Investor Presentaiton
ANNUAL REPORT
P
Private Power and Infrastructure Board
ANNUAL REPORT
Private Power and Infrastructure Board
Cash Flow Statement
For The Year Ended 30 June 2020
CASH FLOWS FROM OPERATING ACTIVITIES
Profit before tax
Adjustments for non-cash and other items:
Depreciation
Amortization
Return on held to maturity investments
Income on bank deposits
Interest on loan to employees
Provision for staff gratuity
Provision for leave encashment
Gain on sale of property and equipment
Unrealized foreign exchange gain - net
Net cash generated from operating activities
Effect of working capital changes:
(Increase) / decrease in advances, prepayments and other receivables
Increase / (decrease) in accrued and other liabilities
Gratuity paid
Leave encashment paid
Taxes paid
Net cash generated / (used in) from operating activities
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditure on property and equipment
Proceeds from sale of property and equipment
Decrease in long term loans and advances
Return on bank deposits
Interest on loan to employees
Return on held to maturity investments received
Investment made - net
Net cash used in investing activities
CASH FLOWS FROM FINANCING ACTIVITIES
NET INCREASE/ (DECREASE) IN CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR
EFFECT OF EXCHANGE RATE CHANGES
CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR
The annexed notes form an integral part of these financial statements.
155
MANAGING DIRECTOR
2020
2019
(Rupees in thousand)
Private Power and Infrastructure Board
Private Power and Infrastructure Board
Notes to the Financial Statements
For The Year Ended 30 June 2020
1
1.1
170,458
165,218
1.2
7,681
199
11,328
(110,468)
199
(73,566)
(15,754)
(8,810)
(6,651)
(3,439)
32,482
32,218
16,588
16,382
(2,031)
(14,685)
(135,063)
79,850
2,436
STATUS AND OPERATIONS
Private Power and Infrastructure Board (PPIB) was constituted in August 1994 under a Federal Government Notification to
act as one window organization on behalf of all the agencies and Ministries of the Government of Pakistan (GOP) to process
and facilitate private sector power projects, monitor their performance and perform all other related functions. The
registered office of PPIB is situated at Mauve Area, Sector G-8/1, Islamabad.
Private Power and Infrastructure Board (PPIB) Act No. VI of 2012 (the Act), was enacted on 02 March 2012 for
establishment of PPIB as a body corporate having perpetual succession & common seal, independent in performance of its
functions and competent to sue and be sued in its own name and acquire and hold property. As per the Act, PPIB is
responsible for implementing the power policies of the Government of Pakistan, the development and implementation of
power projects and related infrastructure in the private sector and on public-private partnership basis, enter into
agreements & contracts, to provide for matters connected therewith or incidental thereto, etc.
Upon commencement of the Act, the Private Power and Infrastructure Board established vide Federal Government's
Notification (hereinafter referred to as the former Board) stood dissolved and consequent to such dissolution:-
(a) all assets, rights, powers, authorities and privileges and all property, cash and bank balances, reserve funds, investment
and all other interests and rights in or arising out of such property and all debts, liabilities and obligations of whatever
kind of the former board subsisting immediately before its dissolution stood transferred to and vested in PPIB
constituted under the Act;
(b) all debts and obligations incurred or contracts entered into, rights acquired and all matters and things engaged to be
done by, with or for the former Board are deemed to have been incurred, entered into, acquired or engaged to be done
by, with or for PPIB;
(c) all suits and other legal proceedings instituted by or against the former Board, before its dissolution, are deemed to be
suits and proceedings by or against PPIB and will be proceeded or otherwise dealt with accordingly; and
(d) any reference to the former Board in any statutory instrument or document shall, unless the context otherwise requires,
be read and construed as reference to be PPIB.
(8,898)
26,811
44,228
(59,851)
17,913 (15,623)
(29,298) (82,588)
(16,874) (14,069)
(13,387)
(59,559) (102,753)
38,204
(6,096)
(115,940)
2
BASIS OF PREPARATION
10,875
(7,475)
2.1
Statement of compliance
2,031
(2,681)
(12,293)
19,089
7,592
6,651
84,628
3,439
59,851
(146,185)
(353,115)
(27,623) (299,970)
10,581 (415,910)
103,672
206,451
32,450
313,131
146,703
103,672
BOARD MEMBER
These financial statements have been prepared in accordance with approved accounting standards as applicable in Pakistan.
Approved accounting standards comprise of such International Financial Reporting Standards (IFRS) issued by the
International Accounting Standards Board as applicable in Pakistan.
2.2 Accounting convention
These financial statements have been prepared on the historical cost basis except financial instruments which are carried at
their fair values or amortized cost and staff retirement gratuity which is carried at present value of defined benefit
obligation net of fair value of plan assets. Assets transferred from Private Power Cell (PPC) are carried at their assigned
values as explained in note 3.1 to the financial statements.
2.3 Critical accounting estimates and judgments
The preparation of financial statements in conformity with the approved accounting standards requires the use of certain
critical accounting estimates. It also requires the management to exercise its judgment in the process of applying PPIB's
accounting policies. Estimates and judgments are continually evaluated and are based on historical experience and other
factors, including expectations of future events that are believed to be reasonable under the circumstances. The areas
where various assumptions and estimates are significant to PPIB's financial statements or where judgments were exercised
in application of accounting policies are as follows:
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