,401 10,462
National Refinery limited 601 8,292
Attock Lesiure and Management Associates (Pvt) Limited 857 491
Management Staff Pension Fund 169,593 126,441
Staff Provident Fund 1,663 -
General Staff Provident Fund 312 -
Workers' Profit Participation Fund - note 11.1 1,546,307 1,156,780
Due to joint operating partners
The Attock Oil Company Limited 8,490 35,838
Others 1,435,659 905,978
Accrued liabilities 2,957,301 2,277,098
Advance payment from customers 80,613 68,558
Royalty 901,299 582,863
Excise duty 576 3,940
Petroleum levy payable 17,716 13,671
Workers' Welfare Fund 1,179,131 1,069,630
Liability for staff compensated absences 16,707 15,239
Current portion of deferred liabilites - renewal fee 45,515 -
Other Liabilities - note 11.2 22,286,486 18,954,545
31,134,788 25,719,762

11.1 Workers' Profit Participation Fund

Balance at beginning of the year 1,156,780 1,093,950
Amount allocated for the year 1,559,727 1,169,275

Amount paid to the Fund's trustees (1,170,401) (1,106,445)
Balance at year end 1,546,106 1,156,780

11.2 This includes payment received from a customer on account of additional revenue and related
sales tax due to enhanced gas price incentive as explained in note 25.1.