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

RECORDS TOWARDS THE ACCOUNTS FOR THE 12 MONTHS ENDED JUNE 30, 2003
3. 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 loans that are represent clients for a time period of as much as 12 months on mark-up basis consequently they 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 institutions that are financial. Return on these placements ranges from 5% to 13per cent.
5. OPPORTUNITIES through the present year, the organization offered four federal federal government securities for Rs 182.288 million. The amortised price of these government securities had been Rs 159.394 million therefore the revenue regarding the disposal among these securities amounted to Rs 22.894 million.

The management chose to offer these securities so that you can realise the gain arising on these securities underneath the interest rate environment that is reduced.

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

This investment has now been reclassified as ‘held for trading’ and is calculated at reasonable value. An increase of Rs 12.946 million happens to be credited to your profit and loss account in respect with 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 INDEXED TERM FINANCE CERTIFICATES RANGES FROM 12 percent TO 18 per cent
7. IMPROVEMENTS, BUILD UP, PREPAYMENTS ALONG WITH OTHER RECEIVABLES 7.1. The utmost aggregate amount due through the leader and professionals at the conclusion of any thirty days through the year ended up being Rs 873,685 (2002: Rs 623,685) and Rs 81,302 (2002: Rs 229,232) correspondingly. https://guaranteedinstallmentloans.com
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 time period of a lot more than three years.

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

The utmost aggregate amount due through the executive that is chief professionals by the end of any month 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 lease facilities awarded by the business: 9.2. THE INNER PRICE OF RETURN ON LEASE CONTRACTS RECEIVABLE CHIEFLY VARY FROM 9% TO 20per cent YEARLY
9.3. MINIMAL LEASE PAYMENTS RECEIVABLE 9.4. SUPPLY FOR POTENTIAL LEASE LOSSES 10. FIXED ASSETS 11. FUNDS 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 which range 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 a facility that is un-utilised operating finance offered by a commercial bank amounted to Rs 50 million (2002: Nil). The price of mark-up on this finance is Re 0.3014 per Rs 1,000 each day. The acquisition pricing is payable by 30, 2003 june.
12. CREDITORS, ACCRUED ALONG WITH OTHER LIABILITIES 12.1. Amount as a result of Saudi Pak Industrial and Agricultural Investment Company (Private) Limited, an undertaking that is associated at the season end amounted to Rs 3,940 (2002: Rs 514,783).
13. LONG-TERM BUILD UP These express security deposits gotten from lessees under rent agreements as they are adjustable on expiration associated with the particular lease durations.
14. REDEEMABLE CAPITAL – (NON-PARTICIPATORY) *The mark-up rates on these funds depend on the yield on treasury bills/SBP discount rates and generally are modified on half basis that is yearly.

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

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

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

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

The business has granted certificates of investment underneath the authorization issued because of the government.

These certificates of investment are for durations including a couple of months to 5 years and return on these certificates varies from 5.00 to 7.50 % per year. Present readiness of long-lasting certificates of investment amounting to Rs. 110,732,000 (2002: Rs 88,163,000) is roofed undercurrent liabilities in short-term certificates of investment.
16. ISSUED, SUBSCRIBED AND PAID-UP-CAPITAL The Authorised Share Capital as at 30, 2003 amounts to Rs. 400,000,000 (2002: 400,000,000) divided into 40,000,000 (2002: 40,000,000) ordinary shares of Rs. 10 each june.
17. RESERVES 17.1. The contingency book happens to be developed in respect for the need raised by the riches Tax Officer for business resource Tax of Rs 2,000,000 combined with the extra income tax of Rs 557,589. The business has filed a writ petition within the tall Court of Sindh from this need.

17.2. Statutory book represents earnings put aside to comply with the Prudential Regulations for NBFCs undertaking the company of Leasing.

17.3. The reserve for deferred taxation was developed depending on what’s needed regarding the Circular No. 16 given by the Securities and Exchange Commission of Pakistan on September 9,1999.

The unrecognised obligation of this business 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 ASSETS 21. DIFFERENT MONEY 22. FINANCIAL AS WELL AS OTHER CHARGES 23. ADMINISTRATIVE AND OPERATING COSTS 23.1. SALARIES, ALLOWANCES AND BENEFITS INCLUDE RS. 1,533,473 (2002: RS 1,230,807) IN RESPECT OF STAFF RETIREMENT ADVANTAGES
24. DIRECT PRICE OF WORKING LEASES 25. TAXATION

The taxation fee for the current 12 months represents minimal cost at 0.5per cent of revenues.
26. STAFF PENSION GRATUITY

The most recent actuarial valuation associated with the gratuity investment had been performed as at June 30, 2003. The reasonable value for the fund’s assets and liabilities during the latest valuation date were the following: Projected Unit Credit Method using the next significant assumptions ended up being utilized for the valuation associated with the Fund: 26.1. The price of assets produced by the employees your your retirement funds operated by the business according to their audited records as at June 30, 2003 can be follows: 27. TRANSACTIONS WITH ASSOCIATED UNDERTAKINGS 28. REMUNERATION OF CHIEF EXECUTIVE AND EXECUTIVES

The aggregate amount charged during these makes up about remuneration including all advantages, towards the Chief Executive and Executives is really as follows: Certain professionals are supplied with free utilization of business maintained automobiles.

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

Keep encashment normally payable to him depending on the regards to their work agreement.
29. PROFITS PER SHARE 30. MONEY GENERATED FROM OPERATIONS 31. CASH AND MONEY EQUIVALENTS