Certificate

capital

Capital /

Statutory reverse

Net unrealised

gain / (loss) in

the value of securities

available for

sale

Unappropriated

profits

Total

reserves

Total equity

............................................................Rupees...................................................

Particulars December 31 June 30 December 31 June 30 December 31 June 30

2006 2006 2006 2006 2006 2006

Cement:

D.G. Khan Cement Company Limited 16,000 10,000 1,582,927 1,158,443 1,012,000 900,000

Ordinary shares of Rs. 10 each

Fauji Cement Company Limited 25,000 - 492,597 - 377,500 -

Ordinary shares of Rs. 10 each

Maple Leaf Cement Factory Limited 62,500 52,500 2,500,486 2,278,941 1,093,750 1,344,000

Ordinary shares of Rs. 10 each

Lucky Cement Limited 15,000 10,000 1,588,608 1,133,117 900,000 1,048,000

Ordinary shares of Rs. 10 each

Chemicals:

Nimir Industrial Chemical Limited 50,000 50,000 336,533 336,533 172,500 245,000

Ordinary shares of Rs. 10 each

Oil Marketing Company

Pakistan State Oil 13,000 10,000 4,952,128 3,871,162 3,822,000 3,095,000

Ordinary shares of Rs. 10 each

Textile Composite:

Nishat Mills Limited 16,000 10,000 1,878,632 1,438,144 1,404,800 1,048,000

Ordinary shares of Rs. 10 each

Chenab Limited 20,000 20,000 472,872 472,872 202,000 291,000

Ordinary shares of Rs. 10 each

Colony Mills Limited 120,000 - 1,124,316 - 1,044,000 -

Ordinary shares of Rs. 10 each

Mutual Funds:

PICIC Growth Funds 20,000 20,000 945,370 945,370 564,000 632,000

Ordinary shares of Rs. 10 each

Refinery:

BOSICOR Pakistan Limited 40,000 40,000 1,318,631 1,318,631 620,000 866,000

Ordinary shares of Rs. 10 each

Fertilizer:

Fauji Fertilizer Bin Qasim Limited 40,000 30,000 1,553,683 1,277,628 1,140,000 877,500

Ordinary shares of Rs. 10 each

Insurance:

Adamjee Insurance Company Limited - 29,100 - 4,396,726 - 3,570,570

Ordinary shares of Rs. 10 each

Power Generation And Distribution:

Karachi Electric Supply Corporation Ltd 50,000 50,000 631,729 631,729 330,000 390,000

Ordinary shares of Rs. 10 each

TOTAL 23,352,927 26,391,391 15,669,701 19,644,370

No. of shares Average cost Fair market value

................Numbers................ ............................... Rupees ............................

13. BALANCES AND TRANSACTIONS WITH RELATED PARTIES