Investor Presentaiton
ANNUAL REPORT
PP
Private Power and Infrastructure Board
ANNUAL REPORT
Private Power and Infrastructure Board
2020
2019
4 PROPERTY AND EQUIPMENT
5 INTANGIBLE ASSETS - Computer softwares
NOTE
(Rupees in thousand)
Leasehold
land
Furniture
and fixtures
Leasehold
improvements
Computer
Office
equipment equipment conditioners
Air
Vehicles
Books, tools
and spares
Capital work
in progress
Note 4.1
Total
Rupees in thousand
At 30 June 2018
Cost
15,014
Accumulated depreciation
7,120
(4,412)
15,014
2,708
17,200
(11,192)
6,008
20,630
(14,571)
7,114
492
21,919
906
15,666
106,061
(5,145)
(234)
(15,167)
(783)
51,504
6,059
1,969
258
6,752
123
15,666
54,557
Year ended 30 June 2019
Opening net book value
15,014
2,708
6,008
6,059
1,969
258
6,752
123
15,666
54,557
Additions
1,354
1,067
108
4,911
35
7,475
Disposals:
Cost
(75)
(1,587)
(132)
(3,866)
(5,660)
Accumulated depreciation
75
1,587
132
3,866
5,660
Depreciation charge
(466)
(5,426)
(1,868)
15,014
3,596
582
5,258
(667)
1,410
(74)
(2,781)
(46)
(11,328)
184
8,882
112
15,666
50,704
At 30 June 2019
Cost
Accumulated depreciation
15,014
8,399
17,200
(4,803)
(16,618)
20,110
(14,852)
7,090
492
(5,680)
(308)
22,964
(14,082)
941
15,666
107,876
(829)
(57,172)
15,014
3,596
582
5,258
1,410
184
8,882
112
15,666
50,704
Year ended 30 June 2020
Opening net book value
15,014
3,596
582
5,258
1,410
184
8,882
112
15,666
50,704
Additions
1,092
1,200
1,391
1,302
-
5,886
4
10,875
Disposals:
Cost
(4,388)
(4,388)
Accumulated depreciation
3,964
3,964
(424)
(424)
Depreciation charge
(562)
(797)
(2,112)
15,014
4,126
985
4,537
(555)
2,157
(63)
121
(3,550)
10,794
(42)
74
15,666
(7,681)
53,474
At 30 June 2020
Cost
Accumulated depreciation
15,014
15,014
9,491
(5,365)
4,126
18,400
(17,415)
985
21,501
(16,964)
8,392
492
24,462
(6,235)
(371)
(13,668)
4,537
2,157
121
10,794
945
(871)
74
15,666
15,666
114,363
(60,889)
53,474
Rate of depreciation (per annum)
10%
33%
20%
15%
15%
20%
10%
4.1 Capital work in progress
Year ended 30 June
Opening book value
Amortization
Closing net book value
Cost as at 30 June
Accumulated amortization
Net book value
Amortization rate
6 LONG TERM INVESTMENTS
1,158
1,357
(199)
(199)
959
1,158
2,068
2,068
(1,109)
(910)
959
1,158
10%
10%
Fair value through other comprehensive income
National Investment Trust (NIT) 1,602,033 units (2019: 1,563,112 units)
Surplus/ (deficit) on remeasurement of investment to fair value
87,097
107,137
2,969
(22,103)
90,066
85,034
7 LOANS AND ADVANCES - at amortized cost
Loans and advances - considered good
Less: Current portion shown under current assets
7.1 & 7.2
9
53,688
51,007
(14,842)
(11,688)
38,846
39,319
7.1 These represent loan to employees for house construction, medical and other purposes and carry interest at the rate
of one year KIBOR prevailing when loan is granted. These are recoverable in equal monthly installments spread over
a period of 5 years and are secured against future gratuity payments of the employees and also indemnity bonds in
favor of PPIB executed by two employees of PPIB acting as sureties on behalf of employee obtaining loan.
This represents payments made to National Engineering Services Pakistan (Private) Limited, Capital Development Authority and Pakistan Environmental Protection Agency for planning and designing of construction of
building on leasehold land.
7.2 Loans to key management personnel
Opening balance
163
Loans adjusted during the year
Closing balance
2020
2019
(Rupees in thousand)
22,956
33,029
(4,612)
18,344
(10,073)
22,956
8 DEFERRED INCOME TAX ASSET
This comprises of following:
Deferred tax liability on taxable temporary differences in respect of:
Accelerated depreciation
(7,581)
(6,069)
Surplus on remeasurement of investments to fair value
(590)
(8,171)
(6,069)
Deferred tax asset on deductible temporary differences in respect of:
Provision for staff gratuity
11,645
9,343
Provision for leave encashment
6,896
Deficit on remeasurement of investments to fair value
271
18,541
9,614
10,370
3,545
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