Section 14: Financial autonomy of the Corporation

14. Financial autonomy of the Corporation.—(1) The Corporation may, directly or indirectly, generate, retain, expend and utilize its funds, revenues, rentals, profits or other proceeds, on self-sustaining basis, by itself or in collaboration with other entities, by way of carrying out commercial activities or otherwise, through its works and activities, in performance of its functions under this Act. (2) Funds, revenues, rentals, profits or other proceeds, which are granted to or have been granted to the Corporation, or are generated by or have been generated by the Corporation, directly or indirectly, shall be and remain the property of the Corporation: Provided that such funds, revenues, rentals, profits or other proceeds shall be utilized by the Corporation for the development and maintenance of strategic logistical as well as engineering capabilities of Pakistan, in accordance with the provisions of this Act. CHAPTER-VI STRATEGIC ROLE OF THE CORPORATION

Effective date: 2023-08-07

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