Ipsas 2007-08 Final

GOVERNMENT OF BALOCHISTAN Statement of Cash Receipts and Payments For the Year Ended 30 June 2008
Note
2008 (Rupees in Million) Receipts/ Payments controlled by Government Payments by Third Party
2007 (Rupees in Million) Receipts/ Payments controlled by Government Payments by Third Party
PROVINCIAL CONSOLIDATED FUND RECEIPTS Taxation- Transfer from Federal Government Taxation- Provincial Government's Own Collection Non-Tax Revenue and Other Receipts General Administration Economic Services Development Surcharge and Royalties Interest on Loans and Advances Dividend and Profit Share Others 8 9
22,191 887
17,690 924
10 11 12 13 14 15
302 434 7,966 28 1,426 10,156 22,583
256 869 13,237 131 28 1,269 15,790 19,277
Grants and Aid Borrowings Foreign Debt Domestic Debt Capital Receipts Recovery of Loans and Advances Trading Activities Receipts of District Governments TOTAL RECEIPTS
16
17 18
799 799 81 3,424 2,210 62,331 ###
### ###
13,057 13,057 79 66,817
19 20 21
GOVERNMENT OF BALOCHISTAN Statement of Cash Receipts and Payments For the Year Ended 30 June 2008
2008 (Rupees in Million) Note Receipts/ Payments controlled by Government Payments by Third Party Receipts/ Payments controlled by Government Payments by Third Party 2007 (Rupees in Million)
PAYMENTS Operations Salaries and Employee Benefits Operating Expenses Transfers Grants, Subsidies and Write-off of Loans Other Transfer Payments Expenditure on Physical Assets Civil Works Debt and Interest Payments Principal Repayment of Debt Servicing of Debt Other Payments Loans and Advances Payments of District Governments TOTAL PAYMENTS NET RECEIPT/ (PAYMENT) OF PROVINCIAL CONSOLIDATED FUND NET RECEIPT OF PUBLIC ACCOUNT INCREASE / (DECREASE) IN CASH CASH AT THE BEGINNING OF THE YEAR INCREASE / (DECREASE) IN CASH CASH AT THE END OF THE YEAR 29 28 22
11,066 4,636 15,702 5,159 80 5,239 480 22,274 22,754
N/A* N/A* N/A
9,363 3,438 12,801 2,663 2,663 673 19,370 20,043 12,274 412 12,686 2 13,402 61,597 5,220 956 6,176 (16,344) 6,176 (10,168)
N/A N/A N/A
23
24 25
7,003 4,149 11,152 363 14,461 69,671 (7,340) 630 (6,710) (10,168) (6,710) (16,878)
26 27
The annexed notes 1 to 33 form an integral part of these financial statements. * Not Applicable
____________________________ Accountant General Balochistan
GOVERNMENT OF BALOCHISTAN Statement of Cash Flows For the Year Ended 30 June 2008
Note 2008 Rupees in Million 2007 Rupees in Million
CASH FLOWS FROM OPERATING ACTIVITIES Taxation- Transfers from Federal Government Taxation- Provincial Government's Own Collection Non-Tax Revenue and Other Receipts Grants and Aid Trading Activities Operations - Payments Servicing of Debt Transfers Receipts of District Governments Payments of District Governments - Revenue Expenditure Cash from Operating Activities CASH FLOWS FROM INVESTING ACTIVITIES Investment Recovery Recovery of Loans and Advances Expenditure on Physical Assets, Civil Works and Others Payments of Loans and Advances Payments of District Governments - Capital Expenditure Cash used in Investing Activities CASH FLOWS FROM FINANCING ACTIVITIES Receipt of Foreign Debt Receipt of Domestic Debt Principal Repayment of Debt Net Receipt of Public Account Cash from/(used in) Financing Activities NET INCREASE /(DECREASE) IN CASH AND CASH EQUIVALENTS CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR
8 9 16 20 25 21 27
22,191 887 10,156 22,583 3,424 ### (15,702) ### (4,149) ### (5,239) 2,210 ### (13,166) 23,195 ###
17,690 924 15,790 19,277 - ### (12,801) ### (412) ### (2,663) ### (13,402) 24,403
19 26 27
81 (22,754) (363) (1,295) (24,331) ###
79 (20,043) (2) (19,966)
17 18 24 28
799 ### (7,003) 630 (5,574) (6,710) (10,168)
13,057 (12,274) 956 1,739 6,176 (16,344) (10,168)
29
(16,878)
The annexed notes 1 to 33 form an integral part of these financial statements. ____________________________ Accountant General Balochistan
GOVERNMENT OF BALOCHISTAN Statement of Comparison of Budget and Actual Amounts by Function For the Year Ended 30 June 2008
Note RECEIPTS Revenue Taxation Non-Taxation Total revenue receipts Capital Domestic Debt Foreign Debt Recoveries of Loans and Advances Total capital receipts Receipts of District Governments TOTAL RECEIPTS PAYMENTS Revenue General Public Service Economic Affairs Public Order and Safety Affairs Education Affairs and Services Health Affairs and Services Housing and Community Amenities Recreation, Culture and Religion Social Protection Environment Protection Total revenue payments Capital General Public Service Economic Affairs Public Order and Safety Affairs Education Affairs and Services Health Affairs and Services Housing and Community Amenities Recreation, Culture and Religion Social Protection Environment Protection Total capital payments Payments of District Governments TOTAL PAYMENTS 31 34,988 11,443 4,847 2,080 1,347 276 241 74 11 55,307 1,806 8,201 73 1,973 574 253 167 113 315 13,475 15,853 84,635 35,794 11,779 5,148 2,080 1,347 440 245 74 11 56,918 2,434 12,477 2,601 1,973 574 5,569 167 1,142 2,532 29,469 15,853 102,240 32,209 6,171 5,473 1,674 1,134 479 227 65 12 47,444 366 10,762 2,549 403 222 5,129 84 489 2,223 22,227 14,461 84,132 19,446 11,724 4,056 1,068 1,252 88 240 78 37,952 15,751 6,152 36 1,961 420 147 85 92 321 24,965 14,955 77,872 20,289 11,815 4,489 1,075 1,252 104 242 84 747 40,097 15,751 13,390 2,566 1,961 420 3,035 110 850 3,485 41,568 14,955 96,620 14,594 5,595 4,542 1,241 937 104 264 135 746 28,158 ### 14,210 10,491 1,665 710 223 2,414 105 768 2,853 33,439 ### 13,402 74,999 ### 31 22,267 21,914 44,181 6,735 7,490 68 14,293 15,853 74,327 23,963 36,603 60,566 2,700 2,169 75 4,944 15,853 81,363 23,081 36,160 59,241 799 81 880 16,671 76,792 25,948 10,818 36,766 6,750 14,951 59 21,760 14,955 73,481 28,699 23,211 51,910 4,767 13,467 68 18,302 14,955 85,167 32,087 21,594 53,681 ### 1,102 11,955 79 13,136 ### 13,402 80,219 ### 2008 (Rupees in Million ) Budgeted Amounts Original Revised Actual Amounts 2007 (Rupees in Million ) 2006 (Rupees in million) Budgeted Amounts Budgeted Amounts Actual Amounts Original Revised Original Revised
The annexed notes 1 to 33 form an integral part of these financial statements. Accountant General Balochistan
GOVERNMENT OF BALOCHISTAN Statement of Comparison of Budget and Actual Expenditure by Department For the Year Ended 30 June 2008
2008 (Rupees in Million) DEPARTMENTS Note General Administration Provincial Excise Stamps Charges on account of Motor Vehicle Act Other Taxes and Duties Pension Administration of Justice Police Levies Jails and Convict Settlements Civil Defence Narcotics Control Civil Works Public Health Services Works Urban/B-WASA Education Archives Health Population Welfare Manpower and Labor Management Sports and Recreation Facilities Social Security and Social Welfare Culture Services Natural Calamities Auqaf Food Agriculture Land Revenue Animal Husbandry Forestry Fisheries Cooperation Irrigation Rural Development Industries Stationery and Printing Mineral Resources Subsidies Debt Servicing and other Obligations District Governments Transport Department Performance Grant Provincial Public Safety & PCCB Fiscal Equalization Grant (FEG) Public Debt Discharge Loans and Advances State Trading-Food Investment to Non-Financial Institutions
District Reconciliation
2007 (Rupees in Million) Budgeted Amounts Original 3,952 81 7 9 17 943 352 2,618 732 147 15 11 2,280 512 8,189 6 2,976 293 236 37 162 105 21 28 114 1,602 144 653 204 74 30 2,565 32 129 15 51 641 5,382 473 8,764 220 5,660 (221) 12,656 62,917 14,955 77,872 Revised 3,954 95 7 9 19 1,181 377 3,017 732 154 15 14 2,367 996 265 8,197 6 2,975 295 236 37 168 107 21 28 114 1,602 145 653 204 74 30 2,565 46 129 16 55 641 5,382 473 8,764 220 5,660 362 29,258 81,665 14,955 96,620 Actual Amounts 2,378 89 15 5 17 1,237 352 3,151 402 158 12 12 2,092 973 265 7,788 2 2,486 265 216 35 161 93 76 22 104 1,520 122 642 190 68 28 2,236 46 128 16 53 200 1,768 10,918 2 515 20,739 61,597 13,402 74,999
Budgeted Amounts Original 4,704 112 7 9 23 1,037 406 3,506 410 175 13 16 2,489 581 180 9,453 8 3,327 261 41 185 135 243 24 123 1,846 152 766 250 84 36 2,686 34 137 17 62 567 5,091 348 13 8,368 350 4,995 100 615 14,797 68,782 15,853
31
Revised 4,747 136 7 12 23 1,506 437 3,724 410 214 13 16 2,639 647 271 9,453 8 3,327 261 44 186 135 270 26 123 1,857 153 780 250 99 36 2,803 40 154 19 65 567 5,090 448 9 12 13 8,368 387 4,995 100 714 30,793 86,387
-
Actual Amounts 3,433 132 4 7 18 1,569 405 3,856 86 188 10 13 2,619 650 271 8,323 3 2,896 244 37 173 114 408 25 106 1,791 141 718 216 87 32 2,742 36 143 19 59 4,150 709 8 16 7,003 363 116 2,210 23,522 69,671 14,461 84,132 ###
Development
Payments of District Governments TOTAL
15,853 102,240
84,635
The annexed notes 1 to 33 form an integral part of these financial statements. Accountant General Balochistan
GOVERNMENT OF BALOCHISTAN Statement of Comparison of Budget and Actual Expenditure by Department For the Year Ended 30 June 2008
2008 (Rupees in Million) DEPARTMENTS Note Budgeted Amounts Original Revised Actual Amounts 2007 (Rupees in Million) Budgeted Amounts Original Revised Actual Amounts
GOVERNMENT OF BALOCHISTAN Notes to the Financial Statements For the Year Ended 30 June 2008
1. REPORTING ENTITY
Provincial Government of Balochistan the Government conducts its operations under the Rules of Business 2007. These rules were made pursuant to Article 139 of the Constitution of the Islamic Republic of Pakistan, 1973 "the Constitution" and envisages Provincial Government as comprising of Provincial departments and their attached departments. Financial procedures of the Constitution describes the Government as Provincial Consolidated Fund and Public Account of the Province for which Annual Budget Statement is authorized by the Provincial Assembly in the form of budgetary grants. These financial statements focus on reporting the budgetary activity of the government for the financial year.
Article 170 of the Constitution confers the powers of defining the form, principles and methods of the accounts of the province to the Auditor General of Pakistan, with the approval of the President. New Accounting Model was prescribed by the Auditor General of Pakistan in 2000 which describes Provincial Government as an accounting and reporting entity comprising of;
a)
Centralized Accounting Entities; for which the Accountant General has the primary responsibility for accounting and reporting.
b) Self Accounting Entities; there are no Self Accounting Entities for which the Principal Accounting Officer has the primary
responsibility for accounting and reporting.

c)
Exempt Entities; special purpose authorities/ organizations and all the government owned corporations/ companies which are required to prepare their financial statements under their specific statute or Companies Ordinance, 1984 are classified as exempt entities. Financial statements of these entities are not consolidated in the financial statements of the Provincial Government. New investments by the Provincial Government in such entities are capitalized and any grants to the entities are classified as an expense of the Provincial Government, if any, in the financial year to which they pertain. Return from these entities in the form of dividends or interest is classified as non-tax revenue.
Under Balochistan Local Government Ordinance, 2001, district governments were established. The district government consists of Zila Nazim and district administration. Auditor General of Pakistan under section 114 of the said Ordinance prescribed Local Government Accounts Manual for district governments. This Manual requires preparation of annual Finance and Appropriation Accounts by each district government. Presently district governments only prepare appropriation accounts. Local government Accounts Manual also requires that accounts of the district governments are consolidated in the financial statements of the province. In these financial statements, accounts of the following district governments have been consolidated.
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
District Awaran District Barkhan District Bolan District Chagai District Jaffarabad District Dera Bugti District Dera Murad Jamali District Gwadar District Jhal Magsi District Kalat District Kharan District Khuzdar District Killa Abdulla District Killa Saifullah District Sherani
16 District Kohlu 17 District Loralai 18 District Mastung 19 District Musa Khel 20 District Nushki 21 District Pishin 22 District Panjgoor 23 District Quetta 24 District Sibi 25 District Turbat 26 District Washak 27 District Zhob 28 District Ziarat 29 District Lasbella
These financial statements include all centralized and district governments.
2. BASIS OF CONSOLIDATION
The financial statements have been prepared by consolidating the accounts of all centralized and self accounting entities and 29 district Governments. Material intergovernmental transactions such as transfers from provincial governments which comprises, receipts of district governments have been eliminated in consolidation.
3. STATEMENT OF COMPLIANCE
These financial statements have been prepared in accordance with the New Accounting Model (NAM). In December 2000, Auditor General of Pakistan prescribed NAM with the approval of the President of Pakistan under Article 170 of the Constitution of Islamic Republic of Pakistan and the implementation of NAM is an ongoing process. However commitment, asset and liability accounting practices have not yet been implemented and memorandum registers for assets and commitments do not exist and accounting of liabilities is not done in accordance with NAM.
4. ACCOUNTING CONVENTION AND BASIS OF PREPARATION
These financial statements have been prepared under the cash basis of accounting which recognizes transactions and events only when cash is received or paid by the entity. Assets and liabilities in the disclosed notes are on a historical cost basis.
These financial statements have been prepared as per the requirements of NAM that supports international best practices. The statement of receipts and payments, statements of comparison of budget and actual amounts by function, statements of comparison of budget and actual expenditure by department and notes forming parts thereof have been prepared on the format of Cash Basis IPSAS - Financial Reporting under the Cash Basis of Accounting. The statement of cash flows as required by IPSAS 2 - Cash Flow Statements has also been presented, as encouraged by Cash Basis IPSAS.
The Financial Statements for the financial year 2007-2008 have been prepared and presented in order to make a fair presentation of all the relevant financial information without making any change in the fundamentals applied and all policies have been applied on a basis consistent with the previous year.
5. REPORTING AND BUDGET PERIOD
The reporting and budget period of these financial statements is the financial year 2007-2008 (from 1 July, 2007 to 30 June, 2008).
6. REPORTING CURRENCY
The reporting currency of these financial statements is Pakistani Rupees.
7. SIGNIFICANT ACCOUNTING POLICIES 7.1. Revenue recognition
Revenue is recognized on the date of receipt of money by the bank or clearance of cheque. Revenue is recognized on a gross basis and any related costs are recorded separately. Receipts representing recovery of any previous overpayment are adjusted against relevant expenditure, if it occurs in the same financial year.
7.2. Recognition of expenditure
Expenditure is recognized on the date when payment is made or cheque is issued. Financial year to which the payments pertain is determined by the date on which a cheque or payment advice is issued. Policies for recognition of expenditure are as follows;
a) Payments made through cheque
Expenditure is recognized on the date the cheque is issued.

b) Inter government transfers
Expenditure is recognized on the date the transfer is made by the transferor.

c)
Payments directly in bank accounts Direct payments into bank account, expenditure is recognized on the date the payment advice is issued to the bank.
d) Direct payments by State Bank of Pakistan (SBP)
Repayment of loans and other direct payments by the SBP, expenditure is recognized on the date State Bank of Pakistan advises the relevant accounting office.
For the Year Ended 30 June 2007

e)
Imprest payments Expenditure is recognized when the required claim vouchers are submitted and imprest account is reimbursed.
7.3. Foreign currency
Transactions in foreign currencies are recorded in the books at the rates of exchange prevailing on the date of transaction. Exchange differences arising on settlement of these transactions are recognized in the Statement of Receipts and Payments, but are not disclosed separately.
7.4. Employee benefits
The government has following plans for its employees:

a)
General Provident Fund The contributions made by the government and interest on provident fund balance are recorded as expenditure in that financial year to which they relate with a credit to liability. The balance outstanding is presented as liability.
b) Pension
The entitlement of government employees to a stream of payments after they retire from service. No liability for pension is recognized in the financial statements and pension payments made during the year are recorded as expenditure.
c)
Encashment of leave This represents liability arising from entitlements to the various forms of leave earned by government employees. No provision is made and the expenditure is recognized on the basis of payments made during the year.
7.5. Investments
All investments acquired by the government are initially measured at cost being the fair value of consideration given plus transaction costs that are directly attributable to their acquisition. Subsequent to initial recognition, investments are carried at historical cost. Any dividends received against investments are recognized when received in the provincial consolidated fund.
7.6. Cash and cash equivalents
For the purpose of cash flow statement, cash and cash equivalents comprise cash with State Bank of Pakistan.
7.7. Liability
Liabilities are future sacrifices of economic benefits that the government is presently obliged to make as a result of the past transaction. All liabilities are recorded at historical cash value.
7.8. Public Debt
Public Debt comprise cash inflows from banks, similar lending agencies, commercial institutions and amounts owing in respect of non-cash assistance provided by third parties and foreign borrowings. All debts raised are classified as either floating or permanent debts depending on the nature of the transaction.
7.9. Assets
Assets are future economic benefits controlled by the government as a result of past transactions or other past events. Assets are recorded at cost and currently no depreciation is charged.
7.10. Loans and advances
Loans and advances include loans and advances due from autonomous bodies, financial and non-financial institutions, government servants for house building and purchase of conveyance and other loans. Loans to government servants are interest bearing and interest is calculated in accordance with the General Financial Rules.
7.11. Payments by third parties
The Provincial Government also benefits from goods and services purchased on its behalf as a result of cash payments made by third parties during the period by way of loans and contributions in the shape of grants and aids. The payments made by the
third parties do not constitute cash receipts or payments by the Provincial Government as defined in the Cash Basis IPSAS - Financial Reporting under the Cash Basis of Accounting, but do benefit the Provincial Government as the Provincial Government does not receive cash (including cash equivalents) directly from, or gain control of the bank accounts or similar facility established for its benefit by, the third party. Payments by third parties, if any, are disclosed in the payments by third parties column in the Statement of Cash Receipts and Payments and notes to the financial statements.
2008 Rupees in Million 8 TAXATION - TRANSFERS FROM FEDERAL GOVERNMENT Direct Taxes Income Tax Wealth Tax Capital Value Tax Indirect Taxes Sales Tax Custom Duty Federal Excise 2007 Rupees in Million
7,281 2 134 7,417 7,871 2,976 3,927

14,774
6,301 6,301 6,298 2,671 2,420

11,389
22,191 9 TAXATION - PROVINCIAL GOVERNMENT'S OWN COLLECTION Direct Taxes Income Tax- Agriculture Wealth Tax Property Tax Land Revenue Tax on Profession, Trade and Callings Capital Value Tax Indirect Taxes Receipts Under Motor Vehicles Act Stamp Duties Provincial Excise Others
17,690
10 ### 69 40 1 120 329 158 246 34 767 887
2 59 36 1 121 219 345 150 204 6 705 924
10
GENERAL ADMINISTRATION RECEIPTS Fiscal Administration Community Services Social Services Economic Regulations Law and Order 11 110 48 3 130 302 9 86 50 3 108 256
Note 11 ECONOMIC SERVICES RECEIPTS Receipts under Oilfields and Mineral Development Act Cooperation, Irrigation, Embankment-Drainage Food and Agriculture Fisheries and Animal Husbandry Receipt under Oilfields and Mineral Development Forest Printing and industries Others 2008 Rupees in Million 2007 Rupees in Million
137 184 45 45 18 5 434
161 68 381 83 176 869
12
DEVELOPMENT SURCHARGE AND ROYALTIES Development Surcharge on Gas Royalty on Natural Gas 12.1 12.2 5,286 2,680 7,966 10,995 2,242 13,237
12.1 The development surcharge on natural gas is levied under the Natural Gas Development Surcharge Ordinance, 1967. In pursuance of the said Ordinance, the federal government has to fix the sale price for the consumers and prescribe a price for the gas companies. The difference between the two prices is the margin available to the government as development surcharge. The surcharge on natural gas is transferred to the provinces according to the production of gas in a province.
12.2 Royalty on crude oil and natural gas is received under Pakistan Petroleum Production Rules, 1949 at the rate of 12.5% on the well head value of production. Federal Government collects royality on crude oil and natural gas which is transferred to the provinces on well head production basis after deduction of 2% collection charges.
Note 13 INTEREST ON LOANS AND ADVANCES Interest on Domestic Loan 13.1
2008 Rupees in Million
131 131
13.1 Interest On Domestic Loan Financial Institutions 131 131
Note 14 DIVIDEND AND PROFIT SHARE Dividends Receipts 14.1 28 28 14.1 Dividends Receipts Non-Financial Institutions 28 28 28 28 28 28 2008 Rupees in Million 2007 Rupees in Million
15
OTHER RECEIPTS Sale of Land Miscellaneous Receipts Other 1,087 339 1,426 944 88 237 1,269
16
GRANTS AND AID Development Grants Non Development Grants 10,247 12,336 22,583 10,101 9,176 19,277
17
FOREIGN DEBT - RECEIPTS Federal Government 799 799 -
18
DOMESTIC DEBT - RECEIPTS Permanent Debt Floating Debt 18.1 18.2 11,955 1,102 13,057
18.1 This represents borrowings from Federal Government. Repayment period and interest rate for these borrowings is determined in accordance with terms and conditions of each loan. 18.2 Floating debt represents the borrowings of temporary nature such as Ways and Means Advances or Cash Credit Accommodation from the State Bank of Pakistan. These are repayable within twelve months.
Note 19 RECOVERY OF LOANS AND ADVANCES Non-Financial Institutions Government Servants 81 81 20 TRADING ACTIVITIES Sale of Wheat 3,424 3,424 21 RECEIPTS OF DISTRICT GOVERNMENTS Grants from Provincial Government Less: Grants from Provincial Government 21.1 16,671 (14,461) 2,210 13,402 (13,402) 23 56 79 2008 Rupees in Million 2007 Rupees in Million
21.1 Grants received from provincial government have been eliminated against transfers to District Governments, while consolidating these accounts, in order to avoid the duplicate effect of receipts and payments.
Note 2008 Rupees in Million 2007 Rupees in Million
22
SALARIES AND EMPLOYEE BENEFITS Pay of Officers Pay of Other Staff Allowances Retirement Benefits 1,360 3,469 4,668 1,569 11,066 1,032 2,923 4,171 1,237 9,363
23
GRANTS, SUBSIDIES AND WRITE-OFF OF LOANS Grants, Subsidies and Write-off of Loans Less: Transfers to District Governments 21.1 19,620 (14,461) 5,159 16,065 (13,402) 2,663
24
PRINCIPAL REPAYMENT OF DEBT Domestic Debt 24.1 7,003 7,003 12,274 12,274
24.1 Domestic Debt Permanent Debt Floating Debt 5,677 1,326 7,003 25 SERVICING OF DEBT Domestic Debt 4,149 4,149 26 LOANS AND ADVANCES Government Employees 26.1 363 363 2 2 412 412 10,805 1,469 12,274
2008 Rupees in Million 26.1 Government Employees House Building Advance 363 363 2 2 2007 Rupees in Million
Advances to government employees are provided according to Rule 252, 253, 256, 262 and 263 of the General Financial Rules as per their entitlements. 2008 Rupees in Million 2007 Rupees in Million
Note 27 PAYMENTS OF DISTRICT GOVERNMENTS Revenue Expenditure Capital Expenditure 27.1 27.2
13,166 1,295 14,461
11,982 1,420 13,402
27.1 Revenue Expenditure Education Affairs and Services Health Affairs and Services Economic Affairs General Public Service Housing and Community Amenities Social Protection Recreation, Culture and Religion 6,652 1,762 2,927 1,223 478 20 104 13,166 6,551 1,548 2,607 739 434 18 85 11,982
27.2 Capital Expenditure Education Affairs and Services Health Affairs and Services Economic Affairs General Public Service Housing and Community Amenities Social Protection Environment Protection 683 196 413 3 1,295 4 5 843 36 5 527 1,420
2008 Rupees in Million 28 NET RECEIPT OF PUBLIC ACCOUNTS Receipts Trust and other Public Accounts Special Deposits State Provident Fund Payments Trust and other Public Accounts Special Deposits State Provident Fund (88,380) (8,326) (480) (97,186) 630 (82,491) (9,600) (1,034) (93,125) 956 87,772 8,876 1,168 97,816 83,547 9,438 1,096 94,081 2007 Rupees in Million
28.1 The public account consists of those moneys received by the Government for which it has a fiduciary duty, but not at liberty to appropriate for the general services of Government, unless provided under an Act of Provincial Assembly or rules made by the Governor. The balances in the public account are carried forward at year end, to be used for the specific purpose for which they are established. 2008 Rupees in Million 29 CASH AND BANK Provincial Government's Balance District Governments' Balance (23,272) 6,394 (16,878) 30 ASSETS AND LIABILITIES Assets Long Term Assets Loans and Advances Current Assets Cash and Bank 144,209 484 79 (16,878) 127,894 120,686 201 75 (10,168) 110,794 (14,353) 4,185 (10,168) 2007 Rupees in Million
Liabilities and equity Public Debt Special Deposits and Trust Accounts Deferred Liabilities Residual Equity 10,013 8,296 4,641 104,944 127,894 20,364 8,506 3,892 78,032 110,794
31 COMPARISON OF BUDGET AND ACTUAL AMOUNTS The approved budget is developed on the same accounting basis (cash basis), functional classification basis and for the same period as for the financial statements. It encompasses the same entities as the financial statements as identified in note 1 above. The Statements of Comparison of Budgeted and Actual Amounts by Function and Actual Expenditure by Department are presented on a gross basis. Grants received by district governments from provincial government have been eliminated against transfers to district governments in Statement of Cash Receipts and Payments as explained in note 2 and 21.1, for which a reconciliation is presented below.
2008 Note Receipts Actual receipts in Statement of Comparison of Budget and Actual Amounts by Function Less : Grants from Provincial Government Actual receipts in Statement of Cash Receipts and Payments Payments Actual payments in Statements of Comparison of Budget and Actual Amounts by Function and Actual Expenditure by Department Less : Transfers to District Governments Actual payments in Statement of Cash Receipts and Payments 32 AUTHORIZATION FOR ISSUE 76,792 (14,461) 62,331 Rupees in Million
21
80,219 (13,402) 66,817
23
84,132 (14,461) 69,671
74,999 (13,402) 61,597
Under section 7 of the Auditor General's (Functions, Powers and Terms and Conditions of Service) Ordinance, 2001, read with Article 171 of the Constitution, the Auditor-General submits the certified financial statements of the Government of Balochistan together with the audit reports on these financial statements to the Governor of Balochistan who shall cause them to be laid before the Provincial Assembly. These financial statements have been authorized for issue on _______________________.
33
GENERAL
33.1 Level of Precision Figures in these consolidated financial statements have been rounded off to the nearest million of rupees, unless otherwise stated. 33.2 Corresponding Figures Corresponding figures, wherever necessary, have been rearranged and reclassified for the purposes of comparison.
Accountant General Balochistan
FEDERAL GOVERNMENT Notes to the Consolidated Financial Statement For the Year Ended 30 June 2007
8. TAXATION
8.1. The Federal levy on income (Income Tax), with effect from July 01, 2002, is governed by the Income Tax Ordinance, 2001 and Income Tax Rules, 2002. It is an annual charge on the taxable income for a tax year, if it exceeds the maximum amount that is not chargeable to tax. Tax rates and method of calculating taxable income varies with fiscal status of the tax payer. The broad categories of taxpayers include companies, non salaried individuals, association of persons, Hindu undivided families and salaried individuals. 8.2. Sales Tax is a tax on consumption, levied on manufacturers and retailers as well as on the importers, wholesalers, distributors, dealers and specified services @ 15%. However, all the exports and other goods/ items mentioned in the fifth schedule to Sales Tax Act, 1990 or in a notification issued under section 4 of the Act are chargeable to tax @ 0%. 8.3. Goods imported into Pakistan are liable to custom duties at the rates specified in the first schedule to the Customs Act, 1969 (IV of 1969). 8.4. The federal excise duty is leviable under the Federal Excise Act, 2005 on execisable goods produced or manufactured in Pakistan or imported into Pakistan or such goods as the Federal Government may, by notification in the official Gazette, specify, as are produced or manufactured in the non-tariff areas and are brought to the tariff areas for sale or consumption therein; and services, provided or rendered in Pakistan. 8.5. Workers Welfare Tax is leviable under Workers Welfare Act @ 2% of the income where the taxpayer owns an industrial establishment and his income is Rs. 500,000 or more.
Income Tax Sales Tax Customs
8.6. Taxation Others
Direct Taxes Tax on Profession, Trade and Callings Capital Value Tax Land Revenue Other Direct Taxes Indirect Taxes Receipts Under Motor Vehicles Act Stamp Duties Provincial Excise Others Indirect Taxes
3,698 4,214 182 3,040 11,134 695 410 97 1,204 2,406 13,540
3,680 3,425 369 240 7,714 618 451 74 1,415 2,558 10,272
Federal Excise
Page 19 of 35
Workers Welfare Fund
8.7. Provincial Share
8.7.1. In pursuance of the NFC Award, 1996 effective from 1 July, 1997, the divisible pool is arrived at by deducting 5% collection charges by the Federal Government. The federal share in the net proceeds of the divisible pool is 62.5% and the remainder to the four provinces. Province wise share in the divisible pool is worked out on the basis of the respective population in the percentages fixed in the Distribution of Revenues and Grant-in-Aid (Amendment) Order, 2002. 2007 Rupees in Million 9. GENERAL ADMINISTRATION RECEIPTS Fiscal Administration Community Services Social Services Economic Regulations Law and Order Organs of State Statistics 2006 Rupees in Million
10. ECONOMIC SERVICES RECEIPTS
Receipts under Oilfields and Mineral Development Act Special Communication Organization Receipts Food and Agriculture Fisheries and Animal Husbandry Forest and Irrigation
11. DEFENCE SERVICES RECEIPTS
Administrative Services General Headquarters Military Engineering Services Air Force Pakistan Navy Procurement, Research & Product Development Receipts on certain measures of Inter-Services Nature Defence Services Others
Income tax Sales tax Custom duty Federal excise Others Total
Page 20 of 35
291 802 710 333 531 73 10 2,750
260 632 536 356 266 75 6 2,131
875 1,391 169 76 14 2,525
2,191 1,264 194 173 9 3,831
75,452 2 848 873 342 296 261 1,708
64,150 82 787 513 478 188 586 989
79,782 67,773 11.1. Defence services receipts mainly represent receipts realized on account of service charges in accordance with the protocol agreements, dues from civil agencies, sale & auction of obsolete stores, charges realized on account of use of army aviation facilities and leave salary etc. of armed forces personnel on deputation abroad. 2007 Rupees in Million 12. DEVELOPMENT SURCHARGE AND ROYALTIES Petroleum Development Levy Development Surcharge on Gas Royalty on Crude Oil Royalty on Natural Gas Less: Provincial Share 12.1 12.2 12.3 12.3 12.4 30,809 35,126 7,788 19,340 93,063 (64,917) 28,146 24,596 30,602 8,448 10,739 74,385 (46,628) 27,757 2006 Rupees in Million
12.1. Petroleum development levy was imposed through Finance Ordinance, 2001 at per liter price of various selected products notified by the Government. 12.2. The development surcharge on natural gas is levied under the Natural Gas Development Surcharge Ordinance, 1967. In pursuance of the said ordinance, the federal government has to fix the sale price for the consumers and prescribe a price for the gas companies. The difference between the two prices is the margin available to the government as development surcharge. The surcharge on natural gas is transferred to the provinces according to the production of gas in a province.
12.3. Royalty on crude oil an natural gas is received under Pakistan Petroleum Production Rules, 1949 at the rate of 12.5% on the well head value of production. 12.4. Provincial Share
Development surcharge on gas, royalty on crude oil and royalty on natural gas are transferred to the provinces on the basis of well head production after deduction of 2% collection charges.
Page 21 of 35
2007 Rupees in Million 13. EXTRAORDINARY RECEIPTS Sale of Other Government Assets Sale of Land Fees, Fines and Forfeitures Sale of Machinery and Equipments Others 11 22 1 15,506 15,540
1 9 11 13,768 13,789
13.1. Extraordinary receipts are special and non recurring receipts unconnected with expenditure previously debited to a capital function. These include receipts of bonus 14. INTEREST ON LOANS AND ADVANCES Interest on Domestic Loan Interest on Loans and Advances to Govt. Servants Loans and Advances - Others 14.1 35,755 50 526 36,331 14.1. Interest On Domestic Loan Provinces Azad Kashmir Govt. District Governments Financial Institutions Non-Financial Institutions 18,052 250 176 4,561 12,716 35,755 21,622 3,810 100 4,104 4,751 34,387 34,387 46 1,884 36,317
14.1.1 Interest on loans and advances granted by the federal government is chargeable in accordance with the terms and conditions of each loan. Interest rate is determined by the finance division in accordance with the actual borrowing cost of the federal government and is charged using simple interest rate on an yearly basis. 15. DIVIDEND AND PROFIT SHARE Dividends Receipts Profit share 15.1 15.2 59,970 75,049 135,019 64,752 24,893 89,645
Page 22 of 35
2007 Rupees in Million 15.1. Dividends Receipts Financial Institution National Insurance Corporation State Life Insurance Corporation Pakistan Re-Insurance Corporation Others Non-Financial Institution Oil and Gas Development Corporation Pakistan Telecommunication Corporation Pakistan Petroleum Limited Govt. Holding (Pvt) Ltd. Pak Arab Refinery Pakistan State Oil Company Limited Sui Northern Gas Pipe Lines Limited National Fertilizer Corporation Sui Southern Gas Company Ltd. Others 34,662 6,342 5,377 4,500 3,600 1,269 539 529 527 1,907 59,252 59,970 15.2. Profit share State Bank of Pakistan Pakistan Telecommunication Authority 15.2.1 69,270 5,779 75,049 500 134 34 50 718
500 238 92 33 863 39,853 9,513 3,497 1,500 3,600 1,138 539 3,160 608 481 63,889 64,752
13,934 10,959 24,893
15.2.1 The share of profits from the State Bank of Pakistan represents distributable profits to the federal government against the appropriation of net profits of the bank. 16. DEVELOPMENT GRANTS Foreign Governments Federal Government 20,474 761 21,235 7,711 10,971 18,682
Page 23 of 35
2007 Rupees in Million 17. FOREIGN DEBT - RECEIPTS Loans from International Development Association Asian Development Bank Pakistan Sovereign Bond Islamic Development Bank (ST) (IDB) Chinese Loan Loans from International Bank for Re-construction and Development French Credit International Fund for Agricultural Development (IFAD) Dollar Bond N.C.C. German Export Credit Yen Credit from Japan Kuwait E. I. Bank O.P.E.C. Special Fund Loan U.S.A. (Project/Commodity) Saudi Arabian Loan Sweden 60,494 53,586 45,449 16,669 11,377 9,099 3,527 1,889 1,321 1,228 1,141 217 45 5 206,047 18. DOMESTIC PERMANENT DEBT - RECEIPTS National Prize Bonds Pakistan Investment Bonds Special U.S. Dollar Bonds Federal Investment Bonds Foreign Currency Bearer Certificate Govt. Bonds issue to HBL 95,531 86,021 15 4 2 181,573 19. DOMESTIC FLOATING DEBT- NET Floating Debt- Receipts 6 Months Market Treasury Bills purchased by SBP 6 Months Market Treasury Bills (Auction) Treasury Bills for Ways and Means Floating Debt- Payments 6 Months Market Treasury Bills purchased by SBP 6 Months Market Treasury Bills (Auction) Treasury Bills for Ways and Means 1,435,688 606,890 20 1,379,688 830,294 20 2,210,002
65,992 27,539 47,869 11,950 3,426 8,248 3,244 309 347 8,383 609 355 411 1,309 371 106 180,468
88,856 399 11,237 9,805 110,297
1,337,688 696,554 51 2,034,293 1,155,088 716,993 51
Page 24 of 35
Promissory Note Others 132 2,042,730 167,272 2007 Rupees in Million 20. PRIVATIZATION PROCEEDS OGDCL through GDR & SPO Pak American Fertilizers Limited Pakistan Telecommunications Company Limited Javedan Cement Pakistan Oil Fields Lyallpur Chemicals & Fertilizers Karachi Electric Supplies Company (KESC) National Refinery Limited Pak Arab Fertilizers Limited Mustehkam Cement United Bank Limited - IPO Kot Adu Power Company Limited (KAPCO) - IPO Pakistan Petroleum Limited (PPL) - IPO Fellati's Hotel Lahore Bolan Textile Mills Kohat Cement Ittehad Chemicals United Industries Limited NC Dandot International Advertising Limited Pakistan International Airlines (PIA) - IPO 48,745 9,000 8,046 3,900 1,500 273 70,935 15,451 3,766 3,487 1,493 1,058 394 217 130 128 41 26 8 8 5 99 97,246 208 113 1,872,453 161,840 2006 Rupees in Million
71,464
20.1. Net sale proceeds remitted by Privatization Commission after meeting privatization related expenditure are transferred to Federal Government or the entities entitled to such proceeds. According to the Privatization Commission Ordinance the net privatization proceeds received by the Federal Government are utilized in the following manner:. (a) (b) 90% for retirement of Federal Government Debt. 10% for poverty alleviation programs
The disbursements are made in accordance with the provisions of the Ordinance and Privatization Commission (Delegation of Powers) Regulation, 2002 which delegates administrative and financial powers, within the ambit of the Ordinance, to the Chairman and the Secretary PC for running the day to day business of the Commission. 21. RECOVERY OF LOANS AND ADVANCES Provinces Non-Financial Institution 31,997 19,856 20,398 9,840
Page 25 of 35
Others Financial Institution Government Servants District Governments/TMAs 3,755 3,447 975 198 60,228 2007 Rupees in Million 22. TRADING ACTIVITIES Pakistan Post Office - Receipts Sale of wheat Sale of fertilizer 5,661 876 3 6,540 23. SALARIES AND EMPLOYEE BENEFITS Pay of Officers Pay of Other Staff Regular Allowances Other Regular Allowances Retirement Benefits 7,123 19,388 22,086 6,456 47,481 102,534 24. PRINCIPAL REPAYMENT OF DEBT Foreign Debt Asian Development Bank International Bank for Re-construction and Development Islamic Development Bank (ST) (IDB) EURO Bonds International Development Association Korea Yen Credit from Japan Turkey French Credit Dollar Bond N.C.C. Italian Credit Others Domestic Debt - Permanent National Prize Bonds Pakistan Investment Bonds Special U.S. Dollar Bonds 85,457 39,805 5,502 85,313 15,106 10,894 15,850 14,503 11,742 7,728 3,378 3,006 1,920 1,321 1,300 8,923 69,671 13,349 15,455 16,242 9,307 7,165 5,776 3,361 1,550 1,415 1,273 39 6,462 81,394 5,088 17,163 17,843 4,307 41,631 86,032 4,960 102 5,062 1,207 2,894 914 552 35,805 2006 Rupees in Million
Page 26 of 35
Federal Investment Bonds Others 3,518 5,491 139,773 209,444 2007 Rupees in Million 25. SERVICING OF DEBT Foreign Debt Domestic Debt 49,455 326,892 376,347 26. LOANS AND ADVANCES Revenue Expenditure Capital Expenditure Non-Financial Institutions Provincial Governments District Governments Financial Institutions Government Employees Others 2,610 23,955 55,338 23,211 1,707 15,268 119,479 122,089 26.1. Government Employees House Building Advance Motor Cycle Advance Motor Car Advance Cycle Advance 1,423 150 127 7 1,707 1,055 128 109 7 1,299 2,710 23,468 44,245 20,056 357 1,299 16,419 105,844 108,554 42,060 202,548 244,608 7,974 7,440 126,727 208,121 2006 Rupees in Million
26.1
26.2. Advances to government employees are provided according to Rule 252, 253, 256, 262 and 263 of the General Financial Rules as per their entitlements. 27. INVESTMENTS - PAYMENTS Pakistan Railways Pakistan Iran Investment Co. Karachi Electric Supply Corporation E.C.O. Trade and Development Bank P.I.A. Corporation Islamic Development Bank Pak. Burnei Investment Co. Ltd. Pak. Oman Investment Company Pakistan Television Corporation
Page 27 of 35
6,515 2,000 1,971 1,787 1,405 780 759 750 687
5,339 385 1,530 462
Utility Stores Corporation of Pakistan National Book Foundation G.O.P in (WAPDA) Pakistan Textile City Ltd. Karachi Peoples Steel Mills 113 16 16,783 2007 Rupees in Million 28. NET RECEIPT OF PUBLIC ACCOUNT Receipts Other Public Accounts National Saving Schemes Deposits State Provident Fund Payments Other Public Accounts National Saving Schemes Deposits State Provident Fund (2,471,313) (377,816) (346,003) (8,812) (3,203,944) 46,311 (2,647,132) (367,103) (295,604) (8,378) (3,318,217) 35,607 2,483,101 433,789 319,045 14,320 3,250,255 2,666,590 371,057 304,337 11,840 3,353,824 111 6,396 250 35 14,508 2006 Rupees in Million
28.1. The public account consists of those moneys received by the Government for which it has a fiduciary duty, but not at liberty to appropriate for the general services of Government, unless provided under an Act of Parliament or Presidential order. The balances in the public account are carried forward at year end, to be used for the specific purpose for which they are established.
29. CASH AND BANK Cash with State Bank of Pakistan (SBP) Cash Balance with Treasuries 29,291 (239) 29,052 30. ASSETS AND LIABILITIES Assets Long Term Assets Investments Loans and Advances Current Assets Cash and Bank Liabilities Public Debt
Page 28 of 35
(9,986) (242) (10,228)
30.1 30.2 30.3 30.4 30
188,846 447,835 892,042 33,476 29,052 1,591,251 2,555,409
166,844 431,055 808,370 34,570 (10,228) 1,430,611 2,209,960
30.5
Special Deposits and Trust Accounts Deferred Liabilities Capital Receipts 30.6 30.7 30.8 1,015,845 67,243 262,539 3,901,036 (2,309,785) 977,682 60,183 191,075 3,438,900 (2,008,289)
Residual Equity
30.9
2007 Rupees in Million 30.1. Long Term Assets R & D General Public services Construction and Transport Community Development Irrigation Dams and Canals Transfers State Trading and Agriculture Petroleum and Natural Gas Communication General Economic Affairs Others 63,204 46,583 18,494 16,863 16,640 7,538 5,192 2,624 2,255 9,453 188,846 30.2. Investments Financial Institution Non-Financial Institution 30.2.1 30.2.2 15,299 432,536 447,835 30.2.1. Investments in Financial Institution International Monetary Fund Subscription Islamic Development Bank Pakistan Iran Investment Co. Share Capital of E.C.O. Trade and Development Bank Pak. Burnei Investment Co. Ltd. State Life Insurance Corporation Nationalized Banks Asian Development Bank State Bank of Pakistan - Reserve Fund Contribution International Bank for Reconstruction & Development. Development Banks Others 3,646 2,682 2,000 1,787 759 650 632 617 460 348 1,718
48,552 43,521 18,494 16,829 16,340 7,059 5,192 2,624 2,075 6,158 166,844
9,973 421,082 431,055
3,646 1,902 650 632 617 460 348 341 1,377
Page 29 of 35
15,299 9,973
2007 Rupees in Million 30.2.2. Investments in Non-Financial Institution Karachi Electric Supply Corporation G.O.P in (WAPDA) Investment in WAPDA (Power Wing) Pakistan Railways Investment in T&T Fund (P.T.C.) Pakistan Steel Mills Corporation P.I.A. Corporation Oil and Gas Development Corporation Karachi Shipyard and Engineering Works Union Taxas Oil Company Development of Tribal Areas Resources Development Corporation Peoples Steel Mills Govt. Holding (Pvt) Ltd. Union Taxas of Pakistan- U.T.P. Badin-I Pakistan Television Corporation Saindak Metal (Pvt) Limited Pakistan Industrial Development Corporation Occidental of Pakistan Inc. Pak. Oman Investment Company Others 95,047 75,859 59,517 53,629 26,867 21,525 17,506 12,968 9,765 7,752 6,310 5,657 4,278 4,250 3,551 3,479 3,211 1,796 1,706 1,500 16,363 432,536
93,076 75,859 59,517 47,114 26,867 21,525 16,100 12,968 9,765 7,752 6,310 5,657 4,278 4,250 3,551 2,792 3,211 1,796 1,706 750 16,238 421,082
30.2.3. During the year additions to the investment portfolio of the federal government was Rs. 16.783 billion (2005-2006: Rs. 14.508 billion). 30.3. Loans And Advances Opening Balance Add: Disbursements - Capital expenditure Less: Recoveries Closing Balance 30.3.1. Loans and Advances-Closing Balance
Page 30 of 35
26 21 30.3.1
772,644 119,479 (81) 892,042
702,605 105,844 (79) 808,370
Non-Financial Institutions Provincial Governments East Pakistan Financial Institutions Government Employees Railways Others
30.3.1.1
434,854 250,894 10,080 8,025 5,665 1,543 120,834 831,895 2007 Rupees in Million
406,383 227,553 10,080 9,809 4,933 1,543 112,343 772,644 2006 Rupees in Million
30.3.1.1. Provincial Governments Advances Punjab Sindh N.W.F.P. Baluchistan Former West Pakistan 134,033 39,159 48,043 21,159 8,501 250,895 30.4. Current Assets Other Receivables Other Assets Civil Departmental Balances 10,121 4,108 19,247 33,476 30.4.1. Civil Departmental Balances Civil Public Works Mint Customs Pakistan Missions Abroad National Savings Pakistan Post Office Defence Pakistan PWD Geological Survey of Pakistan Others 1,955 21 5,665 174 2,462 3,286 1,748 748 3,295 14 (121) 19,247 30.5. Public Debt Domestic Debt Government Securities Opening Balance Add: Loan Receipts 1,955 18 5,665 (469) 2,290 8,420 1,593 43 3,084 14 (120) 22,493 8,792 3,285 22,493 34,570 116,629 42,228 43,289 16,906 8,501 227,553
30.4.1
1,314,107 2,391,576
1,168,697 2,144,590
Page 31 of 35
Less: Principal Repayment of Loans Closing Balance Permanent Debt Foreign Debt Opening Balance Add: Loan Receipts Less: Principal Repayment of Loans Closing Balance (2,182,503) 1,523,180 3,919 1,527,099 891,934 206,047 (69,671) 1,028,310 2,555,409 2007 Rupees in Million 30.5.1. Government Securities Treasury Bills and Promissory Notes Pakistan Investment Bonds National Prize Bonds Federal Investment Bonds Others 1,043,412 352,936 180,209 41,457 (94,834) 1,523,180 876,140 306,719 170,135 44,972 (83,859) 1,314,107 (1,999,180) 1,314,107 3,919 1,318,026 792,860 180,468 (81,394) 891,934 2,209,960 2006 Rupees in Million
30.5.1
17 24 30.5.2
30.5.2. The total amount of foreign currency has been exchanged at the exchange rate used in its valuation which is the historical rate of exchange. These debts have not been revalued and no exchange difference have been recognized in the books of the federal government. 30.6. Special Deposits And Trust Accounts Investment Deposit Accounts Grants and Aid Remittances Other Trust Accounts Relief Funds Coinage Account Development Funds Other Funds Education and Training Funds Welfare Fund Others 30.6.1 841,450 80,748 66,128 28,499 10,483 6,502 5,187 4,160 981 495 (28,788) 1,015,845 30.6.1. Investment Deposit Accounts Defence Savings Certificates Behbood Savings Certificates 285,964 195,693 291,911 149,479 785,476 79,535 55,814 28,357 11,332 6,094 5,209 4,043 978 491 353 977,682
Page 32 of 35
Special Savings Certificates Special Savings Accounts Regular Income Certificates Khas Deposit Certificates Pensionary Benefits Savings Bank Accounts Premium Savings Certificates Others 108,606 89,527 25,392 39,234 46,651 25,622 19,313 5,448 841,450 2007 Rupees in Million 30.7. Deferred Liabilities Provident Fund Postal Life Insurance Fund Welfare Fund Benevolent Fund Others 30.7.1 50,001 13,149 3,941 143 9 67,243 30.7.1. Provident Fund Armed Forces Personnel Defence Services Officers GPF- Defence GPF- Civil GPF- Pakistan Post Office GPF- Foreign Affairs GPF- National Savings GPF- Pakistan P.W.D GPF- Food Wing GPF- Mint GPF- Forest GPF- Geological Survey of Pakistan Defence Savings Provident Fund- Railway Unclaimed Deposits Others 21,712 9,345 8,987 7,916 1,192 458 230 81 1 11 (4) (15) 53 23 11 50,001 30.8. Capital Receipts Privatization Proceeds Investment Receipts 196,269 66,270 262,539 30.9. Residual Equity 124,805 66,270 191,075 17,802 8,543 8,558 7,635 1,118 436 235 77 2 8 (3) (4) 53 23 12 44,495 44,495 11,576 3,941 157 14 60,183 101,636 86,618 42,490 39,235 35,183 19,320 19,313 291 785,476 2006 Rupees in Million
Page 33 of 35
Opening Balance Revenue Account-by function Receipts during the year Payments during the year Revenue account deficit by function Miscellaneous adjustments Closing Balance 30.9.1 #VALUE! #REF! #REF! #VALUE! (9) #VALUE! (1,755,657) #REF! #REF! #VALUE! (4,368) #VALUE!
30.9.1. This represents the difference between assets and liabilities disclosed in note 30 to the financial statements. 31. AUTHORIZATION FOR ISSUE Under section 7 of the Auditor General's (Functions, Powers and Terms and Conditions of Service) Ordinance, 2001, read with Article 171 of the Constitution, the Auditor-General submits the certified financial statements of the federal government together with the audit reports on these financial statements to the President of the Islamic Republic of Pakistan who shall cause them to be laid before the National Assembly. These consolidated financial statements have been authorized for issue on ________________.
32. GENERAL 32.1. Level of Precision Figures in these consolidated financial statements have been rounded off to the nearest million of rupees, unless otherwise stated.
32.2. Corresponding Figures Corresponding figures, wherever necessary, have been rearranged and reclassified for the purposes of comparison.
_________________________________ Accountant General Pakistan Revenues
___________________________ Controller General of Accounts
Page 34 of 35
FEDERAL GOVERNMENT Consolidated Statement of Assets & Liabilities As at 30 June 2007

2007 Note LONG TERM ASSETS INVESTMENTS LOANS AND ADVANCES CURRENT ASSETS Other Receivables Other Assets Civil Departmental Balances Cash and Bank 30 31 32 Rupees in million 188,846 447,835 892,042 2006 Rupees in million 166,844 431,055 808,370
33 34
10,121 4,108 19,247 29,052 62,528 1,591,251
8,792 3,285 22,493 (10,228) 24,342 1,394,885
TOTAL ASSETS
PUBLIC DEBT SPECIAL DEPOSITS AND TRUST ACCOUNTS DEFERRED LIABILITIES CAPITAL RECEIPTS TOTAL LIABILITIES RESIDUAL EQUITY
35 36 37 38
2,555,409 1,015,845 67,243 262,539 3,901,036
2,209,960 977,682 60,183 191,075 3,438,900 (2,044,015)
39
(2,309,785)
_____________________________________
Accountant General Pakistan Revenue The annexed notes 1 to 42 form an integral part of these financial statements.
Page 35 of 35
__________________________ Controller General Accounts

Ipsas 2007-08 Final

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GOVERNMENT OF BALOCHISTAN Statement of Cash Receipts and Payments For the Year Ended 30 June 2008

302 434 7,966 28 1,426 10,156 22,583

256 869 13,237 131 28 1,269 15,790 19,277

799 799 81 3,424 2,210 62,331 ###

13,057 13,057 79 66,817

11,066 4,636 15,702 5,159 80 5,239 480 22,274 22,754

N/A* N/A* N/A

N/A N/A N/A

____________________________ Accountant General Balochistan

81 (22,754) (363) (1,295) (24,331) ###

79 (20,043) (2) (19,966)

799 ### (7,003) 630 (5,574) (6,710) (10,168)

13,057 (12,274) 956 1,739 6,176 (16,344) (10,168)

Payments of District Governments TOTAL

responsibility for accounting and reporting.

These financial statements include all centralized and district governments.

4. ACCOUNTING CONVENTION AND BASIS OF PREPARATION

5. REPORTING AND BUDGET PERIOD

The reporting currency of these financial statements is Pakistani Rupees.

a) Payments made through cheque

Expenditure is recognized on the date the cheque is issued.

Expenditure is recognized on the date the transfer is made by the transferor.

d) Direct payments by State Bank of Pakistan (SBP)

For the Year Ended 30 June 2007

7.3. Foreign currency

The government has following plans for its employees:

7,281 2 134 7,417 7,871 2,976 3,927

6,301 6,301 6,298 2,671 2,420

10 ### 69 40 1 120 329 158 246 34 767 887

2 59 36 1 121 219 345 150 204 6 705 924

137 184 45 45 18 5 434

161 68 381 83 176 869

Note 13 INTEREST ON LOANS AND ADVANCES Interest on Domestic Loan 13.1

2008 Rupees in Million

2007 Rupees in Million

13.1 Interest On Domestic Loan Financial Institutions 131 131

FOREIGN DEBT - RECEIPTS Federal Government 799 799 -

13,166 1,295 14,461

11,982 1,420 13,402

2007 Rupees in Million

80,219 (13,402) 66,817

84,132 (14,461) 69,671

74,999 (13,402) 61,597

Accountant General Balochistan

Income Tax Sales Tax Customs

2007 Rupees in Million

2006 Rupees in Million

8.6. Taxation Others

Workers Welfare Fund

8.7. Provincial Share

10. ECONOMIC SERVICES RECEIPTS

11. DEFENCE SERVICES RECEIPTS

291 802 710 333 531 73 10 2,750

260 632 536 356 266 75 6 2,131

875 1,391 169 76 14 2,525

2,191 1,264 194 173 9 3,831

75,452 2 848 873 342 296 261 1,708

64,150 82 787 513 478 188 586 989

2006 Rupees in Million

2006 Rupees in Million

13,934 10,959 24,893

2006 Rupees in Million

88,856 399 11,237 9,805 110,297

1,337,688 696,554 51 2,034,293 1,155,088 716,993 51