News Paper: Business Recorder
PESHAWAR (July 20 2010): All five industrial estates working under the supervision of Sarhad Development Authority (SDA) are running into losses for the last four years, said an audit report on the Accounts of Public Sector Enterprises of the provincial government for the year 2006-07.
The deficit of the estate for the year 2005-06 stood at Rs 10.965 million as against the deficit of Rs 8.137 million of the previous year. The deficit was mainly due to the decrease in income by 28 percent and increase in administrative expenses by 9 percent over the previous year. The accumulated deficit decreased from Rs 20.025 million in 2004-05 to Rs 16.667 million due to increase in rental and other income.
The SDA Industrial Estate, D I Khan is continuously running into losses since its inception and as a result accumulated deficit increased to Rs 49.746 million as on June 30, 2006. The current assets of the estate stood at Rs 0.490 million as against current liabilities of Rs 20.179 million as on June 30, 2006, which reflects its poor liquidity position. Interestingly, out of the total allottable land only 10 acre land was allotted to entrepreneurs who did not start construction of industrial units on their plots up to June 30, 2006. Due to non-sale of plots the estate is not in a position to repay the overdue loans of Rs 20.00 million to the provincial government.
The case of the Gadoon Amazai Industrial Estate is also the same where current assets of the estate stood at Rs 28.872 million as against current liabilities of Rs 31.882 million as on June 30, 2006. The accounts showed a surplus of Rs 14.651 million for the year 2005-06 as against deficit of Rs 8.995 million in the year 2004-05. The surplus was mainly due to charging of extension charges of Rs 26.845 million pertaining to the period since 1989-90 to June 30, 2006, which was accounted for during the year 2005-06.
In the year 2006-07 the income of Industrial Estate, Hattar increased by 18 percent as compared to the previous year even then it could met the operating expenses. The current assets of the estate stood at Rs 68.441 million as against current liabilities of Rs 88.458 million as on June 30, 2006. Receivable stood at Rs 59.192 million as on June 30, 2006. Major portion of the receivable pertained to lease money interest charges, development charges and water charges outstanding against closed units.
The Industrial Estate, Nowshera was also running into losses continuously for the last four years. The deficit of the estate increased from Rs 1.695 million in 2004-05 to Rs 2.143 million in 2005-06 registering an increase of 26 percent. The deficit was mainly due to increase in operating expenses by 15 percent over the previous year. Resultantly, the accumulated deficit increased from Rs 10.935 million as on June 30, 2005 to Rs 12.499 million as on June 30, 2006. The current assets stood at Rs 4.258 million against current liabilities of Rs 20.992 million as on June 30, 2006, which reflected poor liquidity position of the estate.
-www.brecorder.com
The deficit of the estate for the year 2005-06 stood at Rs 10.965 million as against the deficit of Rs 8.137 million of the previous year. The deficit was mainly due to the decrease in income by 28 percent and increase in administrative expenses by 9 percent over the previous year. The accumulated deficit decreased from Rs 20.025 million in 2004-05 to Rs 16.667 million due to increase in rental and other income.
The SDA Industrial Estate, D I Khan is continuously running into losses since its inception and as a result accumulated deficit increased to Rs 49.746 million as on June 30, 2006. The current assets of the estate stood at Rs 0.490 million as against current liabilities of Rs 20.179 million as on June 30, 2006, which reflects its poor liquidity position. Interestingly, out of the total allottable land only 10 acre land was allotted to entrepreneurs who did not start construction of industrial units on their plots up to June 30, 2006. Due to non-sale of plots the estate is not in a position to repay the overdue loans of Rs 20.00 million to the provincial government.
The case of the Gadoon Amazai Industrial Estate is also the same where current assets of the estate stood at Rs 28.872 million as against current liabilities of Rs 31.882 million as on June 30, 2006. The accounts showed a surplus of Rs 14.651 million for the year 2005-06 as against deficit of Rs 8.995 million in the year 2004-05. The surplus was mainly due to charging of extension charges of Rs 26.845 million pertaining to the period since 1989-90 to June 30, 2006, which was accounted for during the year 2005-06.
In the year 2006-07 the income of Industrial Estate, Hattar increased by 18 percent as compared to the previous year even then it could met the operating expenses. The current assets of the estate stood at Rs 68.441 million as against current liabilities of Rs 88.458 million as on June 30, 2006. Receivable stood at Rs 59.192 million as on June 30, 2006. Major portion of the receivable pertained to lease money interest charges, development charges and water charges outstanding against closed units.
The Industrial Estate, Nowshera was also running into losses continuously for the last four years. The deficit of the estate increased from Rs 1.695 million in 2004-05 to Rs 2.143 million in 2005-06 registering an increase of 26 percent. The deficit was mainly due to increase in operating expenses by 15 percent over the previous year. Resultantly, the accumulated deficit increased from Rs 10.935 million as on June 30, 2005 to Rs 12.499 million as on June 30, 2006. The current assets stood at Rs 4.258 million against current liabilities of Rs 20.992 million as on June 30, 2006, which reflected poor liquidity position of the estate.
-www.brecorder.com
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