| |
| Capital
Commitments |
| Capital expenditure contracted
for at the Balance Sheet date but not recognised in the financial
statements is as follows: |
| |
|
|
|
|
| |
|
Group |
 |
Company |
|
|
|
|
|
| |
|
2002 |
|
2001 |
|
2002 |
|
2001 |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Property,
plant & equipment |
|
3,737 |
|
2,735 |
|
3,570 |
|
2,735 |
| |
|
|
|
|
|
|
|
|
| Lease
Commitments |
| The future minimum lease
payments under non-cancellable operating leases are as follows: |
| |
|
|
|
|
| |
|
Group |
|
Company |
|
|
|
|
|
| |
|
2002 |
|
2001 |
|
2002 |
|
2001 |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Later
than one year and not later than five years |
|
22 |
|
– |
|
– |
|
– |
| |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Financial
Commitments |
Under
the agreement dated 6 February 2001, Mobitel (Private) Limited was
granted flagship status whereby the tax exemption period of seven
(7) years under the Board of Investments (BOI) agreement dated 15
January 1993 was extended up to a period of fifteen (15) years. This
extension is on the condition that Mobitel (Private) Limited will
increase actual investment in fixed assets up to a minimum of US $
50 million (USD 50 million) on or before 31 December 2003.
Mobitel (Private) Limited is liable to pay maintenance charges with
regard to the Network Switch to Ericsson Australia (Private) Limited
against which no provision has been made as the basis for such payment
is yet to be agreed.
The Department of Inland Revenue has issued assessments with regard
to interest income of Mobitel (Private) Limited amounting to Rs. 1,424,647/-
on ground it is not exempt under the BOI agreement. Further a sum
of Rs. 25,568,225/- remains a contingent liability on account of tax
on interest income for which assessments have not been issued. No
provision has been made in the financial statements on account of
a liability as Mobitel (Private) Limited is in the process of negotiating
with the Inland Revenue. |
| |
|
