State Act

The Punjab Bureau of Investment Promotion Act, 2016

11. (1) The Bureau shall be financed by the Government by way of an annual Grant-in-Aid. (2) The Bureau shall receive such fee or charges on the proposals processed by it, as may be prescribed by the Board of Governors. (3) The Bureau may maintain a separate bank account of its receipts and expenditure. (4) The accounts of the Bureau shall be audited annually by the statutory and government auditors. (5) The Bureau shall finalize its quarterly and annual receipts and expenditure accounts within thirty days and sixty days, respectively from the close of the relevant quarter/year. (6) The delegation of financial powers shall be such, as may be approved by the Executive Committee from time to time.