16. Privatisation Fund.-

(1)

The Commission shall establish and maintain a distinct and separate Privatisation Fund in which all privatisation proceeds shall be deposited. The Commission shall, out of the moneys so deposited, withdraw and contribute to the Commission's Account such amount or amounts as may be needed by it from time to time but only to supplement the other resources therein if and to the extent necessary. The remaining privatisation proceeds shall be kept in trust for and distributed to the Federal Government or the enterprise owned or controlled by the Federal Government entitled to such proceeds.

*      Provided that the Commission may, if so required by the Federal Government, withhold a specified
       amount out of the privatisation proceeds, of Government of Pakistan's shares in the oil and gas fields
       specified in the Schedule to this Ordinance

*      Provided further that the amount withheld under the foregoing proviso shall be paid to the Federal 
       Government and shall not exceed the sum equivalent to such proceeds as may be necessary to
       compensate the Federal Government for the investments made by it in such oil and gas fields.

(2)

The privatisation proceeds distributed to the Federal Government pursuant to sub-section (1), shall be utilized by the Federal Government as follows: