Section 16: Korangi Fisheries Harbour Authority Fund

16. Korangi Fisheries Harbour Authority Fund.—(1) There shall be formed a fund to be known as the “Korangi Fisheries Harbour Authority Fund” which shall vest in the Authority and shall be utilized by the Authority to meet the charges in connection with its functions under this Ordinance. (2) To the credit of the Korangi Fisheries Harbour Authority Fund shall be placed— (a) grants made by the Federal Government ; (b) loans obtained from the Federal Government ; (c) grants made by local bodies ; (d) sale proceeds of movable and immovable property and receipts for services rendered ; (e) loans obtained by the Authority with the special or general sanction of the Federal Government ; (f) foreign aid and loans obtained from any source outside Pakistan with the sanction of, and on such terms as may be approved by, the Federal Govern- ment ; (g) proceeds of all charges and recoveries made under this Ordinance ; and (h) all other sums receivable by the Authority.

Effective date: 1982-01-01

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