Is it good to create financial provision for aged stock from start of new fiscal year?

Dear Mr. Habib

At any point of Time, Inventory should be recorded at lower of cost or NRV.  And according to IAS2 para30

"Estimates of net realisable value are based on the most reliable evidence available

at the time the estimates are made".

Therefore, there is no need of provision in the book of account related to inventory.