Pakistan Reinsurance Company Limited
Statement of Investment Income
for the Quarter ended March 31, 2003 (Unaudited)
							March 31,		March 31,
							2,003		2,002
							Rupees		Rupees
Income from non-investment
Held to maturity investment
Return on government securities							26,215,735		20,553,916
Available for sale investment									4,304,234
Return on other fixed income securities and deposits							72,917		3,559,091
Divident income							10,812,555		4,068,826
Gain on sale of avaliable for sale investment							-		-
							-		-
Gain on sale of non-trading investment
							37,101,207		32,486,067
Less:  investment related expenses							610,612		728,504
Net investment income							36,490,595		31,757,563
The annexed note form an integral part of these financial statements.
Naheed Hyder		Maj. ( R ) Mohammad Fazal Durrani				M. Sharif Ijaz Ghauri		Fazalur Rehman Dittu
Executive Director (F&A)		Chief Executive				Director		Director
Karachi, June 19, 2003