final accounts 2005

7/30/2019 Final Accounts 2005

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1. STATUS AND NATURE OF BUSINESS

1.1 Reorganization and conversion

1.2 Status

1.3

2. BASIS OF PRESENTATION

3. STATEMENT OF COMPLIANCE

4.

ZARAI TARAQIATI BANK LIMITEDNOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2005

The Federal Government in its cabinet meeting held on 28 August 2002 decided for the reorganization and conversion of

Agricultural Development Bank of Pakistan into a public limited company for the purposes of ensuring good governance,

autonomy, deliveringhigh quality and viable financial services to a greater number of rural clientele and adequate returns to

stakeholders. Accordingly theAgricultural Development Bankof Pakistan (Reorganization and Conversion) Ordinance, 2002

was promulgated for taking over the entire undertaking of Agricultural Development Bank of Pakistan and for matters

connected therewith or incidental thereto.

Thus as required under section 3 of the Agricultural Development Bank of Pakistan (Reorganization and Conversion)Ordinance, 2002, Zarai Taraqiati Bank Limited was incorporatedaspublic limitedcompanyunder theCompanies Ordinance,

1984 on 23 October 2002. Consequently, under SRO 823 (1)/2002 dated 18 November 2002, all the assets, contracts,

liabilities, proceedings and undertakings of Agricultural Development Bank of Pakistan were transferred to, and vested in

Zarai Taraqiati Bank Limited on 14 December 2002.The Bank's principal office is situated at 1-Faisal Avenue (Zero Point),

Islamabad.The Bank operates 345 (31 December 2004:345) branches in Pakistan as at close of the year.

These financial statements havebeenpresented in accordance with the revised formof Accountsand Balance Sheet under

BSD Circular No. 36 dated 10 October 2001 issued by the Banking Supervision Department of Sate Bank of Pakistan.

These financial statements areprepared in accordance with the approved International Accounting Standards as applicable

in Pakistanand therequirements of theCompanies Ordinance, 1984and theBankingCompanies Ordinance,1962. Approvedaccountingstandards compriseof suchInternational Accounting Standardsasnotifiedunder the provisions of theCompanies

Ordinance,1984. Wherever therequirements of theCompanies Ordinance, 1984, BankingCompanies Ordinance,1962 or the

directives issued by theSecurities and Exchange Commisionof Pakistan (SECP) and the State Bank of Pakistan differ with

the requirements of these standards, the requirements of the Companies Ordinance,1984, Banking Companies Ordinance,

1962 or the requirements of the said directives take precedence.

The mainpurpose of the Bank is toprovidesustainable rural financeand servicesparticularly tosmall farmersand lowincome

houses to strengthen the rural and agricultural sector, mitigate poverty, capital market and investment activities and other

Banking business.

The Securities and Exchange Commission of Pakistan (SECP) has approved and notified the adoption of International

Accounting Standard 39, Financial Instruments; Recognition and Measurement and International Accounting Standard 40,

Investment Property. The requirements of thesestandards havenot beenfollowedinpreparation of thesefinancial statements

astheStateBankof Pakistan has deferredtheimplementation of thesestandards inPakistantill further instructions. However,investments havebeenclassified in accordancewith the requirments of the format prescribed bythe State Bank of Pakistan

for the financial statements.

These financial statements have been prepared on the historical cost convention as modified for the revaluation of certain

BASIS OF MEASUREMENT


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5. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

5.1 Staff Retirement Benefits

Pension Scheme

Gratuity Scheme

Provident Fund Scheme

Benevolent Scheme

Post retirement medical benefits

Employees Compensated Absences

The Bank also has two funded defined benefits benevolent fund schemes for its employees, separately for officers and for

clerical and non-clerical staff. Contribution to these schemes are made by employees and the bank. The employee's

contribution is matchedbyanequal contributionbythe bankwhich is also liabletomeet any shortfall in thefund, determined

on the basis of actuarial valuation. Transitional liability arising on first adoption of International Accounting Standard - 19

(revised 2000) "Employee Benefits" is recognized as an expense on straight line basis over five years from the date of its

adoption.

The Bank accounts for all accumulating compensated absences when the employees render service that increases their

The Bank operates anunfunded defined benefit post retirement medical benefit scheme for all of its employees. Provision is

made in the financial statements for thebenefit based onactuarial valuation. Actuarial gains/losses are accounted for in the

manner similar to pension scheme.

The Bank operates defined benefits funded pension scheme approved by income tax authorities, for its eligible employeeswho opted for the new employees benefits scheme, introduced in 1975 and 1977 for clerical/non-clerical staff and for

executives/officers, respectively. The bank's costs are determined on the basis of actuarial valuation carried out by

independent actuaries by using 'Projected Unit Credit Method'. Any surplus/deficit arising on actuarial valuation in excess of

the higher of 10% of present value of defined benefits obligations or 10% of the fair value of plan assets is recognized as

income or expense over the estimated working lives of the employees.

The Bank operatesanunfundeddefinedbenefit post retirement medical benefit scheme for all of its employees . Provision is

made in the accounts for the benefit based on actuarial valuation. Actuarial gains/losses are accounted for in the manner

similar to pension scheme.

The Bank operates defined benefits funded gratuity scheme approved by income tax authorities, for its eligibleemployees

who did not opt for the new employees benefits scheme, introduced in 1975 and 1977 for clerical/non-clerical staff and forexecutives/officers, respectively. Annual contributions aremadeonthebasis of actuarial recommendations. Any surplus/deficit

arising on actuarial valuation by independent actuaries in excess of the higher of 10%of present value of defined benefit

obligation or 10%of the fair valueof plan assets is recognized as income or expenseover the estimated working livesof the

employees.

The Bank operates a defined contribution funded provident fund scheme for its employees who did not opt for the new

employees benefits scheme introduced in 1975and 1977 for clerical/non clerical staff and for executives/officers respectively.

Under this scheme, equal contributions at defined rates are made by themember employees and the bank. The bank also

operates non-contributory provident fund for its employees who opted for the new employees benefits scheme, as

mentioned above. Under this, non contributory provident fund, contributions at defined rates are made by its member

employees only. Both of these provident funds are approved by the income tax authorities.


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5.3 Revenue recognition

5.4 Advances

5.5 Investments

Held for trading

Held to maturity

Availab le fo r sale

5.6

Gains or losses on disposals of investments are dealt with through profit and loss account in the year in which they arise.

These are investments with fixedordeterminablepayments and fixedmaturityand the Bank has the positive intent and ability

to hold them till maturity.

Impairment

In accordancewith BSD circularNo. 10and 14dated 13July 2004and 24September 2004respectively, issued by the State

Bank of Pakistan, the bank classifies its investment portfolio into 'Held for Trading', 'Held to Maturity' and 'Available for Sale

Securities' as follows:

These are investments acquired principally for the purpose of generating profits from short term fluctuations in price.

The surplus/deficit arising as a result of revaluation at fair value ontradingportfolio is taken to income andthat relating to the

available for sale portfolio is kept in a seperate account and shown below equity.

Advances arestated at net of provision for non-performing advances. Provision for non-performing advances isdetermined on

the basisof Prudential Regulations issued by the State Bank of Pakistanand charged to profit and loss account. Advances

are written off when there is no realistic prospect of recovery. As a further prudence, value of mortgage land and buildings

relating to non-performing loans and advances is treated as nil.

All purchases and sales of investments that requires delivery within the timeframe established by regulation or market

convention are recognized using the trade date method of accounting.

Quoted securities where ready quotes are available on Reuters Page (PKRV) or Stock Exchange, other than investments

classified as held to maturity, are valued at fair value. Investments classified as held to maturity are carried at amortised cost.

Investment in un quoted securities are carried at cost less impairment loss, if any.The difference between the face value and purchase price is amortised over the remaining life of the investment using

effective yield method, in order to determine amortised cost.

The carrying amount of assets are reviewed at each balance sheet date to determine whether there is any indication of

impairment of any asset or group of assets. If such indication exists, the recoverable amount of the assets is estimated. An

impairment loss is recognized whenever thecarryingamount of anasset exceeds its recoverable amount. Impairment losses

are recognized in profit and loss account.

Profit/(loss) on sale of investments is credited/charged to profit and loss account currently.

Dividend income is recognized when the Bank's right to receive has been established.

Markup/interest on advances and returns on investments are recognized on an accrual basis except markup/interest on

classified advanceswhich is recognizedona receipt basis, inaccordance with the Prudential Regulations issuedbytheState

Bank of Pakistan.

Commission is recognized when earned.

These are investments which do not fall under the held for trading and held to maturity categories.


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5.8 Taxat ion

Current

Deferred

5.9 Provisions

5.10 Foreign currencies

5.11 Related party transactions

5.12 Financial instruments

Provisions are recognized when the Bank hasa legal or constructive obligation asa result of past events and it is probable

that an outflow of resources will be required to settle the obligation and a realiable estimate of the amount can be made.

Provisions are reviewed at each balance sheet date and are adjusted to reflect current best estimate.

The Bank operates foreign currency transactions through State Bank of Pakistan in local currency by paying exchange

fluctuation risk fee to the State Bank of Pakistan.

All transactions undertaken between the Bank and the related parties are measured at arms' length prices determined in

accordance with themethods for determining arms' lengthprices asprescribed by the Securities and Exchange Commission

of Pakistan (SECP).

The above revision have been accounted for as changed in accounting estimate in accordance with the requirements of

International Accounting Standard (IAS) 8, "Accounting Policies, Changes in Accounting Estimates and Errors". Accordingly,

the effect of these changes in accounting estimates has been recognised propectively in the profit and loss account of the

current year. Had there been no change in these accounting estimates, the loss for the year would have been lower by

Rupees 2.270 million.

Financial instruments carried on the balance sheet include certain receivables, cash and bank balances, investments,

advances, borrowing fromfinancial institutions, deposits and other payables. The particular recognition methods adopted aredisclosed in the individual policy statements associated with each item.

Provision for current taxation is based on taxable income at thecurrent rate after taking into account tax credits, exemptions

and rebates as laid down in the applicable income tax law.

Deferred tax is provided usingthe balancesheet liabilitymethod, providing for all temporary differencesbetween the carrying

amounts of assets and liabilities for the financial reporting purposesand amount used for thetaxationpurposes. Theamount

of deferred tax provided is based on the expected manner of realization or settlement of the carrying amount of assets and

liabilities using the tax rates enacted at the balance sheet date. A deferred tax asset is recognized only to the extent it is

probable that future taxableprofit will beavailableand thecredits can beutilized. Deferred tax asset is reduced to the extent

that it is no longer probable that the related tax benefits will be realized.

International Accounting Standard (IAS) 16, "Property, Plant and Equipment (revised 2003)" is applicable to financial

statements covering annual periods beginning onor after 01January 2005and requires a reviewof residual valueof assets,

useful lives and depreciation method at each financial year end. Accordingly, based on a review of the above, the

management has revised the rate of depreciation on computer equipment from 20 percent to 33.3 percent.


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6. CASH AND BALANCES WITH TREASURY BANKS

Note

Local currency

In hand 395,962In current accounts with:

State Bank of Pakistan 6.1 1,189,047National Bank of Pakistan 412

1,585,421

6.1

7. BALANCES WITH OTHER BANKS

In Pakistan:

On current accounts 21,673On deposit accounts 7.1 7,792,171

Outside Pakistan:On current accounts -On deposit accounts -

7,813,844

7.1

8. INVESTMENTS

8.1

These carry a markup ranging from 2% to 12.75%.

2005

(Rupees in t

It represents deposits maintained with State Bank of Pakistan to comply with the regulations issued from time to

2005 2004

Investments by types Held by Given as Held by Given as

bank collateral bank collateral

Avai labl e for sale secur iti es

Listed companies 90,294 - 90,294 90,293 - 90,293

Unlisted companies 5,000 - 5,000 5,000 - 5,000

95,294 - 95,294 95,293 - 95,293

Held to maturity securities

Market treasury bills 5,940,943 - 5,940,943 595,331 - 595,331

Pakistan investment bonds 1,148,835 - 1,148,835 1,155,895 - 1,155,895

Federal investment bonds 815,342 2,866 818,208 864,050 3,037 867,087

Certificates of investment 4,572,758 - 4,572,758 - - -

Federal Government securities - - - - - -

Provincial Government securities - - - - - -

12,477,878 2,866 12,480,744 2,615,276 3,037 2,618,313

Total investments 12,573,172 2,866 12,576,038 2,710,569 3,037 2,713,606

- (413) (998) - (998)

Surplus on revaluation of securities 245,043 - 245,043 137,069 - 137,069

Investments at revalued amounts- net of provisions 12,817,802 2,866 12,820,668 2,846,640 3,037 2,849,677

Provision for impairment in value of

investments in listed shares (413)

Total Total

( R u p e e s i n t h o u s a n d )


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8.2 Inves tm en ts by s egmen ts

Federal Government Securities 8.3Market treasury bills 5,940,943Pakistan investment bonds 1,148,835

Federal investment bonds 818,2087,907,986

Add/(less) : Surplus/(deficit) on revaluation of Government securitie -7,907,986

Fully Paid up Ordinary Shares:

Listed Companies 8.4 90,294Unlisted Companies 8.5 5,000

95,294Add: Surplus on revaluation of listed shares 245,043

340,337

Certificates of investments 8.6 4,572,75812,821,081

Provision for impairment in value of investments in listed shares 8.7 (413)

Investments at revalued amounts - net of provisions 12,820,668

8.3 Principal terms of investments in Federal Government securities

8.3.1

8.3.2

8.4 Particulars of investments held in l isted companies

8.4.1

Federal Investment Bonds having amortised cost of Rupees 2.866 millions (Rupees 3.037 million: 31 Decepledged/lodged with State Bank of Pakistan as security for TT/DD discounting facility obtained for branches.

2005

Market Treasury Bills, Federal Investment Bonds and Pakistan Investment Bonds are held by the Bank wh

statutory liquid reserve requirements.

Note

(Rupees in t

Dadabhoy AgriculturalLeasingLimitedis under suspension sinceNovember 2001. At thedate of suspension, i

persharewasRupees250against its facevalueofRupees10pershare

No. of Ordinary SharesPaid up

value/shareName of companies 2005 2004

2005 2004 Rupees Note

280,090 280,090 10 Nestle Milkpak Limited 89,297 89,296

450,000 450,000 10 Uqab Breeding Farm Limited 585 585

150,000 150,000 10 Mubarik Dairies Limited 412 412

300,000 300,000 10 Dadabhoy Agricultural Leasing Limit 8.4.1 - -

90,294 90,293

(Rupees in thousand)

Name of investment Matur ity Pr incipal payment Rate Coupon payment

%

Market Treasury Bills January 2006 to August 2006 On maturity 7.68 to 8.68 at maturity

Pakistan Investment Bonds August 2011 to December 2011 On maturity 12 to 13 semi-annually

Federal Investment Bonds March 2008 On maturity 15 semi-annually


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8.5 Particulars of investments held in unlisted companies

8.5.1

8.5.2

8.5.3

8.5.4

8.6 Particulars of cert i ficates of investments

2005

8.7 Particulars of provision for impairment in value of investments in listed shares

Opening balance 998

Charge for the year -

Reversal for the year (585)

Closing balance 413

9. ADVANCESLoans, cash credits, running finances, etc.In Pakistan 64,744,526Outside Pakistan -

9.1.3 64,744,526Less:Provision for non-performing advances 9.2 (11,814,916)

Saudi Pak Kala Bagh Livestock Limited has defaulted in the repayment of loan and the case has been refeAccountability Bureau.

Market valueof listed investment is Rupees 333.046million and bookvalueof unlisted investments is Rupees

value of investment in unlisted securities is Rupees 31.697 million.

Larkana SugarMillsLimited is in the process of liquidation since February 2000andthere is noprobabilityof

amount invested on final settlement.

Investment in Saudi Pak Kalabagh Livestock Limited and Larkana Sugar Mills Limited are stated at book val

availabilityof required information for the calculation of breakup value. Moreover, these investments are fully

these financial statements.

(Rupees in t

Name of investee Maturi ty Principal payment Rate Coupon paymen

%Saudi Pak Industrial and

Agricultural Investment Co. January 2006 On maturity 11 at maturity

Pakistan Industrial Credit

and Investment Corporation January 2006 On maturity 11 at maturity

Pakistan Kuwait Investment

Company (Pvt.) Ltd. February 2006 to March 2006 On maturity 10.25 to 11.10 at maturity

Name of Investee NotesPercentage

of holding

Number of

shares held

Break up

value

Based on

audited

financial

statements

as at

Name of

Chief Executive/

Managing Director

Rupees

National Commodity Exchange Limited 12.50% 500,000 (2,123,845) 30 June 2005 Mr. Assim Jang

Saudi Pak Kala Bagh Livestock Limite 8.5.1 33.33% 1,000,000 - - Mr. M. Asad Khan

Pakistan Agricultural Storage and

Services Corporation Limited 8.33% 2,500 - - Maj.Gen.(R) F.A.Khan

Larkana Sugar Mills Limited 8.5.2 6.36% 141,970 - - Mr. Anwar Majeed


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52,925,286

9.1.3

9.2

9.2.1 Particulars of advances under non-performing status

9.2.2

9.2.3

-

34,263

-

9 3

( R u p e e s i n t h o u

Debts due by companies or firms in which the

directors of the bank are interested as

directors, partners or in the case of privatecompanies as members

Debts due by directors, executives or officers

of the bank or any of them either severally or

jointly with any other person

* The maximum amount has been calculated by reference to month-end balances.

Debts due by subsidiary companies, controlled

firms, managed modarabas and other related

parties

Advances include Rupees 23,424 million (31 December 2004 : Rupees 40,465 million) which have been pla

performing status as detailed below:

*Maximum t otal

advances includinadvances grante

year

Particulars of loans and advances todirectors and associated companies etc. Balance Outstanding as at31 December 2005

Specificprovisionamounting to Rupees 1,031million held under portfolioaudit has beenchargedoff as requi

Bank of Pakistan's Prudential Regulations for agricultural financing issued vide BPD circular No. 27 dated 22 Oc

Loans and advances have been shown in accordance with the BSD Circular No.9 dated 09 November 200

State Bank of Pakistan.

Th F d l G t h d id d i th ti f th F d l C bi t 28A t 2002 t C ti

Provisi on Provision

required held

Other Assets Especially Mentioned 5,567,675 - 5,567,675 - -

Substandard 9,121,312 - 9,121,312 1,824,262 1,824,262

Doubtful 3,489,465 - 3,489,465 1,744,732 1,744,732

Loss 5,245,922 - 5,245,922 5,245,922 5,245,922

Total 9.2.1 23,424,374 - 23,424,374 8,814,916 8,814,916Add: Provision under portfolio audit 9.3

General - - - - 3,000,000

Specific 9.2.2 - - - - -

23,424,374 - 23,424,374 8,814,916 11,814,916

2005


Category of classification Note Domestic Overseas Total

9,010,810 - 9,010,810 3,499,510 3,499,510

516,473 - 516,473 115,247 115,2472,407,319 - 2,407,319 743,648 743,648

11,489,772 - 11,489,772 4,456,511 4,456,511

23,424,374 - 23,424,374 8,814,916 8,814,916

Finance for livestock

Farm credit for inputs

Farm development financeLoan for purchase of machinery


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9.4

9.4.1

2005

3) The balance of provision of Rupees 1 billion in the financial statements for the year ending 31 December 20

2) Provision of Rupees 3 billion be created in the financial statements for the year ending 31 December 2004.

The State Bank of Pakistan has issued Prudential Regulations for Agriculture Financing during the current

Circular No. 27 dated 22 October 2005. These regulations require agricultural advances overdue by 90 days

and a half years and two years to be classified as OAEM, substandard, doubtful and loss respectively. Inregulations specify that provisionshould bemade in thefinancial statements equal to 20percent, 50percent, a

in respect of overdue agricultural advances classified as substandard, doubtful and loss respectively, of t

balance of principal and value of mortgaged land and building as valued at the time of sanctioning of loan.

required to bemade against theoutstandingbalanceofprincipal relatingto overdueagricultural advancesclas

Theseregulations also require that in any case the loan account shall be fullycharged off after three years f

Subsequently theMinistryof Finance, Government of Pakistanhas directed theBank vide their letter No. (6)-3

08June2005 to reverse the specificprovision created onthe basis of portfolio audit against loans andadvan

beensubsequentlyrecovered in thefinancial statements for theyearended2004andcomplywith theStateBa

Prudential Regulations for makingthenecessarytime based provisions. In complyingwith Ministry of Finance,

Pakistan's directives, the Bank has reversedthe specificprovision to the extent of recoveries against the spec

Rupees 3,000.799 million made in the accounts for the year 2003 over and above the Prudential Regulatio

pursuant to portfolio audit carried out as a part of restructuring process of the Bank.

Previously, provision was determined in respect of non performing agricultural advances in accordance wit

givenin thePrudential Regulations for Corporate / Commercial banking. Hadtheprovisionagainst agricultural

determined on previous years' basis, the specific provisionagainst non-performing loans and advances and

have been lower and higher by Rupees 2,573 million.

However, as a matter ofprudencethe Bank has not applied the adjustment factor of the value of mortgagedla

in determining the provisioning requirement against the non-performing loans and advances portfolio. Ha

mortgaged land and building been discounted strictly in accordance with the requirement of the Prudential

specificprovisionagainst non-performingadvancesasat31December 2005wouldhavebeenlowerandadvanbeen higher by Rupees 5,633 million respectively.

AccordinglyState Bank of Pakistan appointed an independent firmof Chartered Accountantswho carried out

and recommended a provision of Rupees 10 billion against its non-performing advances to meet the requi

Prudential RegulationNo. VIII of StateBankof Pakistan. The Bank incorporateda general provision of Rupee

yearended30June2002onthebasisof theprovisionalportfolioauditReport.Government ofPakistanapprove

ofRupees 07billionwhichwill beprovidedto ZaraiTaraqiati Bank Limited over a period of three years. Incons

the State Bank of Pakistan vide their revised letter No.BSD/SU-54/4033286/2004 dated 05 June 2004 hasprovision of Rupees 7 billion is to be provided by Zarai Taraqiati Bank Limited in their account in three installm

1) Provision of Rupees 3 billion be created in the financial statements for the year ending 31 December 2003.

2005 2004

Particulars of provision against

non-performing loans and advancesNote Specific General Total Specific General Total

Opening balance 22,566,660 3,000,000 25,566,660 20,992,982 3,000,000 23,992,982

Net charge for the year 4,731,992 - 4,731,992 3,406,277 - 3,406,277

Amounts written off 9.5 (18,479,412) - (18,479,412) (734,029) - (734,029)

Reversals under portfolio audit - - - (1,098,570) - (1,098,570)

Closing balance 8,819,240 3,000,000 11,819,240 22,566,660 3,000,000 25,566,660



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9.6

Note 2005

10. OTHER ASSETS

Income/mark-up accrued on loans and advances 10.1 2,085,487

Income/mark-up accrued on investments 178,026

Other advances, deposits, advance rent and other prepayments 63,902

Stationery and stamps on hand 10,970

Tax recoverable 10.2 308,053

Amount recoverable from Federal Government 10.3 -Presidential relief package 10.3 -

Relief Packages 939,468

Preliminary expenses 10.4 -

Branch adjustment accoun 792,819

Receivable from defined benefit plans 10.5 1,936,411

Stock in hand 14,640

Assets relating to Bangladesh 10.6 1,343,235

Receivable from Federal Government against Golden Hand Shake Scheme 2,643

Receivable from Pension Trust Fund against Golden Hand Shake Scheme 10.7 117,901

Receivable from Benevolent Trust Fund against Golden Hand Shake Sche 10.7 17,250

Suspense account 3,848

Non-banking assets acquired in satisfaction of claim 10.8 209,574

Others 10.9 15,208

8,039,435Less:Provision held against other assets 10.10 (28,737)

8,010,698

10.1

10.2

10.3

(Rupees in t

This includes an amount of Rupees 297.149 million receivable on account of minimum income tax levied by

authorities under Section80-Dof Income Tax Ordinance, 1979, forassessment years1991-92to 1998-99. Th

Bankwasexempt fromtax upto incomeyearended 30June1999. The Bank paid,under protest, thedisputedt

also filed writ petition in this respect in Lahore High Court, Rawalpindi Bench, Rawalpindi. Later on, the ba

petition ondirectionsof the Federal Government and the casewasreferred to the Lawand Justicedivisionof t

ofPakistanwhich decidedthereference inBanks favour. The Central BoardofRevenuedisagreed with theaf

and hasfurther taken upthe matter with Federal Cabinet for its review. Federal cabinet has referred the caseGeneral for final decision.Theadvice/decision of the Attorney General is still awaited. Since the Bank is very

favourable decision from the Attorney General, no provision in this respect has been made by the Bank in its bo

This includesanamount of Rupees 1,756million in respect of agricultural loansand advanceswhich has been

netting off interest suspense of Rupees 6,119 million ( 31 December 2004: 23,234 million). Further, the int

account amounting to Rupees 11,550 million has been charged off as required under State Bank of Pakis

Regulations for agricultural financing issued vide BPD circular No. 27 dated 22 October 2005.

The Bank has beenallowingremissions,under theinstructionsof theFederalGovernment fromtime to time,w

to Rupees 5,599.476million (31December 2004: Rupees 5,590.397million) includingRupees1,741.162millio

thePresidential Relief Package2002. The amount has now beenoff-setted against theprovisionheld asdesi

Committeeof theBoardofDirectors

In terms ofsub-section(3)of section 33(A) of theBanking Companies Ordinance, 1962thestatement of amo

written-off loans or any other financial relief of Rupees 500,000 or above allowed to a person(s) during the

December 2005isgiven atAnnexure-1 inrespectofproject loansonly.Furtheranadditional amountofRupee

has been charged off as required under State Bank of Pakistan'sprudential regulations for agricultural financ

BPD Circular No.27 dated22October2005whichhas not beenshown at annexure-1. However, this writeoff

the Bank's right to recover these debts from the customers.


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10.5.1

10.6

10.7

10.8

2005

10.9 Others

Defence Saving Certificate 17

Advance for purchase of machinery/goods in transi 17

Legal charges recoverable on suits filed against loan defaulter 15,174

Others -

15,208

10.10 Provision against other assets

Opening balance 5,615,277

Charge for the year 12,936

Receivable from Federal Government written off against provisions (5,599,476)

Closing balance 28,73711. OPERATING FIXED ASSETS

11.1

11.2

The detail of disposal of assets whose original cost or the book value exceed one million and two hundre

Rupees respectively, whichever is lower is NIL.

(Rupees in t

Market valueof non-banking assets acquired in satisfaction of claims is Rupees 358.680million. Market value

assets acquiredin satisfaction of claims for theyear ended 31December 2004, having bookvalueof Rupees

was not available.

It represents the amount receivable from Pension Fund Trust and Benevolent Fund Trusts against Golde

It represents theamount relating to theactivitiesof theBank inBangladesh(formerEast Pakistan)beforeits se

with thedecisioncontained in Finance Divisionletter No.F.5(12)PEC(op-FR)/78-236 dated06May1979, theB

interest at the rate of 8% on its loans and advances made in Bangladesh (former East Pakistan) with contr

liabilities (note-17) relating to its activities in Bangladesh.

It represents assets recognizedbytheBank asrequiredbyInternationalAccountingStandard-19"EmployeeB

its defined benefit schemes on the recommendation of independent actuaries.

Acquired Land and building having a book value of Rupees 217.341 million has been transferred to other a

assets acquired in satisfaction of claims.

01 January

2005Add itio ns

(Disposals

)/

(transfers)

31

December

2005

01

January

2005

Charge

for

the year

Adjus tme

nt for the

year

31

December

2005%

Land - freehold 276,195 - (105,234) 170,961 - - - - 170,961 -

Land - leasehold 10,640 - - 10,640 796 398 - 1,194 9,446 -

Building on freehold land 137,511 375 - 137,886 13,719 6,208 - 19,927 117,959 5

Building on leasehold land 415,794 45 (112,107) 303,732 41,674 13,103 - 54,777 248,955 5

Furniture, fixture and

office equipment 68,871 9,268 (4,321) 73,818 20,751 17,611 (1,302) 37,060 36,758 10/33

Vehicles 245,917 15,257 (18,744) 242,430 101,003 48,486 (13,121) 136,368 106,062 20

2005 1,154,928 24,945 (240,406) 939,467 177,943 85,806 (14,423) 249,326 690,141

2004 1,136,034 21,802 (2,908) 1,154,928 90,765 88,403 1,225 177,943 976,985


Rate

of

Deprecia

on

as at

31

December

P a r t i c u l a r s

C O S T AS AT ACCUMULATED DEPRECIATION AS AT


14/44

969,443

624,4469

1,593,898

38,30814,752,960

--

14,791,268

2004

ousand)

time

2005 2004

Held by Given as Held by Given as

bank collateral bank collateral

90,294 - 90,294 90,293 - 90,293

5,000 - 5,000 5,000 - 5,000

95,294 - 95,294 95,293 - 95,293

5,940,943 - 5,940,943 595,331 - 595,331

1,148,835 - 1,148,835 1,155,895 - 1,155,895

815,342 2,866 818,208 864,050 3,037 867,087

4,572,758 - 4,572,758 - - -

- - - - - -

- - - - - -

12,477,878 2,866 12,480,744 2,615,276 3,037 2,618,313

12,573,172 2,866 12,576,038 2,710,569 3,037 2,713,606

- (413) (998) - (998)

245,043 - 245,043 137,069 - 137,069

12,817,802 2,866 12,820,668 2,846,640 3,037 2,849,677

(413)

Total Total



15/44

595,3311,155,895

867,0872,618,313

-2,618,313

90,2935,000

95,293137,069

232,362

-2,850,675

(998)

2,849,677

ber 2004) are

2004

ich also covers

ousand)

its market value

Name of companies 2005 2004

Note

Nestle Milkpak Limited 89,297 89,296

Uqab Breeding Farm Limited 585 585

Mubarik Dairies Limited 412 412

Dadabhoy Agricultural Leasing Limit 8.4.1 - -

90,294 90,293


Princi pal payment Rate Coupon payment

%

to August 2006 On maturity 7.68 to 8.68 at maturity

December 2011 On maturity 12 to 13 semi-annually

On maturity 15 semi-annually


16/44

2004

-

998

-

998

79,902,100-

79,902,100

(25,562,137)

red to National

5 million. Face

any recovery of

lue due to non-

provided for in

housand)

Pr inci pal paymen t Rate Coupon paymen t

%

6 On maturity 11 at maturity

6 On maturity 11 at maturity

06 to March 2006 On maturity 10.25 to 11.10 at maturity

Percentage

of holding

Number of

shares held

Break up

value

Based on

audited

financial

statements

as at

Name of

Chief Executive/

Managing Director

Rupees

12.50% 500,000 (2,123,845) 30 June 2005 Mr. Assim Jang

33.33% 1,000,000 - - Mr. M. Asad Khan

8.33% 2,500 - - Maj.Gen.(R) F.A.Khan

6.36% 141,970 - - Mr. Anwar Majeed


17/44

54,335,440

-

34,263

-

s a n d )

ced under non-

amount of

g temporary

d during the

redunder State

tober 2005.

3 issued by the

i / t t

Provisi on Provision

required held

5,567,675 - 5,567,675 - -

9,121,312 - 9,121,312 1,824,262 1,824,262

3,489,465 - 3,489,465 1,744,732 1,744,732

5,245,922 - 5,245,922 5,245,922 5,245,922

23,424,374 - 23,424,374 8,814,916 8,814,916

- - - - 3,000,000

- - - - -

23,424,374 - 23,424,374 8,814,916 11,814,916

2005


Domestic Overseas Total

9,010,810 - 9,010,810 3,499,510 3,499,510

516,473 - 516,473 115,247 115,2472,407,319 - 2,407,319 743,648 743,648

11,489,772 - 11,489,772 4,456,511 4,456,511

23,424,374 - 23,424,374 8,814,916 8,814,916


18/442004

05.

year vide BPD

, one year, one

addition, thesend100percent,

he outstanding

No provision is

ifiedasOAEM.

rom the date of

IF-I/2005dated

ces which have

nkofPakistan's

Governmentof

ific provisionof

ns provisioning

the guidelines

advancesbeen

dvances would

ndand building

d the value of

Regulation, the

ceswouldhave

a portfolio audit

irement of the

s 3 billion in the

d cashsupport

equence to this

llowed that the

nts as follows:

2005 2004

ecific General Total Specific General Total

2,566,660 3,000,000 25,566,660 20,992,982 3,000,000 23,992,982

4,731,992 - 4,731,992 3,406,277 - 3,406,277

8,479,412) - (18,479,412) (734,029) - (734,029)

- - - (1,098,570) - (1,098,570)

8,819,240 3,000,000 11,819,240 22,566,660 3,000,000 25,566,660



19/44

2004

3,537,383

152,168

73,396

10,114

308,053

3,849,2901,741,162

-

6,570

593,184

1,564,267

14,808

1,313,865

1,532,217

237,901

41,09212,784

-

8,789

14,997,043(5,615,277)9,381,766

ousand)

the income tax

e income of the

axdemand and

k withdrew the

heGovernment

resaiddecision

to the Attorneyconfident for a

oks of account

arrived atafter

erest suspense

tan's Prudential

ich aggregates

nallowedunder

ed by the Audit

nt inrespect of

year ended 31

s 13,705million

ing issued vide

doesnot affect


20/44

2004

17

178,748

8

8,790

5,612,579

2,698

-

5,615,277

fifty thousand

housand)

of non-banking

217.472million,

n Hand Shake

paration. In line

ank is accruing

increase in its

enefits" against

ssets being the

als

ers)

31

December

2005

01

January

2005

Charge

for

the year

Adjus tme

nt for the

year

31

December

2005%

234) 170,961 - - - - 170,961 -

- 10,640 796 398 - 1,194 9,446 -

- 137,886 13,719 6,208 - 19,927 117,959 5

107) 303,732 41,674 13,103 - 54,777 248,955 5

321) 73,818 20,751 17,611 (1,302) 37,060 36,758 10/33

744) 242,430 101,003 48,486 (13,121) 136,368 106,062 20

406) 939,467 177,943 85,806 (14,423) 249,326 690,141

908) 1,154,928 90,765 88,403 1,225 177,943 976,985


Rate

of

Depreciati

on

as at

31

December

ACCUMULATED DEPRECIATION AS AT


21/44

11.3

Particulars

of AssetsCost

Acc umu lated

DepreciationBook Value Sale proceeds Gain/(loss) Particulars of buyers

TLC-5 Door

IDF-1149

700,001 490,000 210,000 1,250,000 1,040,000 Mian Allah Ditta S/O Mian Nawab R/O

Mati Sau The. K/Wala, KhanwalTLC-5 Door

IDE-8871

700,001 490,000 210,000 1,400,000 1,190,000 M.Aslam Tahir R/O. H.No.P-1566-2,

Asghar Mall Scheme, RWP.

TLC-5 Door

IDF-1306

700,001 490,000 210,000 1,160,000 950,000 AwaisAli KhanR/OH.No.B-150, St.No.4,

Mohalla Lala Rukh, Wah Cantt.

TLC-5 Door

IDF-1147

700,001 490,000 210,000 1,110,000 900,000 Raja M.Aftab Satti R/O H.No.B-6-150,

Mohammadi Colony, Shakrial Rwp.

TLC-5 Door

IDF-1499

700,001 490,000 210,000 1,250,000 1,040,000 Qamar Naseer Ahmed R/OH.No.67168,

Army Colony, No.2 Rwalpindi

TLC-5 Door

IDF-1320

700,001 490,000 210,000 1,450,000 1,240,000 M.Aurang Zeb Khan R/O H.No. P-1547-

A/1, Naseern House Asghar Mall

Scheme, Rawalpindi

TLC-5 Door

IDF-1146

700,001 490,000 210,000 1,190,000 980,000 Moharam Khan Raja R/OH.No.Z 670-A,

Dhoke Rata, Raja St. Babu Lal Hussain

Road, Rawalpindi

TLC-5 Door

RIU-1457

700,001 490,000 210,000 1,420,000 1,210,000 Zahid Akbar R/O H.No.987 St.No.96, I-

10/1, Islamabad

TLC-5 Door

RIU-1458

700,001 490,000 210,000 1,120,000 910,000 M.Yousaf Amjad S/OAbdul Ghafoor,R/O

H.No. E-1/4, St.No.10,G/7-2, Islamabad

TLC-5 Door

RIU-1414

700,001 490,000 210,000 1,430,000 1,220,000 Sarda Sajid Ahmed, R/OH.No.5-A, St.42

Moh. Quaid-e-Azam Colony Dhomial

Road, Rawalpindi

TLC-5 Door

RIU-1440

700,001 490,000 210,000 1,210,000 1,000,000 Tariq Mehmood R/O Near Mian Bazar

Bara Kahu, Mohallad Rafiqabad,

Islamabad.

TLC-5 Door

IDF-1042

700,001 490,000 210,000 1,300,000 1,090,000 Masood Ahmed Arif R/O Garden Town

Highway, H.No.Kh-1376 Khana Dak

Islamabad.

TLC-5 Door

IDF-1308

700,001 490,000 210,000 1,400,000 1,190,000 Rana M.Nawaz R/O Chak No.17 Vcc,

The Ferozwala, Sheikhupura

T.Coastar

IDE-5048

700,001 490,000 210,000 1,300,000 1,090,000 Imtiaz A.Warriach R/O Near Moon Light

School, Shahzed, St. Mohalla Margazar

Colony, Gujrat

TLC-3 Door

MDAA-540

600,001 420,000 180,000 780,786 600,786 Mumtaz Mohammad Khan R/O Tibba

Sultanpur, The. Mailsi, Distt. Vehari

TLC-3 Door

GP-2043

600,001 420,000 180,000 720,000 540,000 Malik Sikandar Khan Awan R/O Club

Road H.No.102 Bukhari St.Sargodha.

TLC-3 Door

GP-2041

600,001 420,000 180,000 856,000 676,000 ABDUL Rashid Khan R/O H.No.9-A,

Circular, Road Abbottabad Cantt.

TLC-3 Door

MNQ-4406

600,001 420,000 180,000 866,666 686,666 Masood-ur-Rehman Khan R/OH.No.Nw-

1012, Rehmanabad S/Town Rawalpindi

TLC-3 Door

LSA8801

600,001 420,000 180,000 707,707 527,707 Abid Ansar R/O H.No.80 Badar Block,

All I b l T L h

Detail of disposals of op erating fixed assets.


22/44

Particulars

of AssetsCost

Acc umu lated

DepreciationBook Value Sale proceeds Gain/(loss) Particulars of buyers

S/Mehran

IDF-4785

100,001 70,000 30,000 192,000 162,000 QaziAhmedHaroonS/OShamimAhmed

R/O, H.No.75-b Commercial Market

S/Town Rawalpindi

Suzuki Van

IDB-9376

80,001 56,000 24,000 151,000 127,000 Sheikh Muhammad Nazir, H.No.k-606,

Sarfraz Road, Rawalpindi

Honda

accord IDD-

991

400,001 280,000 120,000 555,556 435,556 Muhammad Pervez R/O H.No.599

St.No.14, G-10/1, Islamabad

T/Pick-up

IDA-9788

250,001 175,000 75,000 472,999 397,999 Abdul AzizShahR/OShah Street Behind

superior, Science College, Mohallah

Hafizabad Peshawar

N-Pick-up

IDB-2185

95,001 66,500 28,500 176,787 148,287 MuhammadShahR/OQuarter No.1-V-3,

Civil Colony Cantt. Road Peshawar

T Hiace IDF-

6391

300,001 210,000 90,000 490,000 400,000 Muhammad Hasaq R/O Haju Ghabi

Road, Shaldara Quetta

T.Corolla

IDD-4070

400,001 280,000 120,000 195,325 75,325 Sahib Nawaz Khan, SED (Rtd.)

S/Car IDD-

6460

90,001 63,000 27,000 94,590 67,590 Sher Zaman Khan Director (Rtd.)

S/Mehran

IDE-9707

90,001 63,000 27,000 71,936 44,936 Anwar Shirani, Director (Rtd.)

S/MehranLOM-24

90,001 63,000 27,000 72,330 45,330 RA Mazhar Director (Rtd)

S/Mehran

PRP-2638

90,001 63,000 27,000 89,044 62,044 Sultan Muhd Khan Director (Retired)

Toyota

Corolla Car

LSA-5507

400,001 280,000 120,000 277,636 157,636 Mr.M.Rafiq Saroya, ED (Retired) HO, Ibd.

Yamaha 100

CC MRF-

1927

30,001 21,000 9,000 28,520 19,520 Mr.Iftikharullah PP.No 081123, EAD/

Credited Officer, ZTBL, Shergarh Br.

Yamaha 100

CC MRF-

1930

30,001 21,000 9,000 26,168 17,168 Mr.Azam Khan, PP.No.061908, AD/,

Accouts Officer ZTBL, Takht Bhai

Yamaha 100

CC SB-6501

30,001 21,000 9,000 24,679 15,679 Mr.Azam Khan, PP.No.061908, AD/,

Accouts Officer ZTBL, Takht Bhai

SKE-763

Yamaha

22,001 15,400 6,600 9,999 3,399 Mr.Abdul Hakim Soomro, N/Qasid,

Sheikhupura

SKE-772

Yamaha

22,001 15,400 6,600 18,200 11,600 Mr.Zulfiqar Ali Shaikh EAD/MCO

Kandhkot Br.Yamaha 100

CC BRF-

30,001 21,000 9,000 15,800 6,800 Mr.M.Ramazan, N/Qasid, RMO,

Bahawalpur

Yamaha 100

CC BRF-

30,001 21,000 9,000 15,700 6,700 Mr.Abdul Ghaffar,Driver, RMO,

Bahawalpur

Yamaha 100

CCBRF-

30,001 21,000 9,000 19,747 10,747 Mr.Shakil Ahmed, Driver,Bahawalpur

Branch


23/44

2005 2004

Note

12. DEFERRED TAX ASSETS

Deferred tax arising in respect of

Tax depreciation 1,829 1,222

1,829 1,222

13 CONTINGENT ASSETS

14 BILLS PAYABLE

In Pakistan 235,741 197,434

Outside Pakistan - -

235,741 197,434

15 BORROWINGS FROM FINANCIAL INSTITUTIONS

In Pakistan 51,257,213 51,257,213

Outside Pakistan - -

51,257,213 51,257,213

15.1 Particulars of borrowings from financial institutions

In local currency 51,257,213 51,257,213

In foreign currencies - -51,257,213 51,257,213

Secured

Borrowings from State Bank of Pakistan

Agricultural loans 15.2 50,174,089 50,174,089

Agri-Project loans 15.3 1,083,124 1,083,124

51,257,213 51,257,213

15.2


As per agreement with the State Bank of Pakistan, these loans were obtained for providing finance to customers foragriculture purposes. Three credit lines amounting to Rupees 1.577 billion carry interest rate of 4% per annum while

remaining thirty two credit lines amounting to Rupees 49.680 billion are based on profit and loss sharing subject to

maximumshare of profit to State Bank of Pakistan ranging from4%to 10%per annum. Theseloans aresecured by way

of guarantee of Government of Pakistan.The bank has submitted a proposals to State Bank of Pakistan for restructuring

the debt according to which the State Bank of Pakistan's debt of Rupees 51 257 billion and State Bank of Pakistan's

The Government of Pakistan has reduced the markuprates on Bank's advances from14%to 9%vide Presidential Relief

Package 2004 w.e.f. 01 July 2004. As per the directive of the bank's Board of Directors, the bank has requested the

Ministry of Finance to compensate the loss of revenue due to this reduction in rate of markup. The total claim in this

respect has provisionally been worked out at Rupees 3,640 millions for the period from 01 July 2004 to 31 December

2005. However, this amount has not been accounted for in the accounts as the formal approval from Ministry of Finance

has not been received by the bank.


24/44

15.3

2005 2004Note

16 DEPOSITS AND OTHER ACCOUNTS

Customers

Fixed deposits 64,742 69,665

Saving deposits 111,724 160,886

Current accounts - remunerative 297,174 245,459

Current accounts - non-remunerative 2,136,334 2,622,759Others - unclaimed deposits 34,673 23,437

16.1 2,644,647 3,122,206

16.1 Particulars of deposits

In local currency 2,644,647 3,122,206

In foreign currencies - -

2,644,647 3,122,206

17 SUB-ORDINATED LOAN

2005 2004

Note

18 OTHER LIABILITIES

6,624,360 6,301,937

Accruedexpenses 37 512 37370


Since thecapping ofmarkupchargesat2.3558%hasnot beenagreed bySBPwhichis ofcritical importance for the future

financial viability and sustainability of Bank, the matterhas beenreferred toMinistry of Financefor consideredgovernment

decision. However the markup onsub-ordinated debt at the rate of 2.3558% (from14December 2002 to 30June2004),

2.1867%(from01 July 2004 to 30 June 2005) and at the rate of 8.4009%(from01 July 2005 to 31 December 2005) has

been charged which is subject to adjustment on finalization of debt restructuring/repricing agreement with State Bank of

Pakistan.


Mark-up/ return/ interest payable in local currency

As per restructuring plan of the Bank approved by the ECC of the cabinet, State Bank's Equity holding of Rupees 3.204

billions wasconverted into sub-ordinated loan on terms to beagreed with State Bank of Pakistan. Accordingly, the Bank

has submitted a proposal to State Bank of Pakistan for repayment of the loan in 15 years in 30 bi-annual installments

starting fromJuly 2006 and rate of markup tobe pegged at weighted average yield of 12 months treasury bill rate at the

rate of 2.3558%per annum as per treasury bill auction dated 12 June 2003 and capped at the aforesaid markup rate for

an initial period of fiveyears. State Bank of Pakistan vide its letter No. ACD/3104/Loans-15-A/2004 dated 16 December

2004 has agreed with proposed terms except the proposed capping of markuprate whichhas beenfixed onlast auction's

weighted yield of Government Treasury bill of 12 months maturity on floating basis every year.

Theseloans weregiven by the State Bank of Pakistan for the purposeof providing finance to agrobased industry. These

aresubject toprofit and losssharing withamaximumshareof profit toStateBank of Pakistan ranging from4%to6%per

annum. These are secured by guarantee given by the Government of Pakistan. The bank has submitted a proposal to

State Bank of Pakistan for restructuring of the debt as stated in note 14.2.


25/44

18.1

2005 2004

19 DEFERRED INCOMEOpening balance 17,105 -

Receipt during the year against Senior Management Team Remuneration 17,121 23,454

Amortization during the year 32,178 6,349

Closing balance 2,048 17,105

20 SHARE CAPITAL

20.1 Authorized Capital

25,000,000 25,000,00020.2 Issued, subscribed and paid up

1,186,961,201 ordinary shares of Rupees 10 each fully paid 11,869,612 11,869,611

11,869,612 11,869,611

Shareholder

Rupees

Government of Pakistan 1,185,961,201 10 11,859,612 11,859,611

Government of Punjab 277,100 10 2,771 2,771Government of Sindh 119,000 10 1,190 1,190

Government of NWFP 68,000 10 680 680

Government of Balochistan 35,900 10 359 359

Erstwhile East Pakistan 500,000 10 5,000 5,000

1,186,961,201 11,869,612 11,869,611

21 ADVANCE AGAINST EQUITY

22 STATUTORY RESERVE

23

24 SURPLUS/(DEFICIT) ON REVALUATION OF ASSETS

Surplus on revaluation of fixed assets

Less: Surplus on disposal - -Incremental depreciation - -

- -Surplus on revaluation of securities

i) Federal and Provincial Government securities - -

ii) Quoted shares 242,543 134,569

iii) Other securities 2,500 2,500

It represents the amount of Rupees 9.715 million, Rupees 168.000 millionand Rupees 175.000 million payable to Ministry of

Food Agriculture and Livestock under Japanies KR-II grant-1996, Crop Maximization Project-Productivity enhancement on

sustainable basis and incentive for Baluchistan respectively.


This represent reserve maintained as per requirement of Section 21 of the Banking Companies Ordinance ,1962.

2,500,000,000 Ordinary Shares of Rupees 10 each

(31 December 2004: 2,500,000,000 ordinary shares of Rupees 10 each)

An amount of Rupees 2,918,955,000 was transferred by the Federal Government as cash equity against which the shares

amounting to Rupees 2,918,953,990have been issued duringthe year ended 31December 2004and thebalance of Rupees

1,010 have been issued during the year ended 31 December 2005.

CONTINGENCIES RESERVE

(31 December 2004: 1,186,961,100 shares of Rupees 10 each fully paid)

The Bank has set aside contingencies reserve for insurance of cash, building and vehicles.

Number of

ordinary shares

Paid-up value

per share


26/44

25.3

25.4

Note 2005 2004

26 MARK UP/RETURN/INTEREST EARNED

5,479,450 7,911,216

- -

- -

290,496 599

1,052,773 193,568

6,822,719 8,105,383

27 MARK UP/RETURN/INTEREST EXPENSED

5,115 4,641

- -

385,502 3,129,062

1,121 2,033

391,738 3,135,736

28 OTHER INCOME

Rent on property 7,326 1,777

Net profit/ (loss) on sale of property and equipment 23,591 (14)Loan application fee 309,875 310,629

Excess provision relating to defined benefit plans 28.1 270,279 305,018

Others 28.2 185,269 322,580

796,341 939,990

28.1

28.2 OTHERS

Recovery of loans transferred to proforma ledger 15,250 3,529

Sale proceeds of forms 3,771 3,975

Recovery charges 41,062 217,325

Postal charges received from loanees 44,226 45,755

Recovery of private use of vehicles 753 685

Miscellaneous income 80,207 51,311

On deposits with financial institutions

Income tax of Rupees 929.632 million was levied by the income tax department for assessment year 2001-2002, against

provision of Rupees326.281millionin the books of account of the Bank for that assessment year. TheBank has paid Rupees

785,103 million and also filed appeal before the Commissioner of Income Tax (Appeals) agaist the aforesaid order. The

commissioner has setasidethe aforesaid order. However, the tax department preferred an appeal against theorder of CIT(A)

before the ITAT which is pending for hearing.

iii) Held to maturity securities

Income tax of Rupees 1,928.362 million was levied by the income tax department for assessment year 2002-2003, against

provisionofRupees 1,919.929 millionin thebooks ofaccount of theBank for that assessment year.The Bankhas paidRupees

577.092 million against the said demand and also filed an appeal before the Commissioner of Income Tax (Appeals). The

commissioner has setasidetheaforsaid order and now tax department preferred anappeal against theorder of CIT(A) before

the ITAT.

On loans and advances to

On investments in:

ii) Available for sale securities

i) Held for trading securities

i) Customers


Deposits

Short term borrowings - State Bank of Pakistan

Long term borrowings - State Bank of Pakistan

Bank commission and other charges

Excess provision in respect of definedbenefit plans has beenwritten backonthe basis of actuarial valuation carriedout by an

independent actuarial valuer.


27/44

Note 2005 2004

29 ADMINISTRATIVE EXPENSES

Salaries, allowances etc. 2,062,107 1,945,280

Contribution to defined contribution plan - Provident Fund 240 389

Non-executive directors' fees, allowances and other expenses 649 134Rent, taxes, insurance, electricity, etc. 75,231 72,011

Legal and professional charges 3,800 2,661

Communications 35,275 37,240

Repairs and maintenance 10,534 10,785

Motor vehicles expenses 162,920 143,594

Traveling expenses 72,579 77,588

Stationery and printing 21,968 22,699

Advertisement and publicity 14,142 13,194

Auditors' remuneration 29.1 3,386 2,814Depreciation 11 85,806 88,403

Amortization of preliminary expenses 6,570 2,190

Others 24,952 18,269

2,580,159 2,437,251

29.1 Auditors' remunerat ion

Audit fee 1,200 924

Fee for audit of foreign branches - -

TA/DA for auditors 1,333

Special certifications and sundry advisory services 400 240

Tax services 227 742

Out of pocket expenses 226 908

29.2 3,386 2,814

29.2 Particulars of auditors' remuneration

RIAZ AHMAD RIAZ AHMAD

& COMPANY & COMPANY

Audit fee 600 600 1,200 462 462 924

Tax services - 227 227 - 742 742

Other certification 200 200 400 120 120 240

Out of pocket expenses 1,014 545 1,559 454 454 908

1,814 1,572 3,386 1,036 1,778 2,814

* Khalid Majid Rahman Sarfaraz Rahim Iqbal Rafiq

30 OTHER CHARGES

Penalties imposed by State Bank of Pakistan 3,802 2,196

3,802 2,196

31 TAXATION

For the year

Current 38,434 503,234

D f d (607) 5

KMRSRIR* TotalTotal


KMRSRIR*

2004


2005


28/44

Note 2005 2004

31.1 Relationship between tax expense and accounting profit

Accounting profit / (loss) for the current period (91,367) 1,167,225

Add: Deferred cost - -

Accounting depreciation 85,806 88,403Less: Tax depreciation 23,129 22,936

(28,689) 1,232,692

Tax - excluding dividend income 38,111 502,932

Tax on dividend income 323 301

Tax for the current period 38,434 503,234

Applicable tax rate 0.5% 41%

32 BASIC EARNINGS PER SHARE

Profit / (loss) for the period Rupees in thousand (129,194) 663,986

Number of ordinary shares Numbers in thousand 1,186,961 1,065,338

Earnings per share Rupees (0.11) 0.62

33 CASH AND CASH EQUIVALENTS

Cash and balance with treasury banks 1,585,421 1,593,898

Balance with other banks 7,813,844 14,791,268

9,399,265 16,385,166

34 STAFF STRENGTH

Total number of employees at the end of the year Number of Employees 5,727 5,801

35

35.1 Pension scheme

35.2 Principal actuarial assumption

Valuation discount rate - 9% per annum

Expected rate of increase in salary - 8% per annum

Expected rate of return on investments - 9% per annum

35.3 Reconciliation of payable/ (recoverable) to/ (from) pension fund

Present value of obligation 2,794,466 2,209,128

Fair value of assets (4,057,773) (3,885,766)

Unrecognized actuarial gain/(loss) 484,606 1,123,696

(778,701) (552,942)35.4 Movement in payable/ (recoverable) to/ (from) pension fund

Opening liabilit (552,942) (415,267)

Charge for the period 35.5 (138,553) (51,500)

Contribution to fund made during the period (87,206) (86,175)

Closing liability/(asset) (778,701) (552,942)

DEFINED BENEFIT PLANS


The latest actuarial valuation is carried out as at 31December 2005. Theactuarial valuations were made using the Projected

Unit Credit Actuarial Cost method based on the following significant assumption:

For newemployeesand for thosewhooptedfor thenewscheme introducedin1975forclerical staff and in1977forofficers, the

Bank operates an approved funded pension scheme on which monthly contributions are made on the basis of actuarial

recommendation.


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Benevolent scheme - officers / executives

35.6 General Descript ion




Note 2005 2004

35.8 Reconciliation of payable/(receivable) to /(from) benevolent fund

Present value of obligation 187,332 193,799

Fair value of plan assets (386,738) (381,310)

Unrecognized part of transitional liabilit - -

Unrecognized actuarial gain/(loss) 42,971 47,093

(156,435) (140,418)

35.9 Movement in payable/(recoverable) to/ (from) benevolent fund

Opening liabilit (140,418) (117,386)

Charge for the period 35.10 (11,346) (18,624)Contribution to fund made during the period (4,671) (4,408)

Closing liability/(asset) (156,435) (140,418)

35.10 Charge for benevolent fund

Current service cost 9,015 8,168

Interest cost 15,504 13,952

Expected return on plan assets (30,505) (26,650)

Acturial (gain)/losses recognized (689) (9,686)

Transitional liability recognized - -

Contributions from employees (4,671) (4,408)(11,346) (18,624)

Benevolent scheme-clerical/non-clerical

35.11 General Description




35.13 Reconciliation of payable/(receivable) to /(from) benevolent fund

P t l f bli ti 49297 54794

For all officers/executives, the Bank operates an approved funded benevolent scheme to which contributions aremade at the

rate2%of basicpay to a maximumof Rupees 100, byeachofficer/executive. Employee contributions arematched byanequal

amount of contributions by the Bank which is also liable to meet any shortfall in the fund.

The latest actuarial valuation is carried out as at 31 December 2005. Actuarial valuation was made using the following

significant assumption:

For all clerical/non-clerical staff, theBank operatesanapprovedfunded benevolent scheme to which contributionsaremade at

different rates but not exceedingRupees 100 by each employee. Employee contributionsare matched by anequal amount of

contributions by the Bank which is also liable to meet any shortfall in the fund.

The latestactuarial valuationiscarriedout asat31December 2005. Actuarial valuationwasmade usingthefollowingsignificantassumption:



30/44

Note 2005 2004

35.14 Movement in payable/(recoverable) to/ (from) benevolent fund

Opening liabilit 43,643 49,275

Charge for the period 35.15 (6,247) (3,146)


Closing liability/(asset) 34,760 43,643

35.15 Charge for benevolent fund

Current service cost 3,544 4,028

Interest cost 4,384 4,610


Acturial (gain)/losses recognized (12,874) (12,078)

Contributions from employees (2,637) (2,485)

Transitional liability recognized 15,178 15,178(6,247) (3,146)

Gratuity scheme

35.16 General description




35.18 Reconciliation of payable/(recoverable) to/ (from) gratuity fund

Present value of obligation 275 635

Fair value of plan assets (1,296,996) (1,237,421)

Unrecognized actuarial gains/(loss) 260,686 322,236(1,036,035) (914,550)

35.19 Movement in Payable /(recoverable) to/ (from) gratuity fund

Opening liability (914,550) (796,873)

Charge for the year 35.20 (114,133) (109,954)


Closing liability/(asset) (1,036,035) (914,550)

35.20 Charge for gratuity fund

Current service cost 79 136Interest cost 51 81


Recognized actuarial (gains) / losses (15,269) (17,487)

Adjusted for outgoing employees - -

(114,133) (109,954)

For all employeesand for thosewhodidnot opt for thenewscheme introducedin1975for clerical/non-clerical staff and in1977

for officers, the Bank operatesan approved fundedgratuity scheme on whichmonthly contributionsare made by the Bank on

the basis of actuarial recommendation.

Thelatestactuarial valuation is carried out asat31December 2005. TheProjected Unit Credit Actuarial Cost method with thefollowing significant assumption was used for actuarial valuation purposes:



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36 DEFINED CONTRIBUTION PLAN

F ll th l f th B k h h t d ti t b fit h d i 1975 d 1977f l i l/ l i l t ff


37/44

37 REMUNERATION OF DIRECTORS AND EXECUTIVES

President Directors Executives

2005 2004 2005 2004 2005 2004


Fee - - 610 20 - -

Managerial remuneration 3,600 1,516 - - 2,340 574

Charge for defined benefit plan - 107 - - -

Contribution to defined contribution plan - 334 - - - 48

Rent and house maintenance 840 520 - - 960 230

Utilities - 207 - - 255 57

Medical - 221 - - 25 63

Conveyance 271 274 - - 361 102

Furnishing allowance 100 - - - -

Education expenses 47 - - - -

Leave fare assistance 406 - - - -

Club facility 99 - - - -

Others 300 145 113 195 -5,011 3,976 610 133 4,136 1,074

Number of persons 1 1 7 7 2 1

Upto three Over 3 months Over one year Over five

months to one year to five years years

( R u p e e s i n t h o u s a n dAss ets

Cash and balances with treasury banks 1,585,421 1,585,421 - - -

Balances with other banks 7,813,844 7,813,844 - - -

Investments 12,820,668 9,065,149 1,448,552 818,208 1,488,759

Advances 52,925,286 2,075 32,742,470 4,001,540 16,179,201

Other assets 8,010,698 8,256 4,955,954 3,050,688 -

Operating fixed assets 690,141 - - 261,415 428,726

Deferred tax assets 1,829 - - 1,222 607

83,847,887 18,474,745 39,146,976 8,133,073 18,097,293LiabilitiesBills payable 235,741 235,741 - - -

Borrowings from financial institutions 51,257,213 - 1,818,385 14,523,076 34,915,752

Deposits and other accounts 2,644,647 2,580,662 3,149 58,433 2,404

Sub-ordinated loans 3,204,323 - - - 3,204,323

Executivesmean employees, other than thechief executive and directors, whose basic salary exceeds fivehundred thousand Rupees in a

financial year. The Chief Executive / Executives are provided with Bank maintained cars.

For all theemployeesof theBank whohaveoptednewretirement benefits schemeannounced in 1975and 1977forclerical/non-clerical staff

and for executives/officers, respectively, the Bank operates an approved non-contributory provident fund through an independent trust.

Contributions to the fund aremade by the employees only at the rateof 8%of mean of pay scale per month. For employees who have not

optedforaforesaidnewretirement benefit scheme, theBankoperatesanapproved contributory provident fund wherecontributionsaremade

by the Bank and employees at the rate of 8.33% of basic salary per month.

38

2005

TotalMATURITIES OF ASSETS AND LIABILITIES

13,062,397


38/44


39/44

39 Related party transactions

Loan made to the General Provident Trust - -

40 YIELD/INTEREST RATE RISK

Effective Exposed to Yield/ Interest risk Not exposed

Yield/ Upto three Over 3 months Over one year Over five to Yield/

Interest months to one year to five years years Interest

rate Risk

On-balance sheet f inancia l instruments (% p.a)

Ass ets

Cash and balances with treasury banks 1,585,421 - - - - 1,585,421

Balances with other banks 8.24 7,813,844 - - - - 7,813,844

Investments 5.52 12,820,668 - - - 339,714 12,480,954

Advances 8-9 52,925,286 2,075 32,742,470 4,001,540 16,179,201 -

Other assets 8,010,698 - - - - 8,010,698

83,155,917 2,075 32,742,470 4,001,540 16,518,915 29,890,917

Liabilities

Bills payable 235,741 - - - - 235,741

Borrowings from financial institutions 6.09 51,257,213 - 1,818,385 14,523,076 34,915,752 -

Deposits and other accounts 1-2.5 2,644,647 2,580,662 3,149 58,433 - 2,404

Other liabilities 13,441,518 136,699 3,534,825 4,273,860 5,542,038 -

Deferred income 2,048 2,048 - - - -

67,581,167 2,719,409 5,356,359 18,855,369 40,457,790 238,145

15,574,750 (2,717,334) 27,386,111 (14,853,829) (23,938,875) 29,652,772

On-balance sheet gap

Off-balance sheet financial inst ruments

Forward Lendings - - - - - -

(Including call lending, repurchase agreement lending,commitments to extend credit, etc.)

Forward borrowings - - - - - -

(Including call borrowing, repurchase agreement borrowing,

commitments to extend credit, etc.)

Off-balance sheet gap - - - - - -

Total Yield/Interest Risk Sensitivity Gap 15,574,750 (2,717,334) 27,386,111 (14,853,829) (23,938,875) 29,652,772

Cumulative Yield/Interest Sensitivity Gap 15,574,750 12,857,416 40,243,527 25,389,698 1,450,823 31,103,595

41 CURRENCY RISK

Of f-Balanc e Net for eign

sheet items exposure

Pakistan rupee - - - -

UnitedStatesdollar

Yield/Interest rate sensitivity position for on-balance sheet instruments is based on the earlier of contractual re-pricing or maturity date.

2005


Total

2005


Ass ets Liab ili ti es

42 FAIR VALUE OF FINANCIAL INSTRUMENTS


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42 FAIR VALUE OF FINANCIAL INSTRUMENTS

42.1 On-balance sheet financial Instruments

Book value Fair value Book value Fair value

ASSETS

Cash and balances with treasury bank 1,585,421 1,585,421 1,593,898 1,593,898Balances with other banks 7,813,844 7,813,844 14,791,268 14,791,268

Investments 12,820,668 12,820,668 2,849,677 2,849,677

Advances - net 52,925,286 52,925,286 54,335,440 54,335,440

Other assets 8,010,698 8,010,698 9,381,766 9,381,766

83,155,917 83,155,917 82,952,049 82,952,049

LIABILITIES

Bills payable 235,741 235,741 197,434 197,434

Borrowings from financial institutions 51,257,213 51,257,213 51,257,213 51,257,213

Deposits and other accounts 2,644,647 2,644,647 3,122,206 3,122,206

Sub-ordinated loan 3,204,323 3,204,323 3,204,323 3,204,323

Other liabilities 13,441,518 13,441,518 13,048,358 13,048,358

70,783,442 70,783,442 70,829,534 70,829,534

42.2 Off-balance sheet financial Instruments

- - - -

- - - -

- - - -

- - - -

43 CONCENTRATION OF CREDIT AND DEPOSITS

43.1 Credit Risk Management

2005

43.2 Segment by class of business Contingencies and

Commitments

Rupees Percent Rupees Percent Rupees Percent

'000' '000' '000'

Agribusiness 51,083,952 97 - - - -

Individuals - - 2,644,647 100 11,307,720 95

Others (staff advances) 1,841,334 3 - - 572,000 5

52,925,286 100 2,644,647 100 11,879,720 10043.3 Segment by sector

2005

Rupees Percent Rupees Percent Rupees Percent

'000' '000' '000'

Contingencies and

Adv ances Depos its

Adv ances Depos its

2005 2004


Forward purchase of foreign exchange

Forward agreements for borrowing

Forward sale of foreign exchange

Forward agreements for lending

The fair value of investment is based on quoted market prices and rates at Reuters Pages (PKRV) with the exception of un quoted securities.

Outof total financial assets ofRupees 83,155.917million thefinancial assets whichwere subject to credit riskamounted toRupees29,652.772million. The Bank's

major credit risk is concentrated in the agriculture sector. To manage credit risk, the Bank applies credit limits to its customers and obtains adequate collaterals.

Credit risk is the risk that one party to a financial instrument will fail to discharge its obligation and cause the other party to incur financial loss. Credit risk in the Bank'

portfolio is monitored, reviewed and analyzed by its credit department and the exposure is controlled through continuous reviewand conservative provisions for

doubtful receivable, credit limits and prudent use of collaterals, as required by prudential regulation framed by the State Bank of Pakistan for banks.

commitments

44 GEOGRAPHICAL SEGMENT ANALYSIS


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44 GEOGRAPHICAL SEGMENT ANALYSIS

Pakistan (91,367) 83,847,887 13,062,397 11,879,720

Asia Pacific (including South Asia) - - - -

Others - - - -

(91,367) 83,847,887 13,062,397 11,879,720

45 DATE OF AUTHORIZATION FOR ISSUE

These financial statements were authorized for issue on 29th March 2006 by the Board of Directors of the Bank.

46 GENERA L

46.1 Figures have been rounded off to the nearest thousand rupees.

46.2

46.3

R.A. CHUGHTAI MUHAMMAD SALEEM KHAN RABIA SULTAN ARIF MANSUR

PRESIDENT DIRECTOR DIRECTOR DIRECTOR

Contingencies

and

commitments

2005


These financial statements havebeenpreparedin accordancewith therevisedformat of financial statements for banks issued by theState Bankof Pakistan vide

BSD Circular No. 36 dated 10 October 2001.

Captions asprescribedby BSDCircularNo. 36dated10October 2001issuedby theStateBankofPakistan in respectofwhichtherearenoamountshavenot been

reproduced in these financial statements except for the balance sheet and profit and loss account.

Profit before

taxation

Total assets

employed

Net assets

employed


42/44

( Rs. in Million )

NIC NumbersPrincipal Interest others Total Principal Interest others Total

1 SIRANI INDUSTIRES CAP.SHEHREZ LATIF (LATE) 155-47-033125 CH. ABDUL LATIF 1.092 0.493 0.000 1.585 0.513 0.008 0.000 0.521

MOUZA WEESLAN THE. & CH.MUHAMMAD ASHARF (LATE) 344-20-164554 CH. AHMED DIN

DISTT.BAHAWALPUR CH. MUHAMMAD AFZAL 344-35-164548 BAHAWAL BUX

MRS. SHAHNAZ SHAHREZ 155-53-033126 W/O CAP. SHEHREZ LATIF

SURAYYA BEGUM (LATE) 344-32-164555 D/O BAHAWAL BUX

2 NOOR AGRI TECH. QAMAR ELLAHI 286-52-170467 MUHAMMAD NAWAZ KHAN 3.713 6.707 0.138 10.558 0.000 4.389 0.000 4.389

VILL.TALWANDI MOOSA MEHBOOB ELLAHI 286-57-170468 MUHAMMAD NAWAZ KHAN

KHAN, THE. & DISTT. MANZOOR ELLAHI 286-47-170466 MUHAMMAD NAWAZ KHAN

GUJRANWAL

3 AGRI PROJECT AHMED SHAH SHAHZAD 517-28-118193 SHAHZAD SULTAN AZIZ 10.067 35.396 0.900 46.363 10.067 15.996 0.000 26.063

VILLAGE RENALA KHURD ZAHIR SHAH SHAHZAD 517-57-271607 AHMAD SHAH SHAHZADA

OKARA MRS. LAILA SHAH SHAHZADA 517-36-194508 W/O AHMED SHAH SHAHZADA

SYED SAJJAD HUSSAIN 270-22-046973 SYED ARSHAD HUSSAIN

SYED ASGHAR ABBAS ZAIDI 269-44-170728 S.M. ABBAS ZAIDI

4 AMSON DAIRIES MAJ. GEN. RETD. GHULAM UMER N.A. M.A.D. QURESHI 0.470 0.117 0.000 0.587 0.000 0.587 0.000 0.587

PLOT NO.447,DEHTHANO TARIQ UMER N.A. MAJ.G. R. GHULAM UMER

NEAR KHOKHARAPAR COLONY ASAD UMER N.A. MAJ.G. R. GHULAM UMER

KARACHI WASEEM UD DIN SIDDIQUI N.A. FAHIMUDDIN SIDDIQUI

AHMED MUSA PAREKH N.A. MUSSA PARKEH

ABDUL SATTAR PARKEH N.A. MUSSA PARKEH

SADIQ ABBAS (LATE) N.A. MAJ.G. R. GHULAM UMER

5 M.A FARM LAEEQ MEHMOOD MUSTAFA 502-53-253533 GHULAM MEHMOOD MUSTAFA 2.600 2.451 0.021 5.072 1.269 0.000 0.000 1.269

DEH KONKAR,SUPER HIGHWAY ATEEQ MUSTAFA 502-55-253532 GHULAM MEHMOOD MUSTAFAKARACHI EAST.

6 AGRO TECH ASSOSIATES CH. UMER ASADULLAH BAJW 271-28-072318 KHURSHID AHMED BAJW 4.352 4.217 0.128 8.697 4.352 0.863 0.018 5.233

VILL.MISSAN KALER THE. CH. ABDULLAH KHALID BAJW 312-36-023289 CH. KHURSHID AHMED BAJWA

FEROZWALA, DISTT IRFAN ASAD BAJWA 271-54-072320 UMER ASAD BAJWA

SHEIKHUPUR MRS. FARZANA IRFAN BAJWA 271-86-241311 W/O IRFAN ASAD BAJWA

MST. GHULAM FATIMA N.A. W/O CH. KHURSHID AHMED

MST. SAEED FATIMA N.A. W/O MUSHTAQ AHMED

MST. SHAFQAT BIBI N.A. W/O MUHAMMAD IJAZ

MST. PERVEEN FATIMA N.A. W/O IMTIAZ AHMED

Ann exure-1

Outstanding Liabilities at beginning of

the year Amount Written off

ZARAI TARAQIATI BANK LIMITEDSTATEMENT SHOWING WRITTEN OFF LOAN OR ANY OTHER FINANCIAL RELEIF OF FIVE HUNDRED THOUSAND

OR ABOVE PROVIDED DURING THE PERIOD ENDED DECEMBER 31 2005

Sr.

No.Father's/Husband Name

Name of Individual/parteners/

DirectorsName & Address of the borrower

42 of 44


43/44

NIC NumbersPrincipal Interest others Total Principal Interest others Total

Outstanding Liabilities at beginning of

the year Amount Written off Sr.

No.Father's/Husband Name

Name of Individual/parteners/

DirectorsName & Address of the borrower

7 AL QASIM AGRO SERVICES MUHAMMAD QASIM 295-89-383855 RIAZ AHMED 4.229 5.852 0.030 10.111 0.000 3.326 0.000 3.326KOT NAZIR THE.FEROZWALA

DISTT: SHEIKHUPURA

8 COMPACT PARTICLE BOARD CH. FAZAL MAHMOOD 270-61-312937 CH. SHAH MUHAMMAD 19.480 26.938 0.056 46.474 19.480 13.586 0.000 33.066

27TH-KM OFF LAHORE, CH. GHULAM MOHIUDDIN 270-59-312934 CH. SHAH MUHAMMAD

SHEIKHUPURA ROAD, NEAR CH. MUNAWAR HUSSAIN 270-66-312939 CH. SHAH MUHAMMAD

WAPDA TOWN CH. MURID HUSSAIN 270-64-312938 CH. SHAH MUHAMMAD

LAHORE MST. SURRIYA BEGUM 270-40-312935 W/O CH. SHAH MUHAMMAD

MST. ANWAR SULTANA 270-56-312936 D/O CH. SHAH MUHAMMAD

MST. NOOR SULTANA 270-90-312940 D/O CH. SHAH MUHAMMAD

CH. SHAH MUHAMMAD 270-34-155417 QADAR BAKHSH

9 DIAMOND BREEDERS CH. MUHAMMAD ISHAQ 275-43-122518 ABDUL AZIZ 4.414 9.174 0.345 13.933 4.414 5.850 0.000 10.264

MOUZA MANGA AUTTAR, ASMAT QADRI 272-35-145747 D/O ASGHAR ALI

38-KM, MULTAN ROAD, THE & M. ANWAR KHAN LODHI 213-35-093316 M. SULTAN KHAN QADRI

DISTT. LAHORE RIZWAN AHMED KHAN LODHI 213-63-093318 M. ANWAR KHAN LODGHI

10 KHILJEE INDUSTRIES MUHAMMAD RAFIQ KHILJEE 300-40-155567 MUHAMMAD AMIN 15.027 50.239 0.564 65.830 15.027 35.474 0.037 50.53847-KM MULTAN ROAD VILL. QASIR JAVED KHILJEE 300-50-995009 MUHAMMAD AMIN

NATHE JAGIR, THE.CHUNIAN FARUKH JAVAID KHILJEE 300-54-359978 MUHAMMAD AMIN

DISTT.KASUR. AHMED SARFRAZ KHILJEE 300-48-349702 MUHAMMAD AMIN

KHUSHNOOD MALIK 300-54-133899 AFZAL MALIK

MRS. NUSRAT PERVAIZ 235-51-273558 W/O PERVAIZ RASHID

MRS. ROOHI WASIM 267-86-429884 W/O MIAN WASIM

MUHAMMAD KAMRAN 286-56-046412 MUHAMMAD ASLAM

11 MONOO DAIRIES MIAN MUHAMMAD IRFAN MONNO 244-55-037446 MIAN MUHAMMAD RAFI MONNO 50.065 97.789 3.988 151.842 50.065 86.534 0.043 136.642

MOUZA MEGINEE BHAWANA MRS. RUKHSANA SAIGAL 270-55-111978 W/O MIAN MOHD.IRFAN MONNO. ,

12 NEW SHADAB AGRO SERVICES MUHAMMAD YASIN 295-62-203190 MAQBOOL HUSSAIN 1.700 1.908 0.192 3.800 0.000 1.018 0.000 1.018

VILL.NABIPUR SHEIKHUPURA

ROAD, DISTT.SHEIKHUPURA

13 QADRIA POULTRY FARM CH. MUHAMMAD ANWAR 272-42-270752 CH. GHULAM HAIDER 3.500 6.778 0.000 10.278 0.000 6.711 0.000 6.711

1.(HATCHERY)VILL.KHARAK, DR. MUHAMMAD SAEED AHMED 272-40-112605 CH. FATEH DIN

8TH KM, MULTAN ROAD LAHORE

2.(FARM)VILL,SUNDAR MULTAN

ROAD LAHORE

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final accounts 2005

Documents