Transmission of Quarterly Financial Statements for the Period Ended December 31,2025

Company Information 2

Directors' Report 3

Independent Auditors' Review Report 4

Condensed Interim Statement of Financial Position 5

Condensed Interim Statement of Profit or Loss 7

Condensed Interim Statement of Comprehensive Income 8

Condensed Interim Statement of Cash Flows 9

Condensed Interim Statement of Changes in Equity 10

Selected Notes to the Condensed Interim Financial Statements 11

‌Half Yearly Accounts December 31 , 2025

02 Pervez Ahmed Consultancy Services Ltd.

‌Half Yearly Accounts December 31 , 2025

DIRECTORS' REPORT

On behalf of the Board of Directors of Pervez Ahmed Consultancy Services Limited, we are pleased to present the unaudited financial statements of the Company for the half-year ended December 31, 2025

Financial Results of the Company

For the six-month period ended December 31, 2025, the Company reported an operating loss of Rs. 900,264, compared to a loss of Rs. 918,293 for the corresponding period last year. The net profit for the half-year ended December 31, 2025, amounted to Rs. 11,086,781, as against Rs. 9,027,051 for the same period last year. Earnings per share for the six months ended December 31, 2025, were Rs. 0.059, compared to Rs. 0.048 per share for the corresponding period last year.

The auditor has issued an adverse opinion in the audit report concerning the going concern assumption and the ongoing litigations against the Company in various courts. However, management is actively working to address these issues and stabilize the Company's operations.

Future Outlook

The Company is struggling in its business operations and did not secure any new business during the period. However, management is making efforts to improve operations and achieve better results. Unfortunately, the country's economic conditions have made it difficult to do so.

Acknowledgement

The Board is thankful to its valued shareholders for their confidence in the Company, its clients, the Securities & Exchange Commission of Pakistan and to the management of Pakistan Stock Exchange Limited for their valuable support, assistance and guidance.

For & on behalf of the Board

Lahore

February 25, 2026

Ayesha Ahmed Mansoor

Ali Pervez Ahmed

Director Chief Executive

03 Pervez Ahmed Consultancy Services Ltd.

‌Half Yearly Accounts December 31 , 2025

INDEPENDENT AUDITOR'S REVIEW REPORT

To the members of PERVEZ AHMED CONSULTANCY SERVICES LIMITED

Report on review of Condensed Interim Financial Statements

Introduction

We have reviewed the accompanying condensed interim statement of financial position of PERVEZ AHMED CONSULTANCY SERVICES LIMITED as at December 31, 2025 and the related condensed interim statement of profit or loss, condensed interim statement of comprehensive income, condensed interim statement of changes in equity and condensed interim statement of cash flows together with the selected notes forming part thereof, for the six month period then ended (hereinafter referred to as the "condensed interim financial statements"). Management is responsible for the preparation and presentation of the condensed interim financial statements in accordance with accounting and reporting standards as applicable in Pakistan. Our responsibility is to express a conclusion on these condensed interim financial statements based on our review.

Scope of Review

We conducted our review in accordance with the International Standard on Review Engagements 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity". A review of condensed interim financial statements consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Basis for Adverse Conclusion

We believe that the procedures we have performed are sufficient and appropriate to provide a basis for our adverse conclusion and we report that:

1. As referred to in note 2.2 to the condensed interim financial statements, the Company has accumulated losses of Rs. 1,611.083 million as on December 31, 2025. Its current liabilities exceed current assets by Rs. 646.168 million as on that date. Further, the Company has had no notable operating activity since the Trading Rights Entitlement Certificate issued to the Company became inactive due to inadequate net capital balance and the Company has been placed on defaulters' segment by Pakistan Stock Exchange. Further, as fully explained in note 9.1.3 to the financial statements, the Additional Registrar of Companies ['ARC'], Securities and Exchange Commission of Pakistan has filed a petition in the Lahore High Court against the Company and its directors whereby the ARC has prayed that the affairs of the Company be declared as being conducted in an unlawful manner which is prejudicial to the shareholders, and that the Company and its Directors be ordered to buy back the shares of the minority shareholders at a price to be determined in accordance with the Rule Book of Pakistan Stock Exchange Limited and that the directors be held responsible for not conducting the brokerage business as envisaged in the memorandum of association of the Company. Furthermore, the consequential cumulative effect of matters pending under litigations as explained in notes 9.1.1 and

   9.1.2 to the financial statements also cannot be determined with certainty at this stage.

   04 Pervez Ahmed Consultancy Services Ltd.

   ‌Half Yearly Accounts December 31 , 2025

   These factors indicate existence of material uncertainty that may cast significant doubt about the Company's ability to continue as a going concern. We consider that in the absence of any favorable settlement with the providers of debt finances/creditors and its ability to obtain further financing for revival of its operations, the Company may not be able to settle its liabilities and realize its assets in the normal course of business. Consequently, the use of going concern assumption in the preparation of annexed condensed interim financial statements is not appropriate and adjustments may be required to the recorded asset amounts and classification of liabilities. The condensed interim financial statements do not disclose this fact.

2. The bankers of the company have filed a suit before the Lahore High Court for the recovery of outstanding debt finances as explained in note 9.1.2 to the condensed interim financial statements. The Company has not recognized mark up on the above said debt finances. As the matter is under litigation, the resultant liability has not been provided for in these condensed interim financial statements.

3. As referred to in note 9.1.1 to the condensed interim financial statements, one of the creditors of the Company filed a suit against the Company for the recovery of Rs. 36.57 million including late payment surcharge amounting to Rs. 17.45 million. The Company has not made provision for late payment surcharge of Rs. 17.45 million as the legal counsel of the company is confident about the positive outcome of the case. Due to the matter under litigation the consequential cumulative effect has neither been determined nor adjusted in these condensed interim financial statements.

   Adverse Conclusion

   Based on our review, because of the significance of the matter described in the Basis for Adverse Conclusion paragraph above, the accompanying condensed interim financial statements are not prepared, in all material respects, in accordance with accounting and reporting standards as applicable in Pakistan for interim financial reporting.

   Other Matter

   Pursuant to the requirement of Section 237 (1) (b) of the Companies Act, 2017, only cumulative figures for the half year, presented in the second quarter accounts are subject to a limited scope review by the statutory auditors of the company. Accordingly, the figures of the condensed interim statement of profit or loss and condensed interim statement of comprehensive income for the three months period ended December 31, 2025 have not been reviewed by us.

   The engagement partner on the review resulting in this independent auditor's review

   
   
   

   RIZWAN AND COMPANY

   Chartered Accountants

   Date: FEBRUARY 25, 2026

   Place: Islamabad

   UDIN: RR202510101b3gPShxQF

   05 Pervez Ahmed Consultancy Services Ltd.

   ‌Half Yearly Accounts December 31 , 2025

   PERVEZ AHMED CONSULTANCY SERVICES LIMITED

   Un-audited	Audited
   December 31, 2025	June 30, 2025
   (Rupees)

   CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION (UN-AUDITED) AS AT 31 DECEMBER 2025

   ASSETS

   NON CURRENT ASSETS

   NOTE

   Property and equipment	5	11,374	12,809
   Long term investments	6	102,900,210	91,720,591
   Long term deposits		150,000	150,000
   CURRENT ASSETS		103,061,584	91,883,400
   Short term investments		3,041,806	2,234,380
   Trade receivables & prepayments		1,260,461	600,000
   Other Receivable		580,000	580,000
   Bank balances		919,179	919,179
   		5,801,446	4,333,558
   CURRENT LIABILITIES
   Trade and other payables
   Unclaimed dividend
   Accrued interest	7
   Short term borrowings	8
   Due to related parties
   Provision for taxation
   		(651,969,689)	(650,410,398)
   NET CURRENT ASSETS		(646,168,243)	(646,076,840)

   (480,013,216)	(480,136,002)
   (885,404)	(885,404)
   (21,757,327)	(21,757,327)
   (89,839,551)	(89,839,551)
   (59,414,191)	(57,732,114)
   (60,000)	(60,000)

   NON-CURRENT LIABILITIES - -

   NET ASSETS (543,106,659) (554,193,440)

   SHARE CAPITAL AND RESERVES

   Authorized share capital 2,300,000,000 2,300,000,000

   Issued share capital	1,865,684,870		1,865,684,870
   Discount on issue of shares	(818,331,810)		(818,331,810)
   Retained earnings (1,611,082,569) (1,622,169,350) (563,729,509) (574,816,290)
   Share deposit money		20,622,850	20,622,850
   TOTAL EQUITY		(543,106,659)	(554,193,440)
   CONTINGENCIES AND COMMITMENTS	9	-	-
   		(543,106,659)	(554,193,440)

   The annexed notes from 1 to 17 form an integral part of these interim financial statements.

   
   
   
   
   

   Director Chief Financial Officer Chief Executive

   06 Pervez Ahmed Consultancy Services Ltd.

   ‌Half Yearly Accounts December 31 , 2025

   PERVEZ AHMED CONSULTANCY SERVICES LIMITED

   CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS

   HALF YEAR ENDED		QUARTER ENDED
   Un-Audited	Un-Audited	Un-Audited	Un-Audited
   01 Jul., 2025 to 31 Dec., 2025	01 Jul., 2024 to 31 Dec., 2024	01 Oct., 2025 to 31 Dec., 2025	01 Oct., 2024 to 31 Dec., 2024
   (Rupees)		(Rupees)

   FOR THE QUARTER AND SIX MONTH PERIOD ENDED DECEMBER 31, 2025 (UN-AUDITED)

   NOTE

   Revenue from contracts with customers	-		-	-	-
   Administrative expenses		(900,264)	(918,293)	(527,520)	(560,991)
   Changes in fair value of short term investments		807,426	493,279	(41,637)	655,638
   		(92,838)	(425,014)	(569,157)	94,647
   Share of profit of associate		11,179,619	9,452,065	5,872,087	8,757,039
   Profit before taxation		11,086,781	9,027,051	5,302,930	8,851,686
   Provision for taxation	10	-	-	-	-

   Profit after taxation 11,086,781 9,027,051 5,302,930 8,851,686

   Earning per share - basic and

   diluted 0.059 0.048 0.028 0.047

   The annexed notes from 1 to 17 form an integral part of these interim financial statements.

   
   
   
   
   

   Director Chief Financial Officer Chief Executive

   07 Pervez Ahmed Consultancy Services Ltd.

   ‌Half Yearly Accounts December 31 , 2025

   PERVEZ AHMED CONSULTANCY SERVICES LIMITED

   CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME FOR THE QUARTER AND SIX MONTH PERIOD ENDED DECEMBER 31, 2025

   (UN-AUDITED)

   HALF YEAR ENDED		QUARTER ENDED
   Un-Audited	Un-Audited	Un-Audited	Un-Audited
   01 Jul., 2025 to 31 Dec., 2025	01 Jul., 2024 to 31 Dec., 2024	01 Oct., 2025 to 31 Dec., 2025	01 Oct., 2024 to 31 Dec., 2024
   (Rupees)		(Rupees)

   Profit after taxation	11,086,781	9,027,051	5,302,930	8,851,686
   Other comprehensive income	-	-	-	-

   Total comprehensive income 11,086,781 9,027,051 5,302,930 8,851,686

   The annexed notes from 1 to 17 form an integral part of these interim financial statements.

   
   
   
   
   

   Director Chief Financial Officer Chief Executive

   08 Pervez Ahmed Consultancy Services Ltd.

   ‌Half Yearly Accounts December 31 , 2025

   PERVEZ AHMED CONSULTANCY SERVICES LIMITED

   CONDENSED INTERIM STATEMENT OF CASH FLOWS FOR THE SIX MONTH PERIOD ENDED DECEMBER 31, 2025 (UN-AUDITED)

   Six-months period ended
   01 Jul., 2025 to 31 Dec., 2025	01 Jul., 2024 to 31 Dec., 2024
   (Rupees)

   CASH FLOWS FROM OPERATING ACTIVITIES

   Profit before taxation 11,086,781 9,027,051

   Adjustments for non-cash and other items

   (807,426)	(493,279)
   (11,179,619)	(9,452,065)
   1,435	1,890

   Change in fair value of investments at fair value through profit or loss Share of (Profit) of associate

   Depreciation

   (11,985,610) (9,943,454)

   Operating (loss) before working capital changes (898,829) (916,403)

   (122,786)	(1,005,627)
   (660,461)	(607,163)

   Changes in working capital Trade and other payables Prepayments and other receivables

   (783,247) (1,612,789)

   Cash (used in) operations (1,682,077) (2,529,192)

   CASH FLOWS FROM INVESTING ACTIVITIES - -

   CASH FLOWS FROM FINANCING ACTIVITIES

   Borrowings from related parties 1,682,077 2,560,000

   Net cash generated from financing activities 1,682,077 2,560,000

   NET INCREASE / (DECREASE) IN CASH AND CASH EQUIVALENTS - 30,808

   CASH AND CASH EQUIVALENTS AS AT BEGINNING OF THE

   PERIOD 919,179 890,871

   CASH AND CASH EQUIVALENTS AS AT END OF THE PERIOD 919,179 921,679

   The annexed notes from 1 to 17 form an integral part of these interim financial statements.

   
   
   
   
   

   Director Chief Financial Officer Chief Executive

   09 Pervez Ahmed Consultancy Services Ltd.

   ‌Half Yearly Accounts December 31 , 2025

   PERVEZ AHMED CONSULTANCY SERVICES LIMITED

   -	-	-	9,027,051	9,027,051
   -	-	-	-	-

   CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY FOR THE SIX MONTH PERIOD ENDED DECEMBER 31, 2025 (UN-AUDITED)

   SHARE CAPITAL	Share deposit money	CAPITAL RESERVES	Accumulated Losses	TOTAL EQUITY
   		Discount on issue of shares
   (Rupees)

   Balance as at 30 June 2024 (Audited) Comprehensive income	1,865,684,870	20,622,850	(818,331,810)	(1,630,253,428)	(562,277,518)
   Profit after taxation
   Other comprehensive income
   Total comprehensive income	-	-	-	9,027,051	9,027,051
   Transaction with owners	-	-	-	-	-
   Balance as at 31 December 2024 (Un-audited) Comprehensive income	1,865,684,870	20,622,850	(818,331,810)	(1,621,226,377)	(553,250,467)
   (Loss) after taxation
   Other comprehensive income
   Total comprehensive loss	-	-	-	(942,973)	(942,973)
   Transaction with owners	-	-	-	-	-
   Balance as at 30 June 2025 (Audited) Comprehensive income	1,865,684,870	20,622,850	(818,331,810)	(1,622,169,350)	(554,193,440)
   Profit after taxation
   Other comprehensive income
   Total comprehensive income	-	-	-	11,086,781	11,086,781
   Transaction with owners	-	-	-	-	-

   -	-	-	(942,973)	(942,973)
   -	-	-	-	-

   -	-	-	11,086,781	11,086,781
   -	-	-	-	-

   Balance as at 31 December 2025 (Un-audited) 1,865,684,870 20,622,850 (818,331,810) (1,611,082,569) (543,106,659)

   The annexed notes from 1 to 17 form an integral part of these interim financial statements.

   
   
   
   
   

   Director Chief Financial Officer Chief Executive

   10 Pervez Ahmed Consultancy Services Ltd.

   ‌Half Yearly Accounts December 31 , 2025

   PERVEZ AHMED CONSULTANCY SERVICES LIMITED

   NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS FOR THE SIX MONTH PERIOD ENDED DECEMBER 31, 2025 (UN-AUDITED)

   1. LEGAL STATUS AND OPERATIONS

      Pervez Ahmed Consultancy Services Limited['the Company'] was incorporatedin Pakistan on 08 June 2005 as a Single Member Company under the repealed Companies Ordinance, 1984 (now Companies Act, 2017) and was later converted to Public Limited Company and listed on Pakistan Stock Exchanges Limited. The Company was primarily a brokerage house engaged in the shares brokerage and trading, consultancy services and underwriting. However, the Company has amended its memorandumof association to change its principal activity to act as consultants and advisors to individual, corporations, financial institutions, Government bodies and departments, Companies, corporations and other entities. The registered office of the Company is situated at 20-K Gulberg II, Lahore.

      1. Placement on Non Compliant Segment

         The Company has been placed on non compliant segment by Pakistan Stock Exchange Ltd.

   2. BASIS OF PREPARATION

      The interim financial statements are un-audited and has been presented in condensed form and do not include all the information as is required to be provided in a full set of annual financial statements. These condensed interim financial statements should be read in conjunction with the audited financial statements of the Company for the year ended 30 June 2025.

      These condensed interim financial statements have been subjected to limitedscope review by the auditors of the company, as required by the Companies Act, 2017 under section 237. The comparative condensed interim statement of financial position as at 30 June 2025 and the related notes to the condensed interim financial statements are based on audited financial statements. The comparative condensed interim statement of profit or loss, condensed interim statement of comprehensive income, condensed interim statement of cash flows, condensed interim statement of changes in equity and related notes to the condensed interim financial statements for the six month period ended 31 December 2024 are based on unaudited, reviewed condensed interim financial statements. The condensed interim statement of profit or loss and condensed interim statement of comprehensive income for the three months period ended 31 December 2025 and 31 December 2024 are neither audited nor reviewed.

      1. Statement of compliance

         These condensed interim financial statements have been prepared in accordance with the accounting and reportingstandards as applicablein Pakistan for interim financial reporting. The accounting and reporting standards as applicable in Pakistan for interim financial reporting comInpterirsneatoiof:nal Accounting Standard (IAS) 34, Interim Financial Reporting, issued by the

         • International

           Accounting Standards Board (IASB) as notified under the Companies Act, 2017; and

         • Provisions of, directives and notifications issued under the Companies Act, 2017.

           Where the provisions of, directives and notifications issued under the Companies Act, 2017 differ with the requirements of IAS 34, the provisions of, directives and notifications issued under the Companies Act, 2017 have been followed.

      2. Going concern assumption

         The Company has accumulated losses of Rs. 1,611.083 million. Its current liabilities exceed current assets by Rs. 646.168 million. Further, the Trading Rights Entitlement Certificate issued to the Company was inactive due to inadequatenet capital balance and the same has been transferred to third party. These factors indicates existence of material uncertainty that

         11 Pervez Ahmed Consultancy Services Ltd.

         ‌Half Yearly Accounts December 31 , 2025

         raise doubts about the Company's ability to continue as a going concern and that the Company may not be able to discharge its liabilities and realize its assets in the normal course of business. However, these condensed interim financial statements have been prepared on a going concern basis based on the following:

         • The Company has amended its memorandum of association and changed its principal activity to act as consultants and advisors to individual, corporations, financial institutions, Government bodies and departments, Companies, corporations and other entities.

         • Negotiations with lenders regarding settlement of overdue debt finances.

         • The Company has continued financial support of its sponsors and associated companies in the form of interest free advances

      3. Basis of measurement

         These condensed interim financial statements financial statements have been prepared on the historical cost basis except for the followingitems, which are measured on an alternativebasis as at the reporting date.

         Items Measurement basis

         Financial liabilities Financial assets

         Amortized cost

         Fair value/amortized cost

      4. Critical accounting judgments and key sources of estimation uncertainty

         The preparation of condensed interim financial statements requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. The estimates and associated assumptions and judgments are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the result of which forms the basis of making judgments about carrying values of assets and liabilities that are not readily apparent from other sources. Subsequently, actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised and in any future periods affected.

      5. Functional currency

         These condensed interim financial statements have been prepared in Pak Rupees which is the Company's functional currency. The amounts reported in these interim financial statements have been rounded to the nearest Rupees unless specified otherwise.

   3. Material accounting policy information

      1. The material accounting policy information and the methods of computation adopted in the preparation of these condensed interim financial statements are consistent with those applied in the preparation of audited annual financial statements for the year ended June 30, 2025.

      2. There are certain International Financial Reporting Standards, amendments to published standards and interpretations that are mandatory for the financial year beginning on July 01, 2025. These are considered not to be relevant nor have any significant effect on the Company's financial reporting and operations and are, therefore, not disclosed in these condensed interim financial statements.

   4. ACCOUNTING POLICIES AND METHODS OF COMPUTATION

The accounting policies and methods of computation adopted in the preparation of these condensed interim financial statements are the same as those applied in the preparation of preceding annual financial statements of the Company for the year ended 30 June 2025.

12 Pervez Ahmed Consultancy Services Ltd.

‌Half Yearly Accounts December 31 , 2025

(Un-audited) (Audited)

December June 30, 2025

31, 2025

NOTE (Rupees)

Cost of investment 9,000,000 9,000,000

Changes in fair value (9,000,000) (9,000,000)

- -

This represents investment in 900,000 ordinary shares of Origins Fabric (Private) Limited ['OFPL']. OFPL was incorporated for the purpose of acquiring exclusive rights of ORIGINS LAWN, an extension of an already established and renowned retail brand ORIGINS READY TO WEAR. The Company's shareholdingin OFPL comprises 10,000 voting ordinary shares of Rs. 10 each and 890,000 non-voting ordinary shares of Rs. 10 each. The voting power held by the Company does not constitute control or significant influence. Therefore the investment has been accounted for under IFRS 9 - 'Financial Instruments' and mandatorily classified as 'financial asset at fair value through profit or loss'.

The investment was made by the Company with a view to profit from total return of the investee in the form of dividends and changes in fair value. However, as the Company lacks future prospects, the management believes that the fair value of the investment is nil.

1. ACCRUED INTEREST

   This represents over-due interest on borrowings.

2. SHORT TERM BORROWINGS

   The represents overdue borrowings. The Company does not have any lines of credit arrangements as the reporting date.

3. CONTINGENCIES AND COMMITMENTS

   1. Contingencies

      1. One of the creditors of the Company filed suit against the Company for the recovery of Rs.

         36.57 million including late payment surcharge amounting to Rs. 17.45 million. The Company has filed a counter claim of Rs. 18.86 million against the creditor. No provision has been made in this regard as the management of the Company expects favourable outcome of the suit.

         14 Pervez Ahmed Consultancy Services Ltd.

         ‌Half Yearly Accounts December 31 , 2025

      2. Al Baraka Bank (Pakistan) Limited in 2019 has filed a suit before the High Court of Lahore as per writ petition C.O.S No. 2221/19 against the Company for recovery of outstanding Murabaha Finance of Rs 87,137,771/- along with the relevant cost. Therefore, since 2019 the Company has not recognized interest on short term borrowings as the outcome of the matter cannot be determined at this stage. The legal counsel of the company is confident for the favorable decision of the case.

      3. The Additional Registrar of Companies ['ARC'] Securities and Exchange Commission of Pakistan has filed a petition number 9/2016 in the High Court of Lahore against the Company and its directors whereby the ARC has prayed that the affairs of the Company be declared as being conducted in an unlawful manner which is prejudicial for the shareholders, that the Company and its Directors be ordered to buy back the shares of minority shareholders at a price to be determinedin accordance with Rule Book of Pakistan Stock Exchange Limitedand that the directors be held responsible for not conducting the brokerage business as envisaged in the memorandum of association of the Company. The prayer has been made on the following grounds:

         1. The Company is not being run in accordance with the law and the state of affairs of the Company are prejudicial to the interest of the minority shareholders as the some minority shareholders have filed a complaint to that effect.

         2. The Company has not declared any dividends 2008-09 and its does not have a bright future outlook as the directors have no concrete plan for the revival of business of the Company.

         3. The Company is principally a brokerage house and has sold its Trading Rights Entitlement Certificate ['TREC'] of Lahore Stock Exchange, without which the Company cannot operate as a brokerage house. (The TREC was sold without the authority of shareholders in general meeting for which the directors of the Company have already been fined Rs. 700,000 vide Securities and Exchange Commission of Pakistan's order dated 14 June 2016).

         4. The Company has not recognized any provision against debt owed to a creditor of Rs. 36.57 million including late payment surcharge amounting to Rs. 17.45 million.

         5. The Company has not recognized interest on short term borrowings since 30 June 2015.

         6. The Company has failed to comply with the best practices of the Code of Corporate Governance.

            The petition is pending adjudication. The outcome of the petition cannot be ascertained as at the reporting date with certainty.

   2. Commitments

      There are no material commitments as at the reporting date.

4. PROVISION FOR TAXATION

   Provision for taxation has been calculated by taking into account higher of normal tax or ACT under section 113 of Income Tax Ordinance, 2001. However, due to taxable loss, no tax provision has been made for the period.

5. TRANSACTIONS AND BALANCES WITH RELATED PARTIES

   Related parties from the Company's perspective comprise associates and associated undertakings, sponsors and directors, and key management personnel. Key management personnel are those persons having authority and responsibility for planning, directing and controllingthe activities of the Company, directly or indirectly, and includes the Chief Executive and Directors of the Company. Key management personnel do not draw any compensation from the Company. Transactions with sponsors, directors, associates and associated undertakings are limited to provision of temporary interest free loans to the Company.

   Details of transactions with related parties are as follows:

   15 Pervez Ahmed Consultancy Services Ltd.

   ‌Half Yearly Accounts December 31 , 2025

   (UN-AUDITED)
   HALF YEAR ENDED
   December 31, 2025	December 31, 2024
   Rupees

   1. Transactions with related parties

      Nature of relationship Nature of transactions

      Associated companies

      and undertakings Borrowings obtained - net 1,682,077 2,560,000

   2. Balances with related parties

      Nature of relationship	Nature of balance
      Associated companies	Borrowings	22,386,409	20,412,931
      and undertakings	Advance against issue of ordinary shares	20,622,850	20,622,850
      Sponsors and directors	Borrowings	37,027,782	37,027,782

6. FINANCIAL INSTRUMENTS

   The carrying amounts of the Company's financial instruments by class and category are as follows:

   (Un-audited) (Audited)

   December 31, 2025

   June 30,

   2025

   1. Financial assets

      Financial assets at amortized cost

      Rupees

      Long term deposits 150,000 150,000

      Cash at banks 919,179 919,179

      Financial assets mandatorily measured at fair value

      through profit or loss

      Long term investments 4,222,750 4,222,750

      Short term investments 3,041,806 2,234,380

      8,333,735 7,526,308

   2. Financial liabilities

      Financial liabilities at amortized cost
      Short term borrowings	89,839,551	89,839,551
      Accrued interest	21,757,327	21,757,327
      Trade creditors	472,430,986	472,430,986
      Accrued liabilities	-	155,000
      Payable against purchase of investment	4,086,600	4,086,600
      Other payables	954,125	921,911

      589,068,589 589,191,375

7. FAIR VALUE MEASUREMENTS

   1. Financial Instruments

      1. Financial instruments measured at fair value

         The Company measures some of its assets at fair value. The fair value hierarchy of financial instruments measured at fair value and the information about how the fair values of these financial instruments are determined are as follows:

         16 Pervez Ahmed Consultancy Services Ltd.

         ‌Half Yearly Accounts December 31 , 2025

         (Un-audited) (Audited)

         1. Recurring fair value measurements

            Valuation technique and

            December 31, 2025

            June 30,

            2025

            Nature of asset

            Investment in unquoted

            Hierarchy

            Level 2

            key inputs

            Break-up value

            Rupees 4,222,750 4,222,750

            securities (Long term investment)

            Investment in listed

            Level 1

            Quoted bid prices in active

            3,041,806 2,234,380

            securities (Short term investments)

8. EVENTS AFTER THE REPORTING PERIOD

   There are no significant events after the reportingperiod that may require adjustment of and/or disclosure in these condensed interim financial statements.

9. RECOVERABLE AMOUNTS AND IMPAIRMENT

   As at the reporting date, recoverable amounts of all assets/cash generating units are equal to or exceed their carrying amounts, unless stated otherwise in these condensed interim financial statements.

10. DATE OF AUTHORIZATION FOR ISSUE

    These condensed interim financial statements have been approved by the Board of Directors of the Company and authorized for issue on February 25, 2026.

11. GENERAL

    1. There are no other significant activities since 30 June 2025 affecting the condensed interim financial statements.

    2. Corresponding figures have been re-arranged where necessary to facilitate comparison. However, there are no significant reclassifications during the period.

Director Chief Financial Officer Chief Executive

17 Pervez Ahmed Consultancy Services Ltd.

‌Registered Office: 20-K Gulberg II, Lahore.

DA:(042)35759621,35759464,35714810 Fax: (042) 35710312