Page 143 - CCL AR 2017 Final

The table below categorized financial instruments by the level in the fair value hierarchy into which the
fair value measurement is categorised:

2017
Level 1 Level 2 Level 3 Total
(Rupees in ‘000)
Listed shares 558,585 - - 558,585

2016

Level 1 Level 2 Level 3 Total
(Rupees in ‘000)

Listed shares 702,443 - - 702,443

During the year, there were no transfers between level 1 and level 2 fair value measurements, and no
transfers into and out of level 3 fair value measurement.

34. REMUNERATION OF CHIEF EXECUTIVE, DIRECTORS AND EXECUTIVES
2017 2016

Chief Chief
Executive Executives Executive Executives
(Rupees in ‘000)
Managerial remuneration 33,584 332,672 27,639 292,210
Housing allowance 1,452 105,236 1,452 89,623
Retirement benefits 3,676 34,313 3,290 29,066

Utilities 895 22,768 823 19,371
Leave fare assistance 1,838 20,395 1,645 19,207
41,445 515,384 34,849 449,477

Number 1 192 1 166

34.1 The Chief Executive and an executive have been provided with furnished accommodation. Further, the
Chief Executive and certain executives are also provided with the use of company maintained cars,
telephone facility, utilities and some other facilities, which are reimbursed at actual to the extent of their
entitlements.

34.2 The aggregate amount charged in the financial statements for meeting fee to 7 non – executive directors
amounted to Rs. 2.08 million (2016: 7 directors - Rs. 2.36 million).

34.3 No remuneration was paid to any of the directors other than the Chief Executive.

35. TRANSACTIONS WITH RELATED PARTIES

Related parties comprise of group companies, directors, executives and retirement funds. Transactions
with related parties, other than those disclosed elsewhere in the financial statements, are as follows:

2017 2016
Relationship Nature of transactions
(Rupees in ‘000)
Group companies Purchases 874,005 592,454
Sale of goods 11,029 8,518
Purchase of fixed asset 49,275 -
Dividend received 21,973 14,578
I.T support charges 13,518 11,814
Dividend paid 159,865 191,459
Other related parties Insurance premium 43,153 40,539

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