RECORDS TOWARDS THE REPORTS FOR THE ENDED JUNE 30, 2003
3 year. CASH AND BANK BALANCES 3.1. RETURN ON THESE SAVINGS REPORTS IS RECEIVED AT RATES WHICH RANGE FROM 2 percent TO 5 per cent
4. SHORT-TERM LOANS 4.1. These express loans to clients for a time period of as much as a year on mark-up basis and so are guaranteed by means of lien on Certificates of Investment. The price of mark-up ranges from 14% to 21.5per cent per year.
4.2. These generally include cash market placements with different banking institutions along with other finance institutions. Return on these placements ranges from 5% to 13per cent.
5. OPPORTUNITIES through the present 12 months, the organization sold four federal federal government securities for Rs 182.288 million. The amortised price of these federal government securities ended up being Rs 159.394 million as well as the revenue regarding the disposal among these securities amounted to Rs 22.894 million.
The administration made a decision to offer these securities so that you can realise the gain arising on these securities beneath the reduced rate of interest environment.
As at June 30, 2003 the investment that is remaining of business in government securities amounted to Rs 52.634 million.
This investment has been reclassified as ‘held for trading’ and it is measured at reasonable value. An increase of Rs 12.946 million happens to be credited towards the loss and profit account in respect for this investment. Read more