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

NOTES TO YOUR REPORTS FOR THE ENDED JUNE 30, 2003
3 year. MONEY AND BANK BALANCES 3.1. RETURN ON THESE SAVINGS REPORTS IS ATTAINED AT RATES INCLUDING 2 percent TO 5 per cent
4. SHORT-TERM LOANS 4.1. These express loans to clients for a time period of up to 12 months on mark-up basis and are usually secured by means of lien on Certificates of Investment. The price of mark-up ranges from 14% to 21.5per cent per annum.

4.2. Included in these are cash market placements with different banking institutions along with other institutions that are financial. Return on these placements ranges from 5% to 13per cent.
5. ASSETS throughout the present 12 months, the business offered four federal federal government securities for Rs 182.288 million. The amortised price of these government securities ended up being Rs 159.394 million as well as the profit regarding the disposal of the securities amounted to Rs 22.894 million.

The administration made a decision to offer these securities to be able to realise the gain arising on these securities underneath the interest rate environment that is reduced.

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

This investment has been reclassified as ‘held for trading’ and is calculated at reasonable value. An increase of Rs 12.946 million happens to be credited into the 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 per cent
7. IMPROVEMENTS, BUILD UP, PREPAYMENTS ALONG WITH OTHER RECEIVABLES 7.1. The utmost aggregate amount due through the executive that is chief professionals at the conclusion of any thirty days throughout the year ended up being Rs 873,685 (2002: Rs 623,685) and Rs 81,302 (2002: Rs 229,232) correspondingly.
7.2. PROVISION FOR ANY OTHER RECEIVABLES 8. LONG-TERM LOANS – 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 home and therefore are repayable between three to a decade. Mark-up on these loans is charged at prices which range from 2 per cent to 6 percent per year.

The utmost aggregate amount due through the executive that is chief professionals at the conclusion of any thirty days through the 12 months 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 issued by the business: 9.2. THE INTERIOR PRICE OF RETURN ON LEASE CONTRACTS RECEIVABLE MAINLY START AROUND 9% TO 20% YEARLY
9.3. MINIMAL LEASE PAYMENTS RECEIVABLE 9.4. SUPPLY FOR POTENTIAL LEASE LOSSES 10. FIXED https://www.installmentcashloans.net ASSETS 11. FUNDS UNDER MARK UP ARRANGEMNETS 11.1. The facilities designed 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 various times by 15, 2003 august.

As well as 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 with 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 security that is represent gotten from lessees under rent agreements consequently they are adjustable on expiration associated with the respective rent durations.
14. REDEEMABLE CAPITAL – (NON-PARTICIPATORY) *The mark-up prices on these funds depend on the yield on treasury bills/SBP discount rates and so are modified on half basis that is yearly.

The mark-up prices on these funds derive from the average that is weighted of final three cut-off prices 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 particular leased assets and associated lease rentals. The facilities had been utilised for disbursement against leasing contracts executed by the organization.

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

14.3. Term Finance Certificates II are secured by a primary and exclusive fee over certain current and future leased assets and their associated receivables.
15. CERTIFICATES OF INVESTMENT

The organization has given certificates of investment underneath the authorization provided by the government.

These certificates of investment are for durations which range from three months to five years and return on these certificates varies from 5.00 to 7.50 % per year. Present maturity of long-lasting certificates of investment amounting to Rs. 110,732,000 (2002: Rs 88,163,000) is roofed liabilities that are undercurrent 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 associated with need raised by the riches Tax Officer for Corporate resource Tax of Rs 2,000,000 combined with tax that is additional of 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 business of Leasing.

17.3. The reserve for deferred taxation is produced depending on what’s needed associated with the no. That is circular granted by the Securities and Exchange Commission of Pakistan on September 9,1999.

The liability that is unrecognised of business for deferred taxation as at June 30, 2003 quantities to Rs Nil (2002: Rs 16.284 million).
18. COMMITMENTS 19. INCOME FROM FINANCE LEASE OPERATIONS 20. INCOME ON OPPORTUNITIES 21. DIFFERENT MONEY 22. FINANCIAL AND 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 taxation fee for the year that is current minimal fee at 0.5per cent of revenues.
26. STAFF PENSION GRATUITY

The most recent valuation that is actuarial of gratuity investment was completed as at June 30, 2003. The fair value associated with the fund’s assets and liabilities in the latest valuation date had been the following: Projected Unit Credit Method using the next significant assumptions ended up being employed for the valuation associated with Fund: 26.1. The expense of opportunities produced by the employees your your retirement funds operated by the business depending on their accounts that are audited at June 30, 2003 can be as follows: 27. TRANSACTIONS WITH ASSOCIATED UNDERTAKINGS 28. REMUNERATION OF CHIEF EXECUTIVE AND EXECUTIVES

The amount that is aggregate in these is the reason remuneration including all benefits, towards the Chief Executive and Executives is really as follows: Certain professionals are given with free usage of business maintained automobiles.

The aforementioned remuneration of leader relates to the ex-Chief Executive Officer regarding the business whom ceased to carry office w.e.f. April 30, 2003.

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