Which for the after are assets of commercial? banking institutions? I. Reserves. Ii. Loans. Iii. Deposits.

RECORDS TO YOUR RECORDS FOR THE ENDED JUNE 30, 2003
3 year. MONEY AND BANK BALANCES 3.1. RETURN ON THESE SAVINGS REPORTS IS ATTAINED AT RATES WHICH RANGE FROM 2 percent TO 5 per cent
4. SHORT-TERM LOANS 4.1. These express loans to customers for a time period of as much as a year on mark-up basis and are guaranteed by means of lien on Certificates of Investment. The price of mark-up ranges from 14% to 21.5percent per year.

4.2. Included in these are cash market placements with different banking institutions as well as other banking institutions. Return on these placements ranges from 5% to 13percent.
5. ASSETS through the present 12 months, the business offered four federal government securities for Rs 182.288 million. The amortised price of these federal federal government securities had been Rs 159.394 million in addition to revenue regarding the disposal of the securities amounted to Rs 22.894 million.

The administration chose to offer these securities to be able to realise the gain arising on these securities underneath the reduced rate of interest environment.

As at June 30, 2003 the staying investment of this business in federal government securities amounted to Rs 52.634 million.

This investment has been reclassified as ‘held for trading’ and it is calculated at reasonable value. An increase of Rs 12.946 million happens to be credited to your loss and profit account in respect for this investment. There are not any financial assets classified as ‘held to readiness’ at June 30, 2003.

5.1. INFORMATION ON OPPORTUNITIES IN SHARES/CERTIFICATES OF LISTED COMPANIES/MODARABAS 6. THE RETURN ON LISTED TERM FINANCE CERTIFICATES RANGES FROM 12 percent TO 18 percent
7. IMPROVEMENTS, BUILD UP, PREPAYMENTS ALONG WITH OTHER RECEIVABLES 7 installment loans online.1. The utmost aggregate amount due through the chief executive and professionals at the conclusion of any thirty days throughout the year was Rs 873,685 (2002: Rs 623,685) and Rs 81,302 (2002: Rs 229,232) respectively.
7.2. SUPPLY FOR ANY OTHER RECEIVABLES 8. LOANS that are LONG-TERM CONSIDERED GOOD The above loans consist of a quantity of Rs 6,668 (2002: Rs 936,200) outstanding for a period of a lot more than three years.

These loans have already been supplied to workers to buy of cars and buy of home and therefore are repayable between three to a decade. Mark-up on these loans is charged at prices which range from 2 % to 6 per cent per year.

The utmost aggregate amount due through the leader and professionals at the conclusion of any thirty days throughout the year had been Rs 864,200 (2002: Rs 1,728,200) and Rs 398,847 (2002: Rs 172,538) correspondingly.
9. NET INVESTMENT IN LEASES 9.1. The above mentioned includes the term that is following Certificates issued by Pakland Cement Limited (PCL) under a scheme of arrangement sanctioned by the tall Court of Sindh against rent facilities provided because of the business: 9.2. THE INNER PRICE OF RETURN ON LEASE CONTRACTS RECEIVABLE CHIEFLY RANGE BETWEEN 9% TO 20per cent PER YEAR
9.3. MINIMAL LEASE PAYMENTS RECEIVABLE 9.4. SUPPLY FOR POTENTIAL LEASE LOSSES 10. FIXED ASSETS 11. FINANCES UNDER MARK UP ARRANGEMNETS 11.1. The facilities readily available for short-term finance amounted to Rs 85 million (2002: Rs 75 million) and carry mark-up ranging from Re 0.0890 to Re 0.0945 per Rs 1,000 each day. These facilities are repayable on different times by 15, 2003 august.

Along with this an un-utilised center for operating finance offered by a commercial bank amounted to Rs 50 million (2002: Nil). The price of mark-up with this finance is Re 0.3014 per Rs 1,000 each day. The acquisition pricing is payable by June 30, 2003.
12. CREDITORS, ACCRUED AS WELL AS OTHER LIABILITIES 12.1. Amount because of Saudi Pak Industrial and Agricultural Investment Company (Private) Limited, an associated undertaking, at the entire year end amounted to Rs 3,940 (2002: Rs 514,783).
13. LONG-TERM BUILD UP These security that is represent gotten from lessees under rent agreements and are also adjustable on expiration associated with the particular lease durations.
14. REDEEMABLE CAPITAL – (NON-PARTICIPATORY) *The mark-up rates on these funds are derived from the yield on treasury bills/SBP discount rates and are usually modified on half basis that is yearly.

The mark-up prices on these funds are derived from the average that is weighted of final three cut-off rates of this five 12 months Pakistan Investment Bonds (PIBs), and are also modified on half-yearly foundation.

14.1. The facilities are guaranteed by hypothecation of certain leased assets and associated rent rentals. The facilities had been utilised for disbursement against leasing contracts executed by the organization.

14.2. LIABILITY ACCORDING OF TERM FINANCE Transaction expense incurred on dilemma of Term Finance Certificates II happens to be modified through the associated liability prior to the criteria for initial recognition of monetary liabilities specified in Overseas Accounting Standard 39, ‘Financial Instruments: Recognition and Measurement’.

14.3. Term Finance Certificates II are guaranteed by an initial and exclusive cost over certain current and future leased assets and their associated receivables.
15. CERTIFICATES OF INVESTMENT

The business has released certificates of investment beneath the authorization awarded because of the authorities.

These certificates of investment are for durations which range from a couple of months to 5 years and return on these certificates varies from 5.00 to 7.50 per cent per annum. Present readiness of long-lasting certificates of investment amounting to Rs. 110,732,000 (2002: Rs 88,163,000) is included undercurrent liabilities in short-term certificates of investment.
16. ISSUED, SUBSCRIBED AND PAID-UP-CAPITAL The Authorised Share Capital as at June 30, 2003 quantities to Rs. 400,000,000 (2002: 400,000,000) divided in to 40,000,000 (2002: 40,000,000) ordinary stocks of Rs. 10 each.
17. RESERVES 17.1. The contingency book happens to be developed in respect of this need raised by the riches Tax Officer for business Asset Tax of Rs 2,000,000 combined with the extra taxation of Rs 557,589. The business has filed a writ petition when you look at the tall Court of Sindh from this need.

17.2. Statutory book represents earnings set aside to adhere to the Prudential Regulations for NBFCs undertaking the company of Leasing.

17.3. The reserve for deferred taxation was developed according to certain requirements associated with the no. That is circular released by the Securities and Exchange Commission of Pakistan on September 9,1999.

The liability that is unrecognised of company for deferred taxation as at June 30, 2003 quantities to Rs Nil (2002: Rs 16.284 million).
18. COMMITMENTS 19. MONEY FROM FINANCE LEASE OPERATIONS 20. MONEY ON OPPORTUNITIES 21. DIFFERENT MONEY 22. FINANCIAL ALONG WITH OTHER CHARGES 23. ADMINISTRATIVE AND OPERATING COSTS 23.1. SALARIES, ALLOWANCES AND BENEFITS INCLUDE RS. 1,533,473 (2002: RS 1,230,807) ACCORDING OF STAFF BENEFITS that are RETIREMENT. DIRECT PRICE OF WORKING LEASES 25. TAXATION

The income tax cost when it comes to present 12 months represents minimal cost at 0.5per cent of revenues.
26. STAFF PENSION GRATUITY

The latest valuation that is actuarial of gratuity investment had been performed as at June 30, 2003. The reasonable worth associated with fund’s assets and liabilities in the latest valuation date were the following: Projected Unit Credit Method using listed here significant assumptions had been utilized for the valuation associated with the Fund: 26.1. The expense of opportunities created by the employees your your retirement funds operated by the business depending on their audited records as at June 30, 2003 can be as follows: 27. TRANSACTIONS WITH ASSOCIATED UNDERTAKINGS 28. REMUNERATION OF CHIEF EXECUTIVE AND EXECUTIVES

The aggregate amount charged during these is the reason remuneration including all benefits, towards the Chief Executive and Executives is really as follows: Certain professionals are offered with free use of company maintained vehicles.

The above mentioned remuneration of leader relates to the Executive Officer that is ex-Chief of business whom ceased to carry workplace w.e.f. April 30, 2003.

Leave encashment can also be payable to him according to the regards to their work agreement.
29. PROFITS PER SHARE 30. CASH GENERATED FROM OPERATIONS 31. CASH AND MONEY EQUIVALENTS