Page 257 - InterloopAnnualReport2020

NOTES TO THE CONSOLIDATED

FINANCIAL STATEMENTS

For the year ended June 30, 2020

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

30. ACCRUED MARK UP
Mark up on:
Long term financing 103,981 46,259
Short term borrowings 106,301 67,683
210,282 113,942

31. SHORT TERM BORROWINGS
From banking companies – secured
Under mark up arrangements
ERF – II 31.1 13,870,000 11,726,000
Running finance 549,968 129,742
FE–25 Export 484,861 –
14,904,829 11,855,742

31.1 These are secured against first Joint Pari Passu (JPP) charge of Rs. 38,368 million (2019: 27,352 million) over
all present and future current assets, First charge of Rs. 347 million (2019: Nil) and ranking charge of Rs.
1,334 million (2019: 2,632 million) over all present and future current assets, further current assets, further
secured by 2nd ranking charge of Rs. 6,000 million (2019: Nil) over all present and future fixed assets of the
group by all the lending banks. The total limits available to the group for short term borrowings from all the
banks are amounting to Rs. 29,621 million (2019: 25,250 million).

Mark up is charged as;
ERF – II SBP Rate + 0.25 to 1.00 % per annum (2019: SBP rate + 0.25 to 0.30% per annum)

Running finance 3 month KIBOR + 0.30 to 0.70 % per annum (2019: 3 month KIBOR + 0.30% per annum)

FE–25 Export 4% per annum as per mutually agreed treasury rate (2019: Nil)

2020 2019
Note (Rupees ‘000) (Rupees ‘000)
32. CURRENT PORTION OF NON CURRENT LIABILITIES
Long term financing 26 374,919 1,247,191
Lease Liabilities 27 42,102 –
Deferred income – Government grant 28.2 28,142 –
445,163 1,247,191

2020 2019

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