SERVICES OF PTCL Pakistan Telecommunication Company Limited not only Provides Conventional

telephone faciliti Services for Consumers These services are basically for the common users
(Individual/home users) those use telephon New Telephone Connections: As mentioned earlier, PTCL is
presently the only telecom company, who provided fixed-line te Broadband Broadband Pakistan is now
available in over 167 cities/towns including Lahore, Karachi, Isla With the option of subscribing to the
speed of (1Mbps, 2Mbps,) and (4Mbps) packages, you can Calling Card Calling cards are available at all
PTCL Customer Service Centers, Ufone franchisees, Vfone f Conference call PTCL Conference Call is
designed to enable PTCL customers to make more than one call at one Dial-up Vfone PTCL Vfone
Connection comes with CDMA 2000 1x technology (phone model dependent feature) whi EVO Wireless
Experience the evolution of the broadband revolution with PTCL Evo - the ultimate solution f PREPAID
CALLING CARDS: PTCL calling card is the most popular choice of millions of customers all over the
country. Comes in easily affordable denominations of Rs. 100, 250, 500, 1000 and 2000. Easily availab
How to use it: Scratch off the security coating on the indicated strip to get your card Pin Number. Dial
PTCL’s toll free number 1010 from any digital phone. Dial 1 for Urdu & 2 for English In For International
Call Dial 00+CountryCode+CityCode+PhoneNumber+#. E-BILL PAYMENT Billing system is a part of
customer services so providing connivance to its valuable custom The basic concept of the service is to
provide billing solution to PTCL customer. The same P Through these cards customer can pay his bill on
phone. No additional charges for bill payme DIGITAL FACILITIES: PTCL offers a variety of features to
digital exchange customers like:• • • • • • • • Hotline Prepayment Telephony Services (PPT) With the
changing trends most telecoms are diversifying their services towards Prepaid solut Target market
Target market for the service can be segmented as follow: Budget conscious subscriber Subscriber
avoiding bill-depositing hassles People requiring cas Features: • • • • • • • • • Account number
recharging Outgoing call pin setting Cancel out g - 15 - Internship Report SERVICES FOR CORPORATE
CUSTOMERS PTCL is striving hard to facilitate its valued corporate customers at each level of service. IN
BASED VALUE ADDED SERVICES • • 0800-Toll Free PTCL Calling Cards Domestic And Internation VALUE
ADDED SERVICES • • • • • Universal Access Number (UAN) Universal Internet Number (UIN) • • • • • • •
• - 16 - Internship Report Universal Access Number (UAN): UAN (Universal Access Number) service is
ideal for organizations Engaged in marketing of pro • Voice Messaging Service: (VMS) With PTCL
Messaging Service, you can have all for (or Desired) calls recorded when you are a • Security of message
is ensured against eavesdropping through subscriber controlled password. • PTCL VMS is designed for
those who do not want to miss a call or Fax because that can be ben • • Great for anyone owning a
telephone or Fax, at home or business. Much more powerful and flex - 17 - Internship Report Features •
• • • • • Call answer Fax Messaging Notification Capacity 10 messages Free for us PTCL Messaging Plus:
• PTCL MESSAGINH PLUS is designed for small and medium business enterprises having problems wi •
PTCL MESSAGING PLUS will definitely handle these problems for you. Advanced messaging featur •
Essential for time-conscious executives, frequent travelers and Professional groups. Features: • Call
answer - 18 - Internship Report Co- Location Centers Pakistan Telecommunication Company has taken
land mark decision to establish co location cen Target market • IT companies • Telecom data companies
- 19 - Internship Report Universal Internet Number (UIN) 131 UIN 131 numbering scheme for internet
services providers, represent exclusive code to each I - 20 - Internship Report Virtual Private Network
(VPN) Communication is the secret of success in today’s highly competitive market. When it comes t
Digital Cross Connect (DXX) Telecommunication networks are the most important infrastructure
elements of any business to • End to end digital connectivity on digital cross connect network • • •
Country wide as well as global coverage Flexible bandwidth to suit the requirement Bet - 21 - Internship
Report Target market • Corporate customer • Software exporters • Data network operators •
Airlines/travel agencie It is a near broadband experience suitable for household and small/medium sized
organization • • • • • Faster and clear voice Fax and data communication on a single phone PRI provides
thirty 64 k - 22 - Internship Report FINANCIAL ANALYSIS Financial analysis of any organization is very
necessary for the evaluation and assessment o In the financial analysis of P.T.C.L we will analyze some
important information about the co Current ratio Current Ratio is an indicator to determine the short
term debt paying ability or the liquidi Quick ratio: Quick ratio or the acid test ratio also performs the
same task as is performed by current ra - 23 - Internship Report SUBSIDIARIES AND COMPETITORS As
already mentioned, presently PTCL has to face war with major competitors in mobile phone
SUBSIDIRAY/PRODUCT COMPETITOR Multimedia & Broad Band (ISP Product) There is about 100
competitors of product throughout the country to provide Internet service U-fone (Cellular service
provider) There are five competitors of Ufone in cellular phone industry i.e. Mobilink, Instaphone and
PTCL Calling Cards (Product) Hello Cards, Call Point Cards, Call Mate Cards, Global Telecom Cards.
Wireless Local Loop (V-Fone) Go CDMA, Wateen Telecom & World Call are the Fixed Wireless Telephone
competitors of V-PTCL. - 24 - Internship Report BRIEF INTRODUCTION OF SUBSIDIARIES UFONE
Launched on January 29, 2001, Ufone is growing cellular operator in Pakistan. Ufone services U-fone has
been a highly successful venture both in terms of subscriber uptake and coverage. Current Situation of
Ufone Ufone has started Sales in all the major cities of Pakistan which include Karachi, Lahore, I - 25 -
Internship Report Main Features Both postpaid and prepaid Ufone subscribers can enjoy any/ all Ufone
services - 26 - Internship Report Multi Media & Broad Band (Phone n Net) Formerly Paknet Limited a
fully owned Subsidiary of Pakistan Telecommunication Company Limit 31, 2008). The Company
commenced its business in January 2000 with a balance sheet size of over US $ 7. - 27 - Internship
Report COMPETITOR OF PTCL There is no meager competitor of PTCL in landline but with the growth of
telecommunication i Other players in Land Line industry: Operator Customers NTC 103,059 Brain Limited
7,376 World Call 11,347 Union Communication 3,500 Naya Tel 13,500 Mobilink Mobilink is a largest
mobile phone company of Pakistan. Mobilink is currently having more th Telenor Telenor is another cell
phone company it have 17,841,074 subscribers which is 20 % of total - 28 - Internship Report Warid Tel
Waridtel is also providing cell phone facilities in Pakistan. Waridtel having more then 15,1 NEW
COMPETITORS Other than mobile & land line PTCL is facing competition in F.W.T (Fixed Wireless
Telephone) Telecard World Call 501,680 468,335 This has added competition for PTCL (1,245,639) in
WLL (Wireless local Loop) field. - 29 - Internship Report BRIEF ON MY INTERNSHIP WORK During my
internship at PTCL I worked in fallowing department of PTCL Marketing department Customer Care &
Customer Services department HR department Revenue depa Now we move department wise and give
brief introduction of each department, and I will expla - 30 - Internship Report Marketing Department is
called a revenue-generating department of an organization. Marketing So we will move in the pattern
describe below: Marketing strategy of PTCL Market segmenta 1. Marketing Strategy of PTCL For
understanding the marketing department work flow and its function we must have clear pic - 31 -
Internship Report department so we have to move traditionally .Classically, Marketing has be We will
briefly discuss below the marketing strategy, product planning, development & manage - 32 - Internship
Report 2. Market Segmentation Basically PTCL segmented its market on two bases • To better
implement customer services fea on the basis of services as: – Telephony – Data – Video PTCL has
segmented its market for its services and products to effectively deal with its cus - 33 - Internship Report
Service vs. Customer Matrix S.# A. 1 2 3 4 5 6 7 B. A. 1 2 3 4 5 6 7 B. Type of PSTN UAN Tele. 0800 0900
VPN PPCC VOIP Customers M BASIC TELEPHONY & VALU ADDED SERV - 34 - Internship Report 3.
MARKETING MIX Product Planning: In PTCL, so far products had been planned and developed by the
engineering department and ma Pricing Strategy: Being a government organization, PTCL is not
authorized to determine the prices of its produ - 35 - Internship Report technology whose rates are on
the decline with the passage of time. PTCL a 4. PROMOTIONAL STRATEGY PTCL is using following
components of promotional mix for the promot In promotional mix, PTCL’s main stress is on advertising
in print and electronic media. PTCL Sales Promotion: PTCL charges 1/3rd rates on national calls from
06:00 pm – 07:00 am and loc - 36 - Internship Report from 6:00pm – 6:00 am to attract customers to use
its telephone service. T • Personal Selling: As PTCL is enjoying monopoly in fixed-line telephony, the
Company has no Professional sales - 37 - Internship Report CUSTOMER CARE & CUSTOMER SERVICES
DEPARTMENT PTCL has established its Customer Services Department at different levels the overview of
th Corporate Customer Care Center Customer Services Centers Toll Free Help Lines Operation Region
Level Tehsil Level For Complaint & Enquiry Now we briefly introduce the functions of these: Corporate
Customer Care Center To facilit - 38 - Internship Report a) 1236 (Service Activation) This toll free No is
used to change the tariff packages of land line, WLL (V-fone), PTCL pho This facility is also Tol Free & is
used to obtain the telephone numbers of some specific su To register the faulty Telephone complaints
PTCL has established a Toll Free No 18 where a c - 39 - Internship Report REVENUE DEPARTMENT The
revenue generated by the marketing department through selling the company services/produ Bill
Printing & Distribution The printing is basically carried out by regional billing compu - 40 - Internship
Report debts collection on monthly bases. Now a days as incentive is also offered - 41 - Internship
Report SWOT ANALYSIS OF PTCL Now we move towards the most important part of the internship
report the SWOT analysis after STRENGTH PTCL enjoy monopoly State of the Art International Gateway
Exchanges & Satellite Earth S - 42 - Internship Report State Of The Art International Gateway Exchanges
& Satellite Earth Station Large Earnings As described earlier that PTCL with more then 4 million users
having greet re WEAKNESS Image – Government organization Image – Lack of customer focus Image –
Outdated people - 43 - Internship Report OPPORTUNITY Growth in telecommunication industry More
aware and technology understanding consumer – THREATS Internet Telephony & other rapidly evolving
technologies Expected competition due to the - 44 - Internship Report My Project STAFF ROLE OF THE
HUMAN RESOURCE DEPARTMENT The Human Resource department of the company operates in an
auxiliary, advisory, or facilita - 45 - Internship Report POLICY INITIATION AND FORMULATION The SEVP
of the H.R. Department is the individual most actively involved in policy revision - 46 - Internship Report
ADVICE A major portion of the activities of those engaged in staff personnel work is in the nature The
H.R. Managers and their staffs are expected to be fully familiar with H.R. policy, the l - 47 - Internship
Report SERVICE The service responsibilities of the H.R. department are apparent when one examines
such thin - 48 - Internship Report Control The H.R. Dept carries out important control functions. It
monitors the performance of line d - 49 - Internship Report HUMAN RESOURCE DEPARTMENT
FUNCTIONS H.R. Management activities are carried on both by the staff H.R. Dept and by operating
manag - 50 - Internship Report President of PTCL SEVP HR GM HR H.Q GM HR SOUTH KCH GM HR
NORTH RWP * GM HR CENTERAL GM LABOR GM TRAINING RELATIONS S.M TRAINING HRP REGIONAL
MANAGER HR S.M TRAINING LHR S.E TRAINING R.T.T.S LHR OFFICE STAFF TO R.M HR S.E TRAINING RTTS
MULTAN S.E TRAINING RTTS KARACHI S.E TRAINING RTTS ISLAMABAD H.R MANAGEMENT HIERARCHY
AT PTCL * The staff tree for other GM’s HR (South, North) is also same as per GM HR Central. - 51 -
Internship Report TRANSFER, PROMOTION, LAYOFF For these tasks the H.R. Dept serves primarily in a
coordinative capacity. When employees ar - 52 - Internship Report TRAINING AND DEVELOPMENT On-
the-job training and coaching are performed by the line supervisor or by a specially desi • • Telecom
staff College Hari Pur Telecom Staff college Lahore Cantt. The regional level staffs training schools are
also involved for extending training facility The types of training being offered are: o Initial training for
the new staff generally 03-0 Internship Report o Promotion training courses. o Special emergent
technology trainings. o S - 54 - Internship Report COMPENSATION ADMINISTRATION The work of
designing and installing a job evaluation program is handled, for the part, by t - 55 - Internship Report
HEALTH AND SAFETY A significant part on occupational health programs is the identification and control
of agen - 56 - Internship Report DISCIPLINE AND DISCHARGE Discipline has two principal meanings. In
the first sense it means “training that molds or c The H.R. department commonly assumes the
responsibility for formulating the list of necessar Most commonly, actual approval by the H.R.
department has to be obtained before and employee - 57 - Internship Report LABOR RELATIONS When a
union has been certified by the National Industrial Relations Commission N.I.R.C, as The H.R.
department plays very significant role in labor-management relations. The director - 58 - Internship
Report BENEFITS AND SERVICES Included under this category are pensions, group life insurance, hospital
and medical insura The actual decision to establish or to expand these programs is nearly always made
by top li - 59 - Internship Report ORGANIZATION DEVELOPMENT Organization development is a general
approach for improving the effectiveness of an organiz Consultants are often involved in OD work they
work jointly with management to collect data, - 60 - Internship Report HUMAN RESOURCE PLANNING
Another new function that has emerged in recent years in human resource planning (also calle 1) Goals
and plans of organization. 2) Current human resource situation including skills inv - 61 - Internship
Report EQUAL EMPLOYMENT OPPORTUNITY Very commonly the Senior Executive Vice President (SEVP
HR) in the company bears the major r - 62 - Internship Report PERSONNEL INFORMATION SYSTEM
Today, many organizations have staffs of people trained in mathematical analysis, computers, - 63 -
Internship Report HUMAN RESOURCE DEPARTMENT OF THE PTCL: The PTCL has won repute in the field
of land line & WLL services for the domestic & commerci RECRUITMENT: The department first
determines the need of employees to be hired .The post against each vac TRAINING: Then the qualified
candidates undergo a training period under the banner of Human Resource D - 64 - Internship Report
TRANSFER: Human Resource Department of the company also deals with the transfer of the employees
becau EVALUATION: The employees are then properly evaluated by different evaluation criteria and
procedures in UNION: The union plays an essential part for the labor management relation .It bargains
with the ma - 65 - Internship Report WORK PLACE TRAINING: The work place training or on job training
(O.J.T) is the key factor of the policies of the REFRESHING COURSES: The refreshing courses enhance the
potential capabilities of the staff and the performance a PAY PACKAGES: The packages are also
determined by the Human Resources Department. These are determined on The promotions are on the
seniority cum fitness basis .So the qualified and the efficient wo - 66 - Internship Report More over the
Human Resource Department also cares for the old age benefit INFORMATION TECHNOLOGY: The
information system is the core of the operating of the each and every organization. It h - 67 - Internship
Report CURRENT HR ISSUES OF PTCL PTCL offered VSS (Voluntary Separation Scheme) to its regular staff.
Under this program, all regular status employees under the age of 58 as of 15 November, 2007
ACHIEVEMENTS THROUGH VSS PROCESS a) Decrease in Surplus/Not needed staff by 29979 staff
members of all categories. b) Decreas Internship Report VSS Process & TimeLine VSS Announced
Employees Acknowledge Receipt of VSS notification No later than 26 Nov, 2007 Employees calls VSS
Support center to report Errors in Personal information No later than 1s 15 Nov, 2007 Employees Submit
option/Waiver Form to Accept or Decline VSS Post Marked No later than 14 Ja Employees Call VSS
Support center to confirm Receipt of Option Form After 15 days of submitt PTCL Management Reviews
& Accept or reject Applications Within 30 calendar days of Receipt o Employees Receive Letter of
Acceptance or Rejection Postmarked No later than 24 Feb, 2008 PTCL Management cuts Settlement
Cheque Employees Submit Completed off Boarding & or Pension paperwork No Later than 15 days After
V No Later than 4 April, 2008 - 69 - Internship Report WEAKNESSES: The Human Resource Department is
not up to the mark for the proper appraisal system of the s - 70 - Internship Report The proper
information system is not in progress for the Human Resource De Human Resource department lacks
trained & related qualified staff and it is very difficult f - 71 - Internship Report RECOMMENDATIONS The
Human Resources should take less time in recruitment and training the staff. Highly qual - 72 -
Internship Report CONCLUSIONS: No doubt PTCL is enjoying monopoly but the time is came when
competition will force company - 73 - Change of Address Customer Request Not Verified Customer
Verification Verified CRS save the balance and Change the Address in Both System (CARES & Single View)
NIC Name of Owner Father’s Name Address Ph No. References CRC Send Document With Log in which
he writes Address or May be Reason Bills Late Receive / Not Received/Return Customer Request Not
Verified Customer Verification 1. Address is right, 2. Post is received if yes then who is received give the
name of this p Verified CRC Check the Reason of Problem NIC Name of Owner Father’s Name Address Ph
No. References CRC provide Bill @ that time and take corrective action 1. Change the address 2.
Intimate th Bill Amount Problem Customer Request Not Verified Customer Verification Verified CRC
Check the Billing No Problem NIC Name of Owner Father’s Name Address Ph No. References Problem
Show the Bills or Records of calls CRC Will Make the Adjustment Activation/Deactivation of Value added
Services Customer Request Not Verified Customer Verification Verified 1. If Value Added service is being
offered by the PTCL. 2. Is the service already a CRC check the option of package and product. Request
Reject NIC Name of Owner Father’s Name Address Ph No. References Request accept CRC open the
value added service Change of Package Customer Request Not Verified Customer Verification Verified 1.
Verify user’s previous payments clearance 2. What package user requested? CRC Check the Old Package
NIC Name of Owner Mother’s Name Address Ph No. References Amount is clear CRC Change the
Package and send the Log Complaint Registration for Faulty Phone (Land Line) Customer request (Dialed
18) Complaint registered got Complaint Number Complaint forwarded to the concerned Eng. Ops on
CFMS Fault not rectified Carried over Fault 1. Verify Customer Address. 2. Verify Customer Name. T/No
& customer address verification along with Nature of fault Fault rectified By Line Man 1. Verify Cabinet
/DP/Pair. 2. Verify from Switch room. 3. Locate the concerned E.S,L/M 4. H the fault to E.S,L/M Updated
Data base on CFMS Online software (The fault is rectified) Verification by CFMS by dialing customer
T/No Customer replied the CFMS by pressing 1 on his T/phone set Customer replied the CFMS by
pressing any other digit on his T/phone set Fault Rectified T/phone is working properly Staff Request
Approval Process Request rejected Employee Request for Leave Parent SE Operation Verify Record
Leave Balance Record in Master HRIS Data Sufficient Leave Balance in Hand Leave Balance Zero
Forwarded to (Regional) Manager HR Leave Approved Leave Approved by (Regional) Manager HR Copy
of Approval forwarded to G.M HR for master record (Leave) update. ORGANIZATION CHART OF PTCL
PRESIDENT & CEO COMPANY SECRETARY G. M N. S. S SEVP (I/ AUDIT) G.M (I/ AUDIT) SEVP (STATE
MGMT) SEVP (FINANCE) SEVP (TECHNICAL) SEVP (OPERATIONS) SEVP (HR & ADMN) * Detail is on page
51* SEVP (IT) SEVP (CORPORATE AFFAIRS) EVP (Accounts) EVP (Finance) EVP (Revenue) EVP (Dev) EVP
(Tech & St. Pl) EVP (O) H/QTRS EVP (O) CENTRAL EVP (O) SOUTH EVP ITT&R EVP I/C EVP (Marketing &
C/C) EVP (Bus. Dev.) C.E (RRR) C.E (HRM&P) C.E (Co-ord) G.M (T&T) G.M (PR) G.M (Finance) C.E Dev
(LNW) C.E (St.Plg) C.E (T&S) C.E (T&NE) C.E (M&O-I) C.E (M&O) Central C.E (M&O) South C.E (ITT&R) C.E
(I/C) G.M (Marketing) C.E (S&E) G.M (CTS&S) C.E Dev(S&T) C.E (M&O-II) G. Ms GTR/LTR-I&II/ FTR/ CTR/
MTR G. Ms STR-I, II, III&V/ WTR C.E G.M (ITI) KR (IBD) G.M (C/Care) G.M (Admn) G.M (Accts) C.E (Proc-I)
G. Ms G.M (Tech Audit) ITR/NTR-I&II/ RTR/OFS/HTR G.M (SNCR) Lahore G.M (STR-IV) (S&T) KR G.M
(Software Audit&Sup) G.M OTR IBA Expert Telecom B.D G.M ** (I&I) C.E (Proc-II) MD* (PTML) G.M (R&D
Fund) G.M Legal ** Advisor C.M.O Expert HR Telecom. (T&I) G.M (OFS) Mntce. G.M (Trg & Res) G.M
Computer G.M (TRANS DEV) G.M OTR KR G.M (MM) Expert Data Network G.M (Revenue) G.M (IT DEV)
G.M (FAN)IBA Chief Inspector (Telecom) G. M (ITI) IBA Principal (NPGIT&I) C.E (SBD) G.M (VAS) Expert
I/Technology C.E G.M (DSR&D) G.M Expert B&C. Care (Stores) Legend: * Not included in PTCL working
strength. ** Posts do not exist. Officers are working (QA) G.M (TH & VOIP) G. Ms (Development) G.M
(OFC) Kr/Lh/Pe/Iba Expert B&C. Care C.E (PSP) C.E (Po & Reg.) Financial Statements Company 1/5
PAKISTAN TELECOMMUNICATION COMPANY LIMITED CONDENSED INTERIM BALANCE SHEET AS AT
MARCH 31, 2008 (UN-AUDITED) March 31, 2008 June 30, 2007 (Rupees in thousand) EQUITY AND
LIABILITIES SHARE CAPITAL AND RESERVES Authorized Share Capi Issued, subscribed and paid-up capital
5,100,000,000 (June 2007: 5,100,000,000) ordinary sha NON CURRENT LIABILITIES Payable to PTA
against WLL license fee Deffered taxation Employees CURRENT LIABILITIES Trade and other payable
Short term borrowings Current portion of Supplie 2/5 PAKISTAN TELECOMMUNICATION COMPANY
LIMITED CONDENSED INTERIM BALANCE SHEET AS AT MARCH 31, 2008 (UN-AUDITED) March 31, 2008
June 30, 2007 (Rupees in thousand) NON CURRENT ASSETS Property, plant and equipment Capital Work-
in-Progre CURRENT ASSETS Stores and spares Trade debts Current portion of loan to subsidiaries
Receiva 138,850,414 152,820,860 3/5 PAKISTAN TELECOMMUNICATION COMPANY LIMITED
CONDENSED INTERIM PROFIT AND LOSS ACCOUNT FOR THE QUARTER AND NINE MONTHS ENDED
MARCH 31, 20 Quarter ended Nine months ended March 31, March 31, March 31, March 31, 2008 2007
2008 2007 Revenue Operating costs Operating (loss)/profit Non-operating income Finance cost
(Loss)/pro 14,940,105 (11,407,143) 3,532,962 1,001,054 (135,816) 4,398,200 (1,420,865) 2,977,335
15,715,580 (11,127,000) 4,588,580 982,128 (180,772) 5,389,936 (1,886,296) 3,503,640 43,963,060
(56,940,963) (12,977,903) 3,439,540 (453,716) (9,992,079) 3,427,792 (6,564,287) 48,451,819
(33,724,102) 14,727,717 3,859,457 (326,033) 18,261,141 (6,391,217) 11,869,924 Earnings per share -
basic and diluted (Rupees) 0.58 0.69 (1.29) 2.33 4/5 PAKISTAN TELECOMMUNICATION COMPANY
LIMITED CONDENSED INTERIM CASH FLOW STATEMENT FOR NINE MONTHS ENDED MARCH 31, 2008
(UN-AUDITED) March 31, 2008 March 31, 2007 (Rupees in thousand) Cash flows from operating
activities Cash generated from operations Long term security deposits Employee retirement benefits
Fina 17,756,652 17,377 (20,063,838) (455,096) (2,217,469) (4,962,374) 32,825,424 (123,571) (208,445)
(330,911) (5,147,344) 27,015,153 Cash flows from investing activities Fixed capital expenditure
Intangible assets Long term investments Long term loans Loan to su (4,960,188) (250,497) 973,636
249,996 2,655,943 350,000 (1,034) (982,144) (5,370,575) (9,900) (516,518) 96,473 250,001 1,842,481
402,073 39,098 (3,266,867) Cash flows from financing activities Repayment of long term borrowings
Dividend paid Net cash used in financing activities 512,464 (10,193,138) (9,680,674) (404,923)
(13,301,924) (13,706,847) Net increase in cash and cash equivalents Cash and cash equivalents at
beginning of the peri (15,625,192) 31,137,712 15,512,520 - 10,041,439 18,835,484 28,876,923 - 5/5