I I I I I: National Database AND

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Public Disclosure Authorized
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NATIONAL DATABASE
AND
REGISTRATION AUTHORITY
AUDITED FINANCIAL STATEMENTS
I FOR THE YEAR ENDED
JUNE 30, 2018

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Horwath Hussain Chaudhury & Co.
(Chartered Accountants)
House no 98Z Street no 21, Phase 4,
Bahria Town, Islamabad
Tel: +92 (51) 5737581-2
Fax: +92 (51) 5732505
cahabib@hotmail.com
www.crowehorwathpk.com
AUDITORS' REPORT TO THE MEMBERS OF

NATIONAL DATABASE AND REGISTRATION AUTHORITY
Opinion
We have audited the annexed financial statements of "NATIONAL DATABASE AND
REGISTRATION AUTHORITY", which comprise the statement of financial position as at June 30,
2018 and the income and expenditure account, the statement of other comprehensive income, the
I statement of changes in accumulated surplus, the statement of cash flows for the year then ended, and
notes to the financial statements, including a summary of significant accounting policies and other
explanatory information.
In our opinion and to the best of our information and according to the explanations given to us, the
statement of financial position and the income and expenditure account, the statement of other
comprehensive income, the statement of changes in accumulated surplus, the statement of cash flows
together with the notes forming part thereof conform with the accounting and reporting standards as
applicable in Pakistan and give the information required by the Companies Act, 2017 (XIX of 2017), in
the manner so required and respectively give a true and fair view of the state of the authority's affairs as
at June 30, 2018 and of the surplus , the changes in accumulated surplus and its cash flows for the year
then ended.
Basis for Opinion
We conducted our audit in accordance with International Standards on Auditing (ISAs) as applicable in
Pakistan. Our responsibilities under those standards are further described in the Auditors'
Responsibilities for the Audit of the Financial Statements section of our report. We are independent of
the authority's in accordance with the International Ethics Standards Board for Accountants' Code of
Ethics for Professional Accountants as adopted by the Institute of Chartered Accountants of Pakistan
and we have fulfilled our other ethical responsibilities in accordance with the Code. We believe that the
audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Responsibilities of Management and Members of the NADRA Authority for the Financial
Statements
Management is responsible for the preparation and fair presentation of the financial statements in
accordance with the accounting and repoxting standards as applicable in Pakistan and the requirements
of Companies Act, 2017(XIX of 2017) and for such internal control as management determines is
necessary to enable the preparation of financial statements that are free from material misstatement,
whether due to fraud or error.
In preparing the financial statements, management is responsible for assessing the authority's ability to
continue as a going concern, disclosing, as applicable, matters related to going concern and using the
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* Horwalh Huissai auduy & Co. isa memer ofCrossT IP, a wordide nelwork of idependent accouing andmagencoslgfm
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going concern basis of accounting unless management either intends to liquidate the authority's or to
cease operations, or has no realistic alternative but to do so.
Members of the NADRA are responsible for overseeing the Authority's financial reporting process.
Auditors' Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are
free from material misstatement, whether due to fraud or error, and to issue an auditors' report that
includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an
audit conducted in accordance with ISAs as applicable in Pakistan will always detect a material
misstatement when it exists. Misstatements can arise from fraud or error and are considered material if,
individually or in the aggregate, they could reasonably be expected to influence the economic decisions
of users taken on the basis of these financial statement
As part of an audit in accordance with ISAs as applicable in Pakistan, we exercise professional judgment
and maintain professional skepticism throughout the audit. We also:
* Identify and assess the risks of material misstatement of the financial statements, whether due to
fraud or error, design and perform audit procedures responsive to those risks, and obtain audit
evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not
detecting a material misstatement resulting from fraud is higher than for one resulting from error,
as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the
override of internal control.
I * Obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the Authority's internal control.
* Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by management.
* Conclude on the appropriateness of management's use of the going concern basis of accounting
and, based on the audit evidence obtained, whether a material uncertainty exists related to events
or conditions that may cast significant doubt on the Authority's ability to continue as a going
concern. If we conclude that a material uncertainty exists, we are required to draw attention in
our auditors' report to the related disclosures in the financial statements or, if such disclosures
are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained
up to the date of our auditors' report. However, future events or conditions may cause the
Authority's to cease to continue as A going concern.
* Evaluate the overall presentation, structure and content of the financial statements, including the
disclosures, and whether the financial statements represent the underlying transactions and
events in a manner that achieves fair presentation.
We communicate with the members of the NADRA Authority board regarding, among other matters, the
planned scope and timing of the audit and significant audit findings, including any significant
deficiencies in internal control that we identify during our audit.
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I Based on our audit, we further report that in our opinion:
a) Proper books of account have been kept by the authority as required by the Companies Act, 2017
(XIX of 2017);
b) The statement of financial position, the income and expenditure account, statement of changes in
accumulated surplus, the statement of other comprehensive income and the statement of cash
- flows together with the notes thereon have been drawn up in conformity with the Companies
Act, 2017 (XIX of 2017) and are in agreement with books of account;
c) Expenditure incurred and guarantees extended during the year were for the purpose of the
authority's business; and
Id) No zakat was deductible at source under the Zakat and Ushr Ordinance, 1980 (XVIII of 1980).
The engagement partner on the audit of NATIONAL DATABASE AND REGISTRATION

AUTHORITY for the year ended June 30, 2018 resulting in this independent auditors' report is
Chaudhury Ahmed Habib.
~n Ch.,,
Cr HrA
* t ational
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Place: Islamabad HOR TH SSAIN CHAUDHIURY & CO.
Dated: December 21, 2018 (CHARTERED ACCOUNTANTS)
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STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2018
1 Note
2018
Rupees
2017
Rupees
ASSETS
Non-current assets a,
Property and equipment 4 5,296,784,37-2 4,607,098,285
Intangibles 5 32,552,771 131,317,273
Investment in Subsidiary 6 25,000,000
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5,354,337,143 4,738,415,558
Current assets
Trade receivables 7 3,055,416,192 2,845,870,165
Inventory 1,112,403,020 752,146,105
Advances 8 496,673,835 357,905,958
Advance tax - net 9 535,330,423 507,562,920
Accrued interest 134,851,089 96,446,742
Deposits and prepayments 10 230,234,508 218,808,086
Other receivables 11 - 30,003,319
Short term investments 12 20,037,593,601 13,769,611,551
Non-current assets held for sale 6 - 25,000,000
Cash and bank balances 13 6,000,546,610 5,318,999,438
31,603,049,278 23,922,354,284
Total assets 36,957,386,421 28,660,769,842
EQUITY AND LIABILITES

Equity
Accumulated surplus 12,942,179,714 8,926,208,884
Non-current liabilities
Deferred employee benefits 14 1,732,501,705 1,120,954,654
I Current liabilities
Unearned income
1,732,501,705
340,868,132
1,120,954,654
568,320,516
Trade and other payables 15 21,956,430,889 18,030,352,460
Advances against projects 16 85,405,981 14,933,328
22,382,705,002 18,613,606,304
24,115,206,707 19,734,560,958
Total Equity and Liabilities 36,957,386,421 28,660,769,842
Contingencies and commitments 17
The annexed notes I to 27 form an integral part of these financial statements.
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4.CHAIRMAN SECRETARYr
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1 NATIONAL DATABASE AND REGISTRATION AUTHORITY
INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 JUNE 2018
2018 2017
Note Rupees Rupees
Turnover 18 23,450,249,356 21,324,393,538
Expenditure 19 (18,152,071,610) (15,899,948,712)
Operating Profit 5,298,177,746 5,424,444,826
Finance cost 20 33,209,612 (137,629,416)
Other income 21 1,379,230,981 1,071,476,731
Surplus before taxation 6,710,618,339 6,358,292,141
Taxation 22 (557,272,970) (450,784,001)
Surplus for the year 6,153,345,369 5,907,508,140
The annexed notes 1 to 27 form an integral part of these financial statements.
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STATEMENT OF OTHER COMPREHENSIVE INCOME
2018 2017
Note Rupees Rupees
1 Surplus for the year 6,153,345,369 5,907,508,140
I Other comprehensive income
Remeasure loss on employee retirement benefit plans:

Actuarial losses - pension 15.5 (2,170,447,534) (3,468,188,808)
Actuarial losses - gratuity 14.1 (66,927,005) (39,295,335)
(2,237,374,539) (3,507,484,143)
1 Total comprehensive income for the year 3,915,970,830 2,400,023,997
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I CHAIRMAN SECRETARY
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1 STATEMENT OF CASH FLOW

2018 2017
INote
Cash flows from operating activities
Rupees Rupees
Surplus before taxation 6,710,618,339 6,358,292,141

Adjustments for:
- Depreciation 819,0k7,653 719,157,917
- Amortization 99,913,434 112,555,605
- Provision for employee benefits 2,980,339,710 2,468,229,489
- Provision for doubtful receivables 101,486,671 121,821,140
- Gain on sale of operating fixed assets (58,226,059) (82,986,381)
- Profit on deposit accounts and term deposit certificates (1,282,675,067) (952,205,788)
9,370,474,681 8,744,864,123
Changes in:
I C Trade receivables
- Inventory
(311,032,698)
(360,256,915)
(777,251,761)
94,323,131
- Advances (138,767,877) 289,738,004
- Deposits and prepayments (11,426,422) 83,804,467
- Other receivables 30,003,319 119,813,397
- Unearned income (227,452,384) 31,029,689
- Trade and other payables 263,483,228 1,797,573,068
- Advances against projects 70,472,653 (328,252,935)
(684,977,096) 1,310,777,060
Cash generated from operations 8,685,497,585 10,055,641,183
I Income tax paid

Contribution to employee pension fund
Employees benefits paid
(585,040,473)
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(943,571,997)
(538,556,001)
(12,699,203,620)
(53,778,140)
Net cash from operating activities 7,156,885,115 (3,235,896,578)
Cash flows from investing activities
I Additions to property and equipment

Proceeds from disposals of operating fixed assets
Additions to intangible assets
(1,508,716,051)
58,238,370
(1,148,932)
(1,066,140,279)
82,996,962
(1,271,212)
Short term investments - net (6,267,982,050) (8,261,870,258)
Profit received on deposit accounts and term deposit certificates 1,244,270,720 917,304,074
Net cash (used in)/generated from investing activities (6,475,337,943) (8,328,980,713)
Cash flows from financing activities

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Net (decrease) / increase in cash and cash equivalents 681,547,172 (11,564,877,291)

Cash and cash equivalents at beginning of the year 5,318,999,438 16,883,876,729
Cash and cash equivalents at end of the year 13 6,000,546,610 5,318,999,438
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CHAIRMAN SECRETARY
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STATEMENT OF CHANGES IN ACCUMULATED SURPLUS
Accumulated
surplus
Rupees
Balance at 01 July 2016 6,526,184,887
I Surplus for the year 5,907,508,140

(3,507,484,143)
Other comprehensive income / (loss)
Total comprehensive income for the year 2,400,023,997
I Balance at 30 June 2017 8,926,208,884
I Balance at 01 July 2017 8,926,208,884
Surplus for the year 6,153,345,369

Other comprehensive income / (loss) (2,237,374,539)
Total comprehensive income for the year 3,915,970,830
Balance at 30 June 2018 12,842,179,714
The annexed notes I to 27 form an integral part of these financial statements.
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fl4 CHAIRMAN SECRETARY
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NOTES TO THE FINANCIAL STATEMENTS
1 LEGAL STATUS AND NATURE OF OPERATIONS

National Database and Registration Authority (NADRA), ("the Authority") was established on 10 March 2000 by
the Government of Pakistan under the National Database and Registration Authority Ordinance 2000 ("the
Ordinance") by merging the National Database Organization (NDO) and the Directorate general of Pakistan
(DGR). The principal office of the Authority is situated at State Bank of Pakistan building, Shahrah-e-Jamhuriat,
G/5-2, Islamabad, Pakistan.
The purpose and object of the Authority is to formulate and implement policies and plans for the development
and establishment of an improved and modernized system of registration in the country, broadening of the
registration base to bring within its purview all persons and things, wherever they may be, to the extent and in the
manner laid down in the Ordinance; and establishment and maintenance of multi-purpose databases, data
warehousing, networking, interfacing of databases and related facilities and services.
I 2 BASIS OF PREPARATION
2.1 STATEMENT OF COMPLIANCE
These financial statememts have been prepared in accordance with the accounting and reporitng standards as
applicable in Pakistan. The accounting and reporting standards applicable in Pakistan comprise of: International
Financial Reporting standards (IFRS Standards) issued by the International Accounting Standards Board (IASB)
as notified under the Companies Act, 2017: the provisions and directives issued under the Companies Act, 2107.
Where the provisions of and directives issued under the Companies Act, 2017 differ from the IFRS Standards,
the provisions of and directives issued under the Companies Act, 2017 have been followed.
2.2 Basis of measurement

These financial statements have been prepared on the historical cost basis except for the liabilities related to staff
retirement benefits which are measured at their present value in accordance with the requirements of IAS - 19
"Employee Benefits".
2.3 Functional and presentation currency

Items included in these financial statements are measured using the currency of the primary economic
environment in which the Authority operates. The financial statements are presented in Pakistan Rupees, which is
the Authority's functional and presentation currency.
2.4 Significant estimates and judgments

The preparation of financial statements in conformity with the approved accounting standards requires
management to make judgments, estimates and assumptions that affect the application of policies and reported
amounts of assets, liabilities, income and expenses. The estimates and associated assumptions are based on
historical experience and various other factors that are believed to be reasonable under the circumstances, the
results of which form the basis of making the judgments about carrying values of assets and liabilities that are not
readily apparent from other sources. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates
affects only that period, or in the period
are recognized in the period in which estimates are revised if the revision
of the revision and future periods if the revision affects both current and future periods.
Judgments made by management in the application of approved accounting standards that have significant effect
on the financial statements and estimates with a significant risk of material adjustment in the next year are
discussed in the ensuing paragraphs.
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I NATIONAL DATABASE AND REGISTRATION AUTHORITY
I NOTES TO THE FINANCIAL STATEMENTS

(a) Property and equipment and intangibles
The Authority reviews the useful lives and residual value of property and equipment and intangibles on a regular
(b) Provision against trade receivables, advances and other receivables
Carrying amounts of trade receivables, advances and other receivables are assessed by the Authority on a regular
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basis and if there is any doubt about the realisability of these receivables, appropriate amount of provision is
made.
Taxation
The Authority takes into account the current income tax law and decisions taken by appellate authorities.
Instances where the Authority's view differs from the view taken by the income tax department at the assessment
stage and where the Authority considers that its view on items of material nature is in accordance with law, the
amounts are shown as contingent liabilities.
(d) Provision of staff retirement benefits
I The Authority adopts certain actuarial assumptions as disclosed in note 14 and 15.6 to these financial statements
for determination of present value of defined benefit obligations. Any changes in these assumptions in future
years might affect unrecognized gains and losses in those years.
(e) Provisions and contingencies

The Authority reviews the status of all the legal cases on a regular basis. Based on the expected outcome and
lawyers' judgments, appropriate disclosure or provision is made.
2.5 Standards, interpretations and amendments to published approved accounting standards that are not yet
effective
The following standards, amendments and interpretations of approved accounting standards will be effective for
accounting periods beginning on or after 01 July 2017:
Amendments to IAS 12 'Income Taxes' are effective for annual periods beginning on or after 1 January 2017.
The amendments clarify that the existence of a deductible temporary difference depends solely on a comparison
of the carrying amount of an asset and its tax base at the end of the reporting period, and is not affected by
possible future changes in the carrying amount or expected manner of recovery of the asset. The amendments
further clarify that when calculating deferred tax asset in respect of insufficient taxable temporary differences,
the future taxable profit excludes tax deductions resulting from the reversal of those deductible temporary
differences. The amendments are not likely to have an impact on Company's financial statements.
- Amendments to IAS 7 'Statement of Cash Flows' are part of IASB's broader disclosure initiative and are
effective for annual periods beginning on or after 1 January 2017. The amendments require disclosures that
enable users of financial statements to evaluate changes in liabilities arising from financing activities, including
both changes arising from cash flow and non-cash changes.
- Amendments to IFRS 2 - Share-based Payment clarify the accounting for certain types of arrangements and are
effective for annual periods beginning on or after 1 January 2018. The amendments cover three accounting areas
(a) measurement of cash-settled share-based payments; (b) classification of share-based payments settled net of
tax withholdings; and (c) accounting for a modification of a share-based payment from cash-settled to equity-
settled. The new requirements could affect the classification and/or measurement of these arrangements and
potentially the timing and amount of expense recognized for new and outstanding awards. The amendments are
. not likely to have an impact on Company's financial statements.
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- Transfers of Investment Property (Amendments to IAS 40 'Investment Property' -effective for annual periods
beginning on or after 1 January 2018) clarifies that an entity shall transfer a property to, or from, investment
property when, and only when there is a change in use. A change in use occurs when the property meets, or
ceases to meet, the definition of investment property and there is evidence of the change in use. In isolation, a
change in management's intentions for the use of a property does not provide evidence of a change in use. The
amendments are not likely to have an impact on Company's financial statements.
Annual improvements to IFRS standards 2014-2016 cycle. The new cycle of improvements addresses
improvements to following approved accounting standards:
- Amendments to IFRS 12 'Disclosure of Interests in Other Entities' (effective for annual periods beginning on or
after 1 January 2017) clarify that the requirements of IFRS 12 apply to an entity's interests that are classified as
held for sale or discontinued operations in accordance with IFRS 5 - 'Non-current Assets Held for Sale and
Discontinued Operations'. The amendments are not likely to have an impact on Company's financial statements.
I - Amendments to IAS 28 'Investments in Associates and Joint Ventures' (effective for annual periods beginning
on or after 1 January 2018) clarifies that a venture capital organization and other similar entities may elect to
I measure investments in associates and joint ventures at fair value through profit or loss, for each associate or joint
venture separately at the time of initial recognition of investment. Furthermore, similar election is available to
non-investment entity that has an interest in an associate or joint venture that is an investment entity, when
applying the equity method, to retain the fair value measurement applied by that investment entity associate or
joint venture to the investment entity associate's or joint venture's interests in subsidiaries. This election is made
separately for each investment entity associate or joint venture. The amendments are not likely to have an impact
on Company's financial statements.
- IFRIC 22 'Foreign Currency Transactions and Advance Consideration' (effective for annual periods beginning
on or after 1 January 2018) clarifies which date should be used for translation when a foreign currency
transaction involves payment or receipt in advance of the item it relates to. The related item is translated using the
exchange rate on the date the advance foreign currency is received or paid and the prepayment or deferred
income is recognized. The date of the transaction for the purpose of determining the exchange rate to use on
initial recognition of the related asset, expense or income (or part of it) would remain the date on which receipt of
payment from advance consideration was recognized. If there are multiple payments or receipts in advance, the
entity shall determine a date of the transaction for each payment or receipt of advance consideration.
- IFRIC 23 'Uncertainty over Income Tax Treatments' (effective for annual periods beginning on or after I
January 2019) clarifies the accounting for income tax when there is uncertainty over income tax treatments under
IAS 12. The interpretation requires the uncertainty over tax treatment be reflected in the measurement of current
and deferred tax.
The above amendments are not likely to have an impact on Company's financial statements.
3 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The accounting policies set out below have been applied consistently to all periods presented in these financial
statements except for the change as mentioned in note 3.1 to these financial statements.
3.1 Fair Value Measurement
IFRS 13 "Fair Value Measurement" became effective from financial periods beginning on or after 01 January
2015. IFRS 13 establishes a single framework for measuring fair value and making disclosures about fair value
measurements when such measurements are required or permitted by other IFRSs. It unifies the definition of fair
value as a price that would be received to sell an asset or paid to transfer a liability in an orderly transaction
between market participants at the measurement date. It replaces and expands the disclosure requirements about
fair value measurements in other IFRSs, including IFRS 7. The application of IFRS 13 does not have any impact
on the financial statements of the Authority except for certain additional disclosures.
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3.2 Staff retirement benefits
Pension
The Authority operates an approved funded pension scheme for its eligible employees as provided by the rules of
the scheme. An employee is entitled to benefits under pension scheme on ceasing to be an employee with a
minimum service period of 25 years. No benefits under this scheme are available to any eiiployee who either
resigned from the service or who is dismissed / terminated from the service of the Authority due to misconduct.
Gratuity
The Authority maintains an unfunded gratuity scheme for all its employees who have completed 5 years of
service. An employee is entitled to benefits under gratuity scheme on ceasing to be an employee. No benefits
under this scheme are available to any employee who either resigned from the service or who is dismissed
/
terminated from the service of the Authority due to misconduct.
Compensated absences
The Authority operates an unfunded compensated absence scheme for all contractual employees. Employees who
have completed one year of service with the Authority are entitled to 10 working days earned leaves every year
with maximum limit of 60 days. Further, permanent employees' of the Authority are entitled to encashment of
leave preparatory to retirement (LPR) not exceeding 365 days subject to completion of minimum service of 30
years and availability of leaves.
The Authority makes contributions or record liability in respect of defined benefit plans on the basis of actuarial
valuation, carried out annually by independent actuary.The latest actuarial valuation was carried out as of 30 June
2017. The calculations of actuary are based on the Projected Unit Credit Method, net of the assets guaranteeing
the plan, if any, with the obligation increasing from year to year, in a manner that it is proportional to the length
of service of the employees.
The interest element of the defined benefit cost represents the change in present value of scheme obligations
resulting from the passage of time, and is determined by applying the discount rate to the net defined benefit
liability/(asset).
Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are charged
or credited in other comprehensive income in the year in which they arise.
Past service costs are recognized immediately in profit and loss account.
3.3 Taxation
Income tax expense comprises current and deferred tax. Income tax is recognized in income and expenditure
account.
Current
The Authority accounts for current taxation on the basis of taxable income at the current rates of taxation after
taking into account tax credits and rebates, if any, in accordance with the provisions of the Income Tax
Ordinance, 2001.
3.4 Property and equipment

These are stated at cost, which includes purchase price, import duties and directly attributable costs less
accumulated depreciation and impairment loss, if any. Cost in relation to operating fixed assets comprises
acquisition and other directly attributable costs.
Depreciation charge is based on straight-line method at the rates mentioned in the note 4.1, whereby depreciable
amount of an asset is written off to income and expenditure account over its estimated useful life without taking
into account any residual value. Depreciation is charged on prorated basis from the month in which an asset is
acquired or capitalized, while no depreciation is charged for the month in which the asset is disposed off.
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The cost of replacing part of an item of operating fixed assets is recognized in the carrying amount of the item if
it is probable that the future economic benefits embodied within the part will flow to the Authority and its cost
can be measured reliably. The carrying amount of the replaced part is derecognized. The costs of the day-to-day
servicing of operating fixed assets are recognized in income or expenditure as incurred.
Gains and losses on disposal of an item of operating fixed assets are determined by comparing-the proceeds from
disposal with the carrying amount of operating fixed assets, and are recognized net within "other income" in
income and expenditure account.
Capital work in progress is stated at cost less any identified impairment loss. All expenditure connected with
specific asset incurred during installation and construction period are carried under capital work in progress.
These are transferred to operating fixed assets as and when these are available for use.
3.5 Intangibles
I Intangibles are recognized if it is probable that the future economic benefits that are attributable to the asset will
flow to the enterprise and that the cost of such asset can also be measured reliably. These are stated at cost less
accumulated amortization and impairment losses, if any.
Amortization of intangibles, having finite useful life, is charged by applying straight line method, so as to write
off the cost of assets at amortization rate as mentioned in note 5 to the financial statements.
Subsequent expenditure is capitalized only when it increases the future economic benefit embodied in the
specific asset to which it relates. All other expenditure is recognized in income and expenditure account as
incurred.
3.6 Investments
Investments in subsidiaries
Investments in subsidiaries are initially recognized at cost. At subsequent reporting dates, the recoverable
amounts are estimated to determine the extent of impairment losses, if any, and carrying amounts of investments
are adjusted accordingly. Impairment losses are recognized as expense. Where impairment losses subsequently
reverse, the carrying amounts of the investments are increased to the revised recoverable amounts but limited to
the extent of initial cost of investments. A reversal of impairment loss is recognized in the income and
expenditure account.
3.7 Deferred capital grant

Monetary grant received for capital expenditure is accounted for as deferred capital grant. Amount equal to the
annual charge for depreciation and amortization on operating fixed assets and intangibles so acquired is
recognized as income in the income and expenditure account.
3.8 Trade and other receivables
Trade and other receivable are stated at their amortized value as reduced by appropriate provision for impairment.
Known impaired receivables are written off, while receivables considered doubtful of recovery are fully provided
for.
3.9 Trade and other payables

Liabilities for trade and other payables are carried at amortized value which is the fair value of the consideration
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3.10
1 to be paid in future for goods and services,
Revenue recognition
whether or not billed to the Authority.
The Authority's primary revenue generating activity is registration of citizens of Pakistan and as per clarification
of Ministry of Law and Justice vide its notification No. 259/2008-Law-I dated 30 April 2008, CNICs issued by
the Authority remains property of the Government of Pakistan and the ownership of CNIC does not pass on to the
holder of the CNIC. Therefore, revenue from registration services is recognized upon completion of registration
activity.
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The Authority recognises revenue from service contracts in proportion to the stage of completion of the
transaction at the reporting date. The stage of completion is assessed based on reports from the project teams.
Income on bank deposits is accrued on a time proportion basis by reference to the principal outstanding and at the
effective interest rate applicable.
Dividend income is recognized when the right to receive the payment is established. Foreign currency gains and
losses are reported on a net basis.
3.11 Provisions
A provision is recognized in the balance sheet when the Authority has a legal or constructive obligation as a
result of a past event, and it is probable that an outflow of economic benefits will be required to settle the
obligation and a reliable estimate can be made of the amount of obligation. Provisions are measured at the present
value of expected expenditure, discounted at a pre tax rate that reflects current market assessment of the time
value of the money and the risk specific to the obligation. However, provisions are reviewed at each balance sheet
date and adjusted to reflect current best estimate.
3.12 Foreign currencies

Transactions in foreign currencies are recorded at the rates of exchange prevailing on the date of the transaction.
All monetary assets and liabilities denominated in foreign currencies are translated into Pakistan Rupee at the
rate of exchange ruling on the balance sheet date and exchange differences, if any, are charged to income for the
year.
3.13 Financial instruments
Financial assets and liabilities are recognized when the Authority becomes a party to the contractual provisions of
the instrument. These are derecognized when the Authority ceases to be a party to the contractual provisions of
the instrument. All financial assets and liabilities are initially measured at fair value. These financial assets and
liabilities are subsequently measured at fair value, amortized cost or cost, as the case may be.
3.14 Off-setting of financial assets and liabilities

Financial assets and financial liabilities are offset and the net amount is reported in the balance sheet if the
Authority has a legally enforceable right to set off the recognized amounts and intends either to settle on a net
basis or to realize the assets and settle the liabilities simultaneously.
3.15 Impairment
Financial assets
A financial asset is assessed at each reporting date to determine whether there is any objective evidence that it is
impaired. A financial asset is considered to be impaired if objective evidence indicates that one or more events
have had a negative effect on the estimated future cash flows of that asset. Individually significant financial
assets are tested for impairment on an individual basis. The remaining financial assets are assessed collectively in
groups that share similar credit risk characteristics.
Non financial assets

The carrying amount of the Authority's assets are reviewed at each balance sheet date to determine whether there
is any indication of impairment. If any such indication exists, then the asset's recoverable amount is estimated.
Impairment losses are recognized as expense in the income and expenditure account.
An impairment loss is reversed if there has been a change in the estimates used to determine the recoverable
amount and loss is reversed only to the extent that the asset's carrying amount does not exceed the carrying
amount that would have been determined, net of depreciation or amortization, if no impairment loss had been
recognized.
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3.16 Cash and cash equivalents
Cash and cash equivalents comprise cash in hand and at bank and include short term highly liquid investments
that are readily convertible to known amounts of cash and which are subject to an insignificant risk of change in
I value.
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2018 2017
4.2 Capital work in progress Note Rupees Rupees
Civil works 4.2.1 554,352,091 664,658,906

Other assets 327,513,191 64,126,740
881,865,282 728,785,646
4.2.1 Civil works
Opening balance 664,658,906 404,508,060

Additions during the year 371,785,018 332,627,033
Adjustments during the year - 55,538,034
Transfers during the year (482,091,833) (128,014,221)
Closing balance 554,352,091 664,658,906
5 INTANGIBLES
Computer software - cost

Opening balance 1,057,618,258 1,056,347 046
Additions during the year 1,148,932 L 1,271:212
Closing balance 1,058,767,190 1,057,618,258
Amortization
Opening balance (926,300,985) (i13,745,3801
Charge for the year 19 (99,913.4434)1 112,555,605)
Closing balance (1,026,214,419) (926,300,985)
32,552,771 131,317,273
Rate of amortisation per annum 33.33% 33.33%
6 Investment in Subsidiary
This represents 2,499,997 fully paid ordinary shares of Rs. 10 each held in wholly owned subsidary, NADRA Technologies
Limited, "the Subsidary Company". The break up value of shares amounts to Rs. 182.01 (2017: Rs 176.77) per share based
on latest audited financial statements.
2018 2017
7 TRADE RECEIVABLES Note Rupees Rupees
Considered good 3,055,416,192 2,845,870,165

Considered doubtful 7.1 2,646,001,171 2,544,514,500
5,701,417,363 5,390,384,665
Provision for doubtful receivables (2,646,001,171) (2,544,514,500)
1 3,055,416,192 2,845,870,165
7.1 This includes an amount of Rs. 1,926.888 million (2017: Rs.1,926.888 million) receivable from the Government of Pakistan
(GoP) on account of free issuance of Computerized National Identity Card (CNIC) to citizens of Pakistan pursuant to
announcement made by the Prime Minister of Pakistan in March 2008. The Authority has issued 31,025,176 free CNIC
during the period from March 2008 to 30 June 2013 and has recognized receivable from GoP at Rs. 75 per CNIC. The
authority has not recorded revenue of 830.471 million (Upto 2017 : Rs 700.615 million) in respect of free CNIC issued
during the year. The authority is pursuing the recovery of this amount.
2018 2017
8 ADVANCES Note Rupees Rupees
Considered good
Advances to suppliers and contractors 307,618,426 145,005,526
Advances to staff
- Against expenses 74,846,371 46,534,866
- Against salaries 8.1 114,209,038 166,365,566
189,055,409 212,900,432
496,673,R35 357,905,958
8.1 This represents interest free advances given to employees which are not discounted as per requirements of IAS - 39
"Financial instruments - Recognition and Measurement", since the management believes that the impact would not be
material.
Note 2018 2017

9 ADVANCE TAX - net Rupees Rupees
Opening balance 507,562,920 419,790,920

Charge for the year 22 (557,272,970) (450,784,001)
Tax paid during the year 585,040,473 538,556,001
Closing balance 535,330,423 507,562,920
10 DEPOSITS AND PREPAYMENTS
Deposits 25,396,602 25,641,902

Prepayments 32,888,005 48,646,444
Margin against letter of credit 171,949,901 144,519,740
230,234,508 218,808,086
11 OTHER RECEIVABLES
Receivable against TDP-ERP project 16.2 - 30,003,319

- 30,003,319
12 SHORT TERM INVESTMENTS
Term deposit certificates

Local currency 12.1 20,037,593,601 13,769,611,551
20,037.593,601 13.769,611,551
12.1 These carry interest rates ranging from 6.35% to 7.75% (2017: 5.85% to 6.98%) per annum, having maturity period 3 to 12
months-
2018 2017
13 CASH AND BANK BALANCES Note Rupees Rupees
Cash in hand 54,966,238 23,459,901

Cash in transit 37,099,687 86,081,385
Cash at banks
Deposit accounts
Local currency 4,641,014,164 4,032,904,108
Foreign currency 303,720,321 272,436,636
13.1, 13.3 4,944,734,485 4,305,340,744
Current accounts
Local currency 13.4 862,660,592 398,840,470
Foreign currency 101,085,608 126,347,317
963,746,200 525,187,787
Term deposit certificates
Local currency -
-
Foreign currency - 378,929,621
13.2 - 378,929,621
6,000,546,610 5,318,999,438
13.1 These carry interest rates ranging from 0.2% to 6.50% (2017: 0.1% to 5.50%) per annum.
13.2 These carry interest rates NIL (2017: 2.85%) per annum, having maturity period ranging from one month to three months.
13.3 These include bank balances of Rs NIL (2017: Rs. 295 million) held under lien against various guarantees obtained in the
normal course of operations. Also refer to note 17.1.
13.4 This includes balance of Rs. 34.925 million (2017: 19.615 million) received from International Development Association
(IDA) for Temporary Displaced Person-Emergency Recovery Project (TDP-ERP). Also refer to note 11.2.
2018 2017
14 DEFERRED EMPLOYEES BENEFITS Note Rupees Rupees
Gratuity 14.1 718,818,730 527,932,965
Compensated absences 14.2 1,013,682,975 593,021,6891
1,732,501,705 1,120,954,654
14.1 Gratuity
Amount recognised in balance sheet is as follows:

Present value of defined benefit obligation 718,818,730 527,932,965
Net liability at end of the year 718,818,730 527,932,965
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NOl I S TO THE FINANCIAL STATEMENTS
The movement in present value of defined benefit obligation is as follows:
2018 2017
Rupees Rupees
Opening balance 527,932,965 399,268,387
Charge for the year 129,704,314 96,800,435
Other comprehensive income 66,927,005 39,295,335
Benefits paid during the year (5,745,554) (7,431,192)
Closing balance 718,818,730 527,932,965
Expense recognised in income and expenditure account:

Current service cost 81,136,247 61,268,439
Interest cost 48,568,067 35,531,996
129,704,314 96,800,435
Actuarial assumptions
Valuation discount rate 10.00% 9.25%
Salary increase rate 8.00% 7.25%
Mortality rate SLIC 2001-05 SIC 2001-05
The calculation of the defined benefit obligation is sensitive to assumptions set out above. The following table summarizes
how the impact on the defined benefit obligation at the end of the reporting period would have increased/(decreased) as a
result of a change in respective assumptions by 1%.
Impact on defined benefit obligation

Increase in Increase in
assumption assumption
Rupees Rupees
Discount rate (62,508,650) (65,321,286)
Salary increase 77,827,341 82,052,670
14.2 Compensated Absences

The movement in present value of defined benefit obligation is as follows:
2018 2017
Rupees Ru ees
Opening balance 593,021,689 363,517,157
Charge / (reversal) for the year 485,582,513 275,851,480
Benefits paid during the year (64,921,227) (46,346,948)
Closing balance 1,013682,975 593,021,689
The rates of discount and salary increase were assumed at 11.25% and 11.25% per annum.
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2018 2017
15 TRADE AND OTHER PAYABLES Note Rupees Rupees
Creditors 2,374,117,661 1,976,221,307
Payable to National Highway Authority 15.1 657,981,698 657,981,698
Payable to Ministry of Interior, GoP 15.2 3,983,245 5,628,292
Advance from customers 21,256,707 21,256,707
Payable to M/s MORE (Private) Limited 15.3 '159,355,726 259,355,726
Payable to Government of Punjab 15.4 20,585,139 131,489,254
Payable to Immigration & Passport 3,724,976 2,394,258
Accrued expenses 18,603,907 33,057,818
Withholding tax 9,691,453 4,089,568
Sales tax payable 46,111,669 48,105,700
Other liabilities 31,343,418 50,548,545
Due to subsidiary company 531,374,320 524,517,818
Employees' pension fund 15.5 17,978,300,970 14,315,705,769
21,956,430,889 18,030,352,460
15.1 This represents payable to National Highway Authority (NHA) on account of e-toll collections at toll plazas owned by NHA
and operated by the Authority on M3 motorway.
15.2 This represents payable to Ministry of Interior (Mol) on account of arms license fee collected by the Authority on behalf of
Mol net of the Authority's fee income.
15.3 This represents balance payable to M/s MORE (Private) Limited, a company owned by Frontier Works Organization,
against toll collection of M-2 motorway for the period from February 2015 to July 2015.
15.4 This represents payable to Punjab Government on account of Punjab Arms License project fee collected by the Authority on
behalf of Punjab Government.
2018 2017
15.5 EMPLOYEES' PENSION FUND Rupees Rupees
Present value of defined benefit obligation 31,617,999,101 [ 27,211 69 6,267
Fair value of planned assets (13,639,698131) 12,895,990,498)
Net liability at end of the year 17,978,300,970 14,315,705,769
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The movement in present value of defined benefit

obligation is as follows: 2018 2017
Rupees Rupees
Present value of defined benefit obligation at the beginning of the

year 27,211,696,267 21,864,981,313
Current service cost .A826,114,513 745,927,325
Interest cost 2,874,662,443 1,923,522,435
Past service cost 1,646,826,450
Benefits paid (941,300,572) (774,164,980)
Measurement loss recognised in other comprehensive income
1 _3,451,430,174
Present value of defined benefit obligation at the end of year 31,617,999,101 27,211,696,267
The movement in present value of plan assets

is as follows:
Fair value of plan assets at the beginning of the year
12,895,990,498 413,838,306
Interest income 1,335,724,073 573,872,186
Contributions - 12,699,203,620
Benefits paid (68,395,356) (774,164,980)
Remeasurement loss recognised in other comprehensive income
(523,621,084) (16,758,634)
13,639,698,131 12,895,990,498
The movement in net liability is as follows:
Opening balance 14,315,705,769 21,451,143,007
Charge for the year 2,365,052,883 2,095,577,574
Other comprehensive income 2,170,447,534 3,468,188,808
Payments to fund during the year (12,699,203,620)
Benefits paid (872,905,216)
-
Closing balance 17,978,300,970 14,315,705,769
Expense recognised in income and expenditure account:
Current service cost 826,114,513 745,927,325

Net interest cost 1,538,938,370 1,349,650,249
2,365,052,883 2,095,577,574
Remeasurement loss recognized in Other Comprehensive Income:
Remeasurement loss on defined benefit obligation 1,646,826,450 3,451,430,174

Remaesurement loss on plan assets 523,621,084 16,758,634
2,170,447,534 3,468,188,808
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2018 2017
INote
Plan assets comprise:
Rupees Rupees
Receivable form AGPR 15.5.1 260,685,193 329,080,549

Investments 13,275,761,034 12,256,793,128
Tax Deducted at Source 1,045,975
Cash at Bank )02,205,930
Accrued interest on TDRs 310,116,821
13,639,698,132 12,895,990,498
The pension plan is a defined benefit final salary plan invested through approved trust fund. The trustees of the fund are
responsible for plan administration and investment. The authority appoints the trustees. All the trustees are the employees of
the authority.
The plan exposes the authority to various actuarial risks: investment risk, salary risk and longevity risk from the pension
plan.
2018 2017
15.5.1 Receivable from AGPR Rupees Rupees
Receivable at begining of the year 329,080,549 413,838,306
Benefits received (68,395,356) (84,757,757)
Total receivable at end of the year 260,685,193 329,080,549
15.5.1.1 This represents the amount receivable from Accountant General of Pakistan Revenue (AGPR) on account of pension
payable to the employees who, prior to the establishment of the Authority, were in employment of former Registration
Department of the Federal Government and opted for the employment of the Authority. As per the letter, issued by the
officer of Auditor General of Pakistan, dated 08 February 2001, any portion of the pension amount payable to the individual
employee for the period when respective employee was in employment of former Registration Department of the Federal
Government is to be dealt with in accordance with the instructions contained in Serial No. 45 of the Compendium of
Pension Rules, 1984. These rules state that Federal Government is liable to reimburse to the Authority any amount paid on
account of retirement benefits for the period of employment with the former Registration Department of the Federal
Government. In the light of the said rule, amount is recognised as receivable from AGPR.
2018 2017
Actuarial assumtions
Valuation discount rate 11.25% 10.75%
Salary increase rate 11.25% 10.75%
Pension increase rate 7.50% 7.00%
Mortality rate SLIC 2001-05 SLIC 2001-05
I The calculation of the defined benefit obligation is sensitive to assumptions set out above. The following table summarizes
how the impact on the defined benefit obligation at the end of the reporting period would have increased/(decreased) as a
result of a change in respective assumptions by 1%.
Impact on defined benefit obligation

Increase in Increase in
assumption assumption
Rupees Rupees
Discount rate (4,686,208,007) (3,999,914,986)

Salary increase 2,455,210,271 1,931,480,193
Pension increase 3,742,441,752 3,217,612,929
The impact of changes in assumptions has been determined by revaluation of the obligation on different sets of assumptions.
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2018 2017
16 ADVANCES AGAINST PROJECTS Note Rupees Rupees
Advance against TDP-ERP 16.1, 16.2 33,880,717
I Advance against Safe City Project 16.3 51,525,264

85,405,981
14,933,328
-14.933,328
16.1 The Authority entered into a project implementing agreement with International Development Association (IDA) on 23
September 2015 pursuant to a financing agreement between the Government of Pakistan (GoP) and IDA. Under this
agreement, the objective is to assist the GoP to strengthen the implementation of its Temporary Displaced Person-Emergency
Recovery Project (FATA-TDP ERP). The program consists of three components. Component I is early recovery package for
TDPs, disbursement of cash grants to eligible households in two installment through the commercial banking system are to
be provided. Component 2 relates to promotion of child health in selected areas of FATA, while Compnent 3 is
strengtheninig program management and oversight. The third component is being implemented by the Authority.
The project budget for component 3 is USD 8 million (Rs.837 million) and comprises of the Authority and Economic
Affaris Division (EAD) shares USD 5.5 million and USD 2.5 million respectively.The note 11.2 pertaines to Component 3
and does not cover the other activities of the Program and/or the Authority.
I 16.2 Advance against TDP-ERP
Funds available for project:

Opening Balance 30,003,319 (249,546,425)
Receipts from World Bank (345,742,650)
Advance given by the Authority (1,044,870) (49,618,860)
Total funds available for project (316,784,201) (299,165,285)
Funds utilized for:
Project management cost 232,475,680 211,767,505
Equipment & office facilities 49,382,935 [ 67,782239
Total funds utilized 281,858,615 279,549,744
Closing designated account balance (34,925,587) (19,615,541)
Expenditure paid by the Authority 1,044,870 49,618,860
(Payable) /Receivable against TDP-ERP Project 15 ( 30,003,319
16.3 Advance against safe city project

Opening balance 14,933,328 93,639,838
Receipts from Huwaei Technologies 62,471,800 25,435,000
Operational expenses for the year (25,879,864) (104,141,510)
51,525,264 14,933328
The Authority received Rs. 62.4 million (2017: Rs 25.4 million) from M/s Huawei Technologies Company Limited against
operations of Safe City Islamabad. During the year an amount of Rs. 25.879 million (2017: Rs. 104.141 million) relating to
certain operational expenses of the project has been adjusted against this advance. Certain other operational and maintenance
charges relating to Safe City Islamabad are also being paid by the Authority upon instructions of the Ministry of Interior.
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3 17 CONTINGENCIES AND COMMITMENTS

2018
Rupees
2017
Rupees
17.1 Contingencies
17.1.1 In respect of bank guarantees 17,130,000 314,976,150
17.1.2 A number of cases have been filed against the Authority primarily involving service matters of employees. Because of the
large number of cases and their uncertain nature, it is not possible to quantify their fintial impact at present.
I 17.1.3 Also refer note 22.2 to 22.5 for contingencies related to taxation matters.
2018 2017
17.2 Commitments Note Rupees Rupees
In respect of letters of credit 487,407.643 1,229,766,339
18 TURNOVER
Operational Revenue 18.1 21,513,376,950 18,975,024,478

Project revenue 18.2 1,936,872,406 2,074,601,196
23,450,249,356 21,049,625,674
18.1 Operational Revenue

Local Operations 17,579,948,928 14,934,978,789
Services performed outside Pakistan 3,933,428,022 4,040,045,689
21,513,376,950 18,975,024,478
18.2 Project revenue

Local projects 1,857,360,279 1,857,178,500
Foreign projects 79,512,127 217,422,696
1,936,872,406 2,074,601,196
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2018 2017
19 EXPENDITURE Note Rupees Rupees
Salaries, wages and other benefits 19.1 11,915,360,954 10,268,204,973
Cost of projects executed 171,067,151 221,053,861
Material consumed 1,981,503,132 1,406,700,569
Stores and spares consumed 270,755,853 200,821,555
Printing 5,029,270 6,713,666
Repair and maintenance -"463,682,993 416,940,044
Traveling and conveyance 189,756,361 116,612,526
Communication 164,047,327 203,076,041
Utilities 260,463,126 215,911,871
Postage and courier 307,789,862 328,392,820
Rent, rates and taxes 575,068,442 467,975,168
Marketing and promotion 50,731,982 80,310,642
Security charges 97,156,421 106,486,894
Fuel and lubricants 219,610,377 190,718,048
Legal and professional 17,471,153 15,111,406
Employees training 7,299,330 6,083,813
Fee and subscription 8,854,714 26,940,410
License fee 4,220,018 23,844,352
Newspapers, books and periodicals 1,694,130 1,959,906
Commission 175,039 1,563,554
Insurance 4,101,080
-
Depreciation 4 816,670,077 7i6,702,397
Amortization 5 99,913,434 112,505,992
Provision for doubtful receivables 101,486,671 121,821,140
Auditors' remuneration 989,000 989,000
Expenses on Services Performed Outside Pakistan 19.2 322,385,894 322,762,787
Others 94,787,819 44,977,413
18,152,071,610 15,625,180,848
19.1 Salaries, wages and other benefits include staff retirement benefits - pension amounting to Rs. 2,365.053 million (2017 : Rs.
2,095.577 million), staff retirement benefits - gratuity Rs. 129.704/- million (2017: Rs. 96.800 million) and compensated
absences Rs. 485.582/- million (2017: Rs. 275.85 million).
19.2 This includes depreciation of Rs. 2,265,245/- (2017: Rs. 2,455,520)
20
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FINANACE COST
2018
Rupees
2017
Rupees
Bank charges 105,972,943 86,851,423
Exchange (Gain) / Loss-net (139,182,555) 30,386,718
Markup to subsidiary company - 20,391,275
(33,209,612) 137,629,416
M
21 OTHER INCOME
Income from financial assets
Profit on deposit accounts and term deposit certificates 1,282,675,067 952,205,788
Markup from subsidiary company - 6,551,915
Income from non-financial asses

Gain on sale of operating fixed assets 58,226,059 82,986,381
Others 38,329,855 29,732,647
1,379,230,981 1,071,476,731
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2018 2017
22 TAXATION Note Rupees Rupees
Current 22.1 557,272,970 450,784,001
557,272,970 450,784,001
22.1 Numerical reconciliation between tax expense and accounting profit has not been presented as provision for current years
income tax has been made under section 113 of the Income tax Ordinance, 2001.
22.2 The Authority has unused accumulated tax losses as on 30 June 2018 amounting to Rs. 9,210 million (2017: Rs. 9,859
million). However, in view of uncertainty about future taxable profits no deferred tax asset has been recognized. The
Authority incurred tax losses because of the tax on services rendered outside Pakistan, which comprise major portion of the
net profit, is subject to final tax regime (FTR).
22.3 The Authority has filed an appeal under section 34 of the Federal Excise Act, 2005 to the Appellate Tribunal Inland
Revenue (ATIR) Islamabad against the order of the Commissioner (Appeals) regarding the levy of the federal excise duty
amounting to Rs. 395.344 million on services provided by the Authority. ATIR has not yet fixed the case for hearing. The
management believes that the matter will be decided in favor of the Authority.
22.4 The tax authority amended the assessment of the Authority through order dated 30 November 2016 under section 122(5A)
of the Income Tax Ordinance, 2001 for the Tax Year 2015. The tax authority made disallowances on account of pension of
Rs. 2,852,501,529, other expenses of Rs. 36,627024 and proceeded to charge super tax amounting to Rs. 171,122,987. The
tax authority also curtailed refunds of Rs. 121,670,051 claimed by the Authority in its tax return for Tax Year 2015 and did
not allow the brought forward losses available to it. Against the order of tax authority, the Authority filed appeal with the
Commissioner Inland Revenue (Appeals), and simultaneously moved rectification application with the tax authority. While
disposing of the rectification application, the tax authority allowed partial relief to the Authority. In terms of rectification
order, the revised tax liability worked out to Rs. 368,911,486, after incorporating the brought forward losses. During the
year, Commissioner Inland Revenue (Appeals) through order dated 23 December 2016 allowed credit of assessed brought
forward losses from Tax Year 2014 however upheld the decision in respect of aforementioned disallowances. The Authority
has filed an appeal with Appellate Tribunal Inland Revenue, Islamabad against the said Order. The management believes
that disallowances are unjustified and accordingly chances of favorable outcome are high. Accordingly, no provision has
been recognized in the financial statements.
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22.5 The tax authority passed an Order-in-Original No. 22/73 of 2016 dated 30 June 2016 under section II of the Sales Tax Act,
1990. In terms of the order, the tax authority charged sales tax on services of Rs. 79,472,948 along with default surcharge
and penalty on alleged non-charging of sales tax on provision of verisys services. Authority filed appeal against the Order-in-
Original before Commissioner Inland Revenue (Appeals) which upheld the Order-in-Original. The Authority filed appeal
before Appellate Tribunal Inland Revenue which has partially remanded back the case to the taxation authorities and for the
rest of the matter authority has filed a reference before Islamabad High Court. No further proceeding has taken place till date.
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\ %TIONALDATABASE AND REGISTRATION AUTHORITY
23 TRANSACTIONS WITH RELATED PARTIES
The Authority is governed by the Ministry of Interior, Government of Pakistan (GoP). Therefore, all departments and
agencies controlled by the GoP ("State-controlled entities") are related parties of the Authority. Other related parties
comprise subsidiary authority, members of board of members and their close family members, companies with common
directorship and key management personnel. The Authority in normal course of business pays for electricity, gas and
telephone to entities controlled by Government of Pakistan which are not material, hence not disclosed in these financial
statements. Balances with related parties are shown elsewhere in the notes to the financial statements. Transactions with
related parties are as follows:
2018 2017
Subsidiary Company Rupees Rupees
Funds transferred 112,000,000 9,000,000
Markup earned on advances - 6,551,915
Markup expense on payable 41,176,046 20,391,275
Expenditure incurred for the Subsidiary Company 100,000 126,923,182
Revenue share transferred 12,893,070 115,034,630
Transfer of assets from Subsidary Company - 674,179,343
Adjustment of advances to employees 1,104,354 2,653,633
Monetized vehicle adjustment 4,914,246 14,644,411
Advance income tax witheld of the Subsidiary Company 3,433,193 8,712,773
Sales tax deducted 62,301,917
-
Transactions with Government Organizations
I Government of Pakistan
Receivable balance as at year end 1,926,888,200 1,926,888,200
2 National bank of Pakistan

Bank balances as at year end 61,533,589 63,121,492
Investments made during the year 610,250,000 400,000,000
Investments matured during the year - 400,000,000
3 MORE Private Limited

Payable balance as at year end 259,355,726 259,355,726
4 National Highway Authority
Services provided during the year -
-
Receivable balance as at year end 308,470,221 308,470,221
5 Election Commission of Pakistan

Services provided during the year 39,000,662 39,000,662
6 Ministry of Interior
Services provided during the year - 56,413,843
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2018 2017
Rupees Rupees
7 Government of Punjab
8 Government of Sindh
Services provided during the year ,,50,000,000 30,323,443
9 Benazir Income Support Programme

10 Immigration and Passport Department

11 Excise and Taxation Department

12 National Health Services

13 Transactions with key management personnel

Key management personnel 224,920,430 152,821,176
The aging of receivables from related parties at the reportingdate was:
Past due Past due Pa O Impaired
0-30 days 31-60 days 61-90 days balance
------ (Amount in Rupees)--------
30 June 2018 ______ _______________ ______
Government of Pakistan 1,926,888,200 - - ,926,888,2U ([,926,888,200)

National Highway Authority 308,470,221 - - - 308,470,221-
Election Commission of Pakistn 130,175,327 269,552 - - 129,905,775
775,382,058 (101,772,075)
12,891 909
Government ofSindh 90,000,000 - 10,028,937
- - 90,000,000 (90,000,000)
6,918,771
Bnazir Income Support Programe 805,221,675
317,095,851 140,815,492 - 176,280,359
-
Passport Department
Immigration and
3,577,851,274 148,003,815 10,028,937 12,891,909 3,406,926,613 (2,118,660,275)
30 June 2017
Govemment of Pakistan 1,926,888,200 - - - 1,926,888,200 (1,926,888,200)
National Highway Authority 308,470,221 - - - 308,470,221
-
Election Commission of Pakistan 130,175,327 269,552 - 129,905,775 (101,772,075)

Govenment of Sindh 90,000,000 - - - 90,000 (90,000,000)
Benazir Income Support Programme 402,149,676 76,913,449 17,369,005 17,369,005 290,498,217
-
Immigration and Passport Department 745,455,895 15,624,256 - - 729.831,639

-
3,603,139,319 i92,807,257 17,369,005 17,369,005 3,475,594,052 (2,118,660,275)i
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The aging ofreceivables from related parties at the reporting date was:
Past due Past due Past due Over 90 days Impaired

Total
0-30 days 31-60 days 61-90 days balance
-----------(Amountin Rupees)-
30 June 2018
Government of Pakistan 1,926,888,200 - - - 1,926,888,200 (1,926,888,200)
National Highway Authority 308,470,221 - - 308,470,221
Election Commission of Pakistan 130,175,327 269,552 - - 129,905,775 (101,772,075)
Government of Sindh 90,000,000 - - - 90,000,000 (90,000,000)
Benazir Income Support Programme 317,095,851 140,815,492 - 176,280,359
-
Immigration and Passport Department 805,221,675 6,918,771 10,028937 12,891,909 775,382,058
3,577851274 148,003,815 10 1I 937 12,891,909 3,406,926,613 (1 18,660,275)
30 June 2017 ____ _ __ ___ ____ ___

Government of Pakistan 1,926,888,200 - - - 1,926,888,200 (196,8200)
National Highway Authority 308,470,221 - - - 308,470,221
Election Commission of Pakistan 130,175,327 269,552 - - 129,905,775 (01,77z,075
Government of Sindh 90,000,000 - - 90,000,000 (90,000,000)
Benazir Income Support Programme 402,149,676 0,913,449 17,369,005 17,369,005 290,498,217
Immigration and Passport Department 745,455,895 15.624,256 - - 729,831,639
3,6013139,319 92,807,257 1?,369,005 17,369,005 3,475,594,052 (2,118,660,275)
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1
24 FINANCIAL RISK MANAGEMENT
The Authority has exposure to the following risks from its use of financial instruments:
Credit risk
I Liquidity risk
Market risk
The Board of Authority ("the Board") has overall responsibility for the establishment and oversight of the
Authority's risk management framework. The Board is also responsible for developing and monitoring the
Authority's risk management policies.
The Authority's risk management policies are established to identify and analyze the risks faced by the
Authority, to set appropriate risk limits and controls, and to monitor risks and adherence to limits. Risk
management policies and systems are reviewed regularly to reflect changes in market conditions and the
Authority's activities. The Authority, through its training and management standards and procedures, aims to
develop a disciplined and constructive control environment in which all employees understand their roles and
obligations.
The Board oversees how management monitors compliance with the Authority's risk management policies and
procedures, and reviews the adequacy of the risk management framework in relation to the risks faced by the
Authority.
24.1 Credit risk
Credit risk is the risk of financial loss to the Authority if a customer or counterparty to a financial instrument
fails to meet its contractual obligations. The carrying amount of financial assets represents the maximum credit
exposure. The maximum exposure to credit risk at the reporting date is as follows:
2018 2017
Rupees Rupees
Trade receivables 5,701,417,363 5,390,384,665
Deposits 25,396,602 25,641,902
Margin against letter of credit 171,949,901 144,519,740
Accrued interest 134,851,089 96,446,742
Short term investments 20,037,593,601 13,769,611,551
Cash and bank balances 6,000,546,610 5,209,458,152
32,071,755,166 24,636,062,752
The maximum exposure to credit risk for receivable from customers at the reporting date by geographical region
is:
I 2018
Rupees
2017
Rupees
Domestic 5,587,826,699 5,284,733,315
African countries 109,523,651 102,405,314
Asia - other than domestic 4,067,013 3,246,036
5,701,417,363 5,390,384,665
I
The maximum exposure to credit risk for receivable from customers at the reporting date by type of customer is:
I 2018
Rupees
2017
Rupees
Receivable from Government
Local 3,599,735,462 4,332,348,459
Foreign 84,490,302 105,651,350
Receivable from other than Government
Local 2,017,191,599 952,384,856
5,701,417,363 5,390,384,665
I Impairment losses
The aging of receivable from customers at the reporting date is:
Gross Impairment Gross Impairment
2018 2018 2017 2017
Rupees Rupees Rupees Rupees
Past due 0-30 days 1,192,701,967 - 1,142,606,601
Past due 31-60 days 20,322,659 - 17,369,010
Past due 61-90 days 70,062,659 - 56,991,465
Over 90 days 4,418,330,078 (2,646,001,171) 4,173,417,589 (2,544,514,500)
5,701,417,363 (2,646,001,171) 5,390,384,665 (2,544,514,500)
The movement in the allowance for impairment in respect of receivable from customers during the year was as
follows:
I 2018 2017
Impairment allowance Rupees Rupees
Opening balance 2,544,514,500 2,422,693,360

Provision for the year 134,456,671 192,054,254
Reversal for the year (32,970,000) (70,233,114)
Closing balance 2,646,001,171 2,544,514,500
The allowance account in respect of receivable from customers is used to record impairment losses unless the
Authority is satisfied that no recovery of the amount owing is possible. The amount considered irrecoverable is
written off against the financial asset directly.
24.1.1 Credit quality of financial assets
The credit quality of Authority's financial assets have been assessed below by reference to external credit rating
of counterparties determined by the Pakistan Credit Rating Agency Limited (PACRA) and JCR - VIS Credit
Rating Company Limited (JCR - VIS). The counterparties for which external credit ratings were not available
have been assessed by reference to internal credit ratings determined based on their historical information for
any default in meeting obligations.
I

2018 2017
Rating Rupees Rupees
Trade Debts
Counterparties without external credit ratings
I Existing customers with no default in the past 5,701,417,363 5,390,384,665
Deposits
Counterparties without external credit ratings 25,396,602 25,641,902
Other receivables
Receivable from related parties - 30,003,319
Margin against letter of credit

1 Counterparties with external credit ratings Al+ 171,949,901 144,519,740
Accrued interest
Counterparties with external credit ratings
Al+ 79,820,478 52,237,921
A-1 4,496,403 13,470,057
A-2 50,534,208 30,738,764
134,851,089 96,446,742
Short term investments

Counterparties with external credit ratings Al__15,481,201,493 11,134,709,664
Al+ 15,481,201,493 11,134,709,664
A-1 2,899,460,939 1,328,096,408
A-2 1,656,931,169 1,306,805,479
20,037,593,601 13,769,611,551
Cash and cash equivalents

Counterparties with external credit ratings
Al+ 5,298,560,057 4,806,768,742
Al 380,088,230 204,617,537
A-2 69,405,412 940,017

Foreign banks with no default in the past 252,492,911 196,684,987
Local banks - 446,870
6,000,546,610 5,209,458,153
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24.2 Liquidity risk
Liquidity risk is the risk that the Authority will not be able to meet its financial obligations as they fall due. The
Authority's approach to managing liquidity is to ensure, as far as possible, that it will always have sufficient
liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring
unacceptable losses or risking damage to the Authority's reputation. The following are the contractual maturities
of financial liabilities, including expected interest payments and excluding the impact of netting agreements:
Carrying amount Contractual cash One year Two years
I- Financial liabilities
flows
Rupees
onward
Trade and other

payables 3,901,070,090 3,901,070,090 3,901,070,090
2018
Trade and other

payables 3,641,194,716 3,641,194,716 3,641,194,716
2017 3,641,194,716 3,641,194,716 3,641,194,716
24.3 Market risk
Market risk is the risk that the value of the financial instrument may fluctuate as a result of changes in market
interest rates or the market price due to change in foreign exchange rates, interest rates and credit rating of the
issuer or the instrument, change in market sentiments, speculative activities, supply and demand of securities
and liquidity in the market. The Authority is exposed to currency and interest rate risk only.
24.3.1 Currency risk
Currency risk is the risk that changes in foreign exchange rates will affect the Authority's income or the value of
its holdings of financial instruments. The objective of currency risk management is to manage and control
currency risk exposures within acceptable parameters, while optimizing the return on financial instruments.
Exposure to foreign currency risk

Currency 2018 2017
Euro
Cash and cash equivalents FUR 909,576 71,437
USD
Cash and cash equivalents USD 2,050,169 877,394
GBP
Cash and cash equivalents GBP 831,085 3,893,995
I
The following significant exchange rates applied during the year:

Average rate Year end spot rate
2018 2017 20J8 2017
Rupees /Euros 149.10 114.17 142.10 119.63

121.66 104.80
I Rupees / Dollars
Rupees / Pounds
124.14
166.61
104.80
132.82 160.62 136.24
Sensitivity analysis
A five percent strengthening of the Pakistani ruppee against foreign currency at 30 June 2018 would have
increased income and expenditure account by the amounts shown below. This analysis assumes that all other
variables, in particular interest rates, remain constant. This analysis is performed on the same basis for 30 June
2017.
Income or
Expenditure
I EURO
30 June 2018
Rupees
Effect in Euro - loss (6,462,537)
30 June 2017
Effect in Euro - loss (427,313)
USD
30 June 2018
Effect in US Dollar - loss (12,471,178)
30 June 2017
Effect in US Dollar - loss (4,597,745)
GBP
30 June 2018
Effect in GBP - loss (6,674,444)
30 June 2017
Effect in GBP - loss (56,525,251)
A five percent weakening of the Pakistani rupee against foreign currency at 30 June 2018 would have had the
equal but opposite effect on the above currencies to the amounts shown above, on the basis that all other
variables remain constant.
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24.3.2 Interest rate risk
The interest rate risk is the risk that the fair value or the future cash flows of a financial instrument will fluctuate
because of changes in market interest rates. Majority of the interest rate exposure arises from short and long
term borrowings from banks and short term deposits with banks. At the balance sheet date the interest rate
profile of the Authority's interest bearing financial instruments is:
Carrying Amount
2018 2017
Rupees Rupees
Variable rate instruments
Financial assets
Due (to) / from Subsidiary Company (531,373,210) (524,517,818)
(531,373,210) (524,517,818)
Fair value sensitivity analysis for fixed rate instruments
The Authority does not account for any fixed rate financial assets and liabilities at fair value through income or
expenditure, and the Authority does not have derivatives as hedging instruments recognized under fair value
hedge accounting model. Therefore, a change in interest rates at the reporting date would not affect income or
expenditure.
Cash flow sensitivity analysis for variable rate instruments
A change of 100 basis points in interest rates throughout the year would have increased / (decreased) income or
expenditure by the amounts shown below. This analysis assumes that all other variables, in particular foreign
currency rates, remain constant. The analysis is performed on the same basis for 30th June 2017.
Income or expenditure
100 basis points 100 basis points
increase decrease
Rupees Rupees
Cash flow sensitivity (net)
Variable rate instruments (53,137,321) 53,137,321
30 June 2018
Variable rate instruments (52,451,782) 52,451,782

30 June 2017 (52,451,782) 52,451,782
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ONALDATABASE AND RI T RATION A I TOR] VI
NOTES TO TE FIN ANCIAI STATEMEVNTS
24.4 Fair value of financial assets and liabilities
Fair value hierarchy

the 1 fair and financial liabilities, including their in the fair
Carrvin amount Fair Value
Loans and Held to maturity Other Financial Total Level Level Level Total
receivables Liabilities I 2 3
Note Rupees Rupen
30 June 2018
Financial assets not measured at fair value
Trade receivables 7 3,055,416,192 - - 3,055,416,192 - - -
-
Advances to staff 8 189,055,409 - - 189,055,409 - - -
-
Deposits 10 25,396,602 - - 25,396,602 - - -
-
Margin letter of credit 10 171,949,901 - - 171,949,901 - - -
-
Accrued intest134,851,089 - - 134,851,089 - - -
-
Short term investments 12 - 20,037,593,601 - 20,037,593,601
Cash and bank balances 13 6,000,546,610 - - 6,000,546,610 - - -
-
Current maturity of TDRs 13 - - - - - -
-
Total 9,577,215,803 20 037,593 601 - 29 614 809 404
Financial liabilities not measured at fair value
Trade and other payables 15 - - 3,901,070,090 3,901J070,090 - -
-
Total -3- .90070090 3,901,070,090 -
30 June 2017
Financial assets not measured at fair value
Non Current Assets Helf for Sale 6 25,000,000 - - 25,000,000 - - -
-
Trade receivables 7 2,845,870,165 - - 2,845,870,165 - - -
-
Advances to staff 8 212,900,432 - - 212,900,432 - - -
-
Deposits 10 25,641,902 - - 25,641,902 - - -
-
Margin against letter of credit 10 144,519,740 - - 144,519,740 - - -
-
Accrued interest 96,446,742 - - 96,446,742 - -
-
Short term investments 12 - 13,769,611,551 - 13,769,611,551
Cash and bank balances 13 4,830,528,531 - - 4,830,528,531 - -
-
Current maturity of TDRs 13 - 38,929,61
9 ,378,929,621 -
-
Total 8,180,907,512 14,148,541,172- 22,329,448,684 - -

-
Financial liabilities not measured at fair value
Trade and other payables 15 - - 3,641,194,716

31194, 716 - -
-
Total -- 3,641194,716 3,641 194,716 - -

-
The table analyses financial instruments carried at fair value, by valuation method. The different levels have been defined as follows:
Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities
Level 2: inputs other than quoted prices included within Level I that are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e.
derived from prices)
Level 3: inputs for the asset or liability that are not based on observable market data (unobservable inputs).
Transfer between levels of the fair value hierarchy are recognised at the end of the reporting period during which the changes has occurred.
INOTES
TO THE FINANCIAL STATEMENTS
25 FUND MANAGEMENT
The Authority's Board policy is to maintain a strong fund base so as to sustain future development of the
business. There were no changes to the Authority's approach to fund management during the year and the
Authority is not subject to externally imposed fund requirements.
J 26 DATE OF AUTHORIZATION
These financial statements were authorized for issue on December 21, 2018.
I 27 GENERAL
Figures have been rounded off to the nearest Pakistani rupee.
I
I
CHAIRMAN SECRETARY
I
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Public Disclosure Authorized

AUDITED FINANCIAL STATEMENTS

I FOR THE YEAR ENDED

JUNE 30, 2018

AUDITORS' REPORT TO THE MEMBERS OF

The engagement partner on the audit of NATIONAL DATABASE AND REGISTRATION

EQUITY AND LIABILITES

Contingencies and commitments 17

The annexed notes I to 27 form an integral part of these financial statements.

Turnover 18 23,450,249,356 21,324,393,538

Expenditure 19 (18,152,071,610) (15,899,948,712)

Operating Profit 5,298,177,746 5,424,444,826

Finance cost 20 33,209,612 (137,629,416)

Other income 21 1,379,230,981 1,071,476,731

Surplus before taxation 6,710,618,339 6,358,292,141

Taxation 22 (557,272,970) (450,784,001)

Surplus for the year 6,153,345,369 5,907,508,140

The annexed notes 1 to 27 form an integral part of these financial statements.

1 Surplus for the year 6,153,345,369 5,907,508,140

I Other comprehensive income

Remeasure loss on employee retirement benefit plans:

1 Total comprehensive income for the year 3,915,970,830 2,400,023,997

The annexed notes 1 to 27 form an integral part of these financial statements.

1 STATEMENT OF CASH FLOW

Surplus before taxation 6,710,618,339 6,358,292,141

I Income tax paid

Cash flows from investing activities

I Additions to property and equipment

Cash flows from financing activities

Net (decrease) / increase in cash and cash equivalents 681,547,172 (11,564,877,291)

The annexed notes 1 to 27 form an integral part of these financial statements.

Balance at 01 July 2016 6,526,184,887

I Surplus for the year 5,907,508,140

I Balance at 30 June 2017 8,926,208,884

I Balance at 01 July 2017 8,926,208,884

Surplus for the year 6,153,345,369

Balance at 30 June 2018 12,842,179,714

The annexed notes I to 27 form an integral part of these financial statements.

fl4 CHAIRMAN SECRETARY

1 LEGAL STATUS AND NATURE OF OPERATIONS

2.2 Basis of measurement

2.3 Functional and presentation currency

2.4 Significant estimates and judgments

I NOTES TO THE FINANCIAL STATEMENTS

(d) Provision of staff retirement benefits

(e) Provisions and contingencies

3.4 Property and equipment

I NOTES TO THE FINANCIAL STATEMENTS

3.7 Deferred capital grant

3.9 Trade and other payables

3.12 Foreign currencies

3.14 Off-setting of financial assets and liabilities

Non financial assets

ам юм 'л оС ёы -с ов тл мх, о. . .с , ,.'. . Ия, .-а оаа .м

Civil works 4.2.1 554,352,091 664,658,906

4.2.1 Civil works

Opening balance 664,658,906 404,508,060

30 June 2018 ___

30 June 2017 ____ _ _ __ _