Page 247 - Pakistan Oilfield Limited - Annual Report 2022

245
Annual Report 2022

The table below analyses the Group’s financial liabilities into relevant maturity groupings based on
the remaining period at the financial position date to the maturity date. The amounts disclosed in
the table are undiscounted cash flows which have been inflated using appropriate inflation rate,
where applicable.
Less than 1 Between 1 to 5 Over 5 years
year years
Rupees ' 000

At June 30, 2022

Long term deposits - 1,015,727 -
Trade and other payables 26,035,039 - -
Unclaimed dividend 275,702 - -

At June 30, 2021

Long term deposits - 988,759 -
Trade and other payables 21,542,323 - -
Unclaimed dividend 244,495 - -
(c) Market risk

(i) Currency risk
Foreign exchange risk is the risk that the fair value or future cash flows of a financial instrument will
fluctuate because of changes in foreign exchange rates. Foreign exchange risk arises mainly from
future commercial transactions or receivables and payables that exist due to transactions in foreign
currencies.
The Group is exposed to currency risk arising from currency exposure with respect to the US dollar.
Currently foreign exchange risk is restricted to trade debts, bank balances, receivable from/ payable
to joint operating partners and payable to suppliers.
Financial assets include Rs 36,827,358 thousand (2021: Rs 29,965,461 thousand) and financial
liabilities include Rs 139,193 thousand (2021: Rs 688,637 thousand) which are subject to currency
risk.
The following significant exchange rates were applied during the year:

Rupees per USD 2022 2021
Rupees
Average rate 176.98 155.63
Reporting date rate 205.75 158.05

If exchange rates had been 10% lower / higher with all other variables held constant, profit after tax
for the year would have been Rs 2,568,172 thousand lower / higher (2021: Rs 2,049,378 thousand
lower/higher).