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NOTES TO AND FORMING
PART OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2020
143
PAKISTANOILFIELDS LIMITED
11.
UNCLAIMED DIVIDEND
As required by section 244 of the Companies Act, 2017, (as amended by the Companies Amendment
Ordinance, 2020) as at June 30, 2020, Rs 119,576 thousand were kept in a profit bearing bank
account relating to unclaimed dividend for the years 2017 - 2020 and the Company is in the process
of transferring the balance amount to such account.
12.
CONTINGENCIES AND COMMITMENTS
12.1 Contingencies:
There were no material contingencies as at June 30, 2020 (2019: Rs Nil).
12.2 Commitments:
2020
2019
Rupees ('000)
Share in joint operations
9,412,940
12,956,173
Own fields
297,558
3,879,260
Letter of credit issued by banks on behalf of the Company
199,199
1,060,495
13.
PROPERTY, PLANT AND EQUIPMENT
Operating assets - note 13.1
7,056,837
7,747,259
Capital work in progress - note 13.5
485,562
751,571
7,542,399
8,498,830