Purchase of 350 KV Generator for EOBI Head Office

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 Purchase of 350 KV Generator for EOBI Head Office

The Board of Trustees in its 125th meeting held on 19th February, 2022 decided the
following on the issue of Generator:
“if M/s Cummins Sales & Services agrees to payment of Principal amount along
with interest at the rate of KIBOR+2% 12. w.e.f 17-05-2011 to the date of payment
of Principal, the issue may be settled.”

The directives of Board of Trustees were forwarded to M/s Cummins Sales &
Service vide letter No. HO/GAD/Generator/2022/1772 dated: 12th April, 2022
through S.Abid Shirazi & Co

In response of the BoT directives, M/s Cummins Sales & Service shares the
following two options;
i. M/s Cummins Sales & Service may supply a new Genset having the same
specifications.
ii.M/s Cummins Sales & Service may pay sum of Rupees Seventy Two Lacs
equivalent to present market values of Genset Generator.
11.Calculation according to 125th BoT decision is as under;
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 Purchase of 350 KV Generator for EOBI Head Office

3-Year KIBOR Simple Interest Total(Prinicpal+Mark

Mark up Till 23-Aug-
Dated Amount Paid Dated up)
2022
17-Mar-11 4,935,200 17-Mar-11 17-Mar-14 17-Mar-17 17-Mar-20 23-Aug-22
16.44 13.95 8.69 14.04
2,436,264 2,067,267 1,287,782 1,687,644 7,478,956 12,414,156

3-Year KIBOR Compound Interest Total(Prinicpal+

Dated Amount Paid Dated Mark up Till 23-Aug-2022 Markup)
17-Mar-11 4,935,200 17-Mar-11 17-Mar-14 17-Mar-17 17-Mar-20 23-Aug-22
16.44 13.95 8.69 14.04
7,794,575 11,536,945 14,816,947 20,856,516
Mark up Amount 2,859,375 3,742,370 3,280,002 6,039,569 15,921,316 20,856,516

Decision Solicited:
The Board may deliberate on the issue and decide

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