Section 15E: Loans in foreign currency — Provincial Industrial Development Corporation (West Pakistan) Ordinance, 1962

Current legal status not independently verified — Source: Pakistan Code (single official PDF, 2026-08-21). Whether this provision is still in force has not been independently verified.

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15E. Loans in foreign currency.___(1) The Corporation may, with the previous consent of the 3[Government] and on such terms and conditions as may be approved by the Government, borrow in foreign currency from the International Bank for Re-construction and Development or other moneys required for the development of industries referred in section 15 4* * *. (2) All loans obtained in foreign currency shall be repayable either- (a) in the currency in which they are obtained ; or (b) in any other currency which is agreed upon by the loan-giving agency and the 3[Government] ; or (c) in Pakistan currency at the rate of exchange prevailing on the date of re- payment.

Effective date: 1962-01-01

Related sections

Section 15D: [Power to impose conditions.] Omitted by the Provincial Industrial Development Section 15F: [Power to demand immediate Payment of the entire sum.] Omitted by the Provincial Section 15C: [Limit of loans or guarantees.] Omitted by the Provincial Industrial Development Section 15G: [Certification of sums re-coverable.] Omitted by the Provincial Industrial Development Section 15B: Security for loans or subscription. No 1* * subscription shall be made unless it is Section 15H: [Recovery of dues form borrower or surety.] Omitted by the Provincial Industrial

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