Page 245 - InterloopAnnualReport2020

NOTES TO THE CONSOLIDATED

FINANCIAL STATEMENTS

For the year ended June 30, 2020

2020 2019
Note (Rupees ‘000) (Rupees ‘000)

12. LONG TERM LOANS
Considered good – Secured
Loans to employees 12.1 96,233 43,112
Loan to director 12.2 23,465 30,150
119,698 73,262

12.1 Loans to employees
Opening balance 96,795 108,496
Add: disbursement made during the year 12.1.1 120,021 78,870
216,816 187,366
Less: amount received during the year (74,095) (90,571)
142,721 96,795
Less: receivable within twelve months (46,488) (53,683)
96,233 43,112

12.1.1 These loans are given to employees as per approved policy of the Company and are secured against
employees retirement benefits.
2020 2019
Note (Rupees ‘000) (Rupees ‘000)
12.2 Loan to director
Opening balance 33,250 –
Add: disbursement made during the year 12.2.1 – 33,250
33,250 33,250
Less: amount received during the year (3,696) –
29,554 33,250
Less: receivable within twelve months (6,090) (3,100)
23,465 30,150

12.2.1 This represents loan paid to the directors as per house building finance policy. Under the policy, home
ownership grant of Rs. 2.5 million and mortgage assistance of Rs. 30.75 million is disbursed during the year.
Tenure of both the home ownership grant and mortgage assistance is for a period of six years. Mortgage
assistance is repayable in 60 equal monthly installments along with mark up thereon.

2020 2019
(Rupees ‘000) (Rupees ‘000)

13. LONG TERM DEPOSITS
Considered good:
Security deposits - unsecured 43,987 33,120

14. STORES AND SPARES
Stores 318,202 235,586
Spares 752,738 654,818
1,070,940 890,404

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