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NOTES TO AND FORMING
PART OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2020
250
PAKISTAN OILFIELDS LIMITED
44.2 Associated Companies incorporated outside Pakistan with whom the Group 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%
45.
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
2020
2019
Breakup of investments - at cost
Rupees ('000)
%age Rupees ('000)
%age
Mutual Funds
4,977
0.82
4,977
0.86
Government bonds
594,266
97.80
566,197
97.58
Cash and cash equivalents
8,386
1.38
9,042
1.56
607,629
100.00
580,216
100.00
Investments out of provident fund have been made in accordance with the provisions of section
218 of the Companies Act, 2017 and the rules formulated for the purpose.