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NOTES TO AND FORMING
PART OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2020
175
PAKISTANOILFIELDS LIMITED
Basis of Relationship
2020
2019
Rupees (‘000)
Attock Hospital (Private) Limited
Common directorship
Purchase of medical services
16,496
12,617
Attock Leisure and management
associates (Private) Limited
Common directorship
Purchase of services
3,774
-
Other associated entities
Dividend paid
16,427
18,597
Other related parties
Remuneration of Chief Executive, Directors
Honorarium & Key Management personnel
including benefits & perquisites
145,534
128,638
Dividend paid to key management
personnel
149,940
117,420
Contribution to staff retirement benefits plans
Management Staff Pension Fund and Gratuity Fund
86,911
84,311
Approved Contributory Provident Funds
30,494
30,416
Contribution to Workers' Profit Participation Fund
1,102,265
1,329,392
41.2 Details of associated Company incorporated outside Pakistan with whom the Company had
entered into transaction or had agreements are as follows:
i)
Name of undertaking
The Attock Oil Company Limited
ii)
Country of Incorporation
United Kingdom
iii)
Basis of association
Parent Company
iv)
Aggregate %age of shareholding
52.77%
42.
CONTRIBUTORY PROVIDENT FUND
Details of the provident funds based on unaudited financial statements of the funds are as follows:
2020
2019
Rupees ('000)
Net assets
665,649
642,145
Cost of investments made
607,629
580,216
%age of investments made
91%
90%
Fair value of investments made
627,026
592,971