Page 24 - Condensed Interim Financial Statements - for the nine months ended March 31, 2024

Notes to and forming part of the Condensed Interim
Financial Statements (Unaudited)
For the nine months ended March 31, 2024
25.1 The Honorable Supreme Court of Pakistan through its decision dated November 29,
2023 and written order issued on January 08, 2024, dismissed civil petition filed by the
tax department and has decided the matter of depletion allowance in favor of the
Company. Pursuant to the decision, for the purpose of calculation of depletion allowance
in accordance with Rule 3 of Part 1 of the Fifth Schedule to the Income Tax Ordinance,
the royalty amount is not to be deducted while calculating depletion. Accordingly, the
Company has reversed the provision carried in the financial statements.
(Unaudited) (Unaudited)
Three months ended Nine months ended
Mar. 31, 2024 Mar. 31, 2023 Mar. 31, 2024 Mar. 31, 2023
Rupees ('000)
26. TRANSACTIONS WITH RELATED PARTIES
Aggregate transactions with related parties
of the Company were as follows:

Sales of goods and services to
Associated Companies 7,783,795 8,307,254 26,948,412 2 5,511,503

Purchase of goods and services from
Parent Company 23,108 32,246 70,076 102,575
Associated Companies 614,442 411,664 1,980,637 1,341,424

Reimbursement of expenses incurred
by POL on behalf of associates
Parent Company 65 50 65 71
Subsidiary Companies 3,997 3,397 11,437 10,932
Associated Companies 11,040 9,270 30,724 29,529
Reimbursement of expenses incurred
by associates on behalf of POL
Parent Company 1,642 161 5,316 1,283
Subsidiary Companies - 3,711 - 15,052
Associated Companies 3,410 (1,402) 17,886 38,694

Rental income
Subsidiary Companies 468 351 1,053 1,053
Associated Companies 1,072 1,023 3,214 3,065
Rental expense
Parent Company 29,956 17,894 89,867 53,641
Associated Companies 1,459 1,357 4,555 3,982

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