Page 126 - CCL AR 2017 Final

Composition of plan assets is as follows:
2017 2016
(Rupees in ‘000)
Defence Savings Certificates / PIBs / T-bills 52,903 60,594
Special Savings Certificates 26,388 21,571
Mutual funds / Shares 787,231 541,320
Bank balances 21,140 12,322
887,662 635,807

The expected return on plan assets was based on the market expectations and depends upon the asset
portfolio of the Company, at the beginning of the period, for returns over the entire life of related
obligation. The return on plan assets was assumed to equal the discount rate. Actual return on plan assets
during the year amounts to Rs. 265.767 million (2016: Rs. 166.374 million).

13.2 Provident fund 2017 2016

(Rupees in ‘000)
Size of the trust 946,891 841,663
Cost of investments 820,208 708,418
Fair value of investments 937,811 833,299

(Percentage)
Percentage of investments made 99.04 99.01

Major categories of investment of provident fund are as follows:
2017 2016
% of investment as % of investment as
Investment size of the fund Investment size of the fund

(Rupees in ‘000) (Rupees in ‘000)
Bank balances 6,265 01 28,986 03
Government securities 524,897 56 483,352 58
Others 406,649 43 320,961 39
937,811 100 833,299 100

13.2.1 Investments out of provident fund have been made in accordance with the provisions of section 227 of
the Companies Ordinance, 1984 and the rules formulated for this purpose.

14. CASH AND BANK BALANCES
Note 2017 2016
(Rupees in ‘000)
Cash in hand
Foreign currency 67 14
Local currency 7,997 3,249
8,064 3,263
Bank balances

Islamic banks
Current accounts 2,649 1,487
Conventional banks
Current accounts 29,356 15,360
Saving accounts 14.1 5,745 2,892
35,101 18,252
45,814 23,002
14.1 These carry effective profit rate of 3.75% (2016: 4%) per annum.

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