Adjournment may cost PCB $5.5 million

April 18,2019

ISLAMABAD: Amongst the other ill-effects, the Board of Governors meeting’s adjournment in Quetta has resulted in delay of $5.5 million yearly share of profit that was supposed to be released...

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ISLAMABAD: Amongst the other ill-effects, the Board of Governors (GoB) meeting’s adjournment in Quetta has resulted in delay of $5.5 million yearly share of profit that was supposed to be released by the International Cricket Council (ICC) to Pakistan shortly.

Approval of the audited accounts for the year 2017-18 was the top agenda item of the BoG’s meeting. Since the meeting was adjourned without approval of any item on agenda, there would be a definite delay in the release of profit share from the ICC.

It is pertinent on every member country of the ICC to submit approved audited accounts for the release of its share of profit from the ICC.

Since no approval was given to the audited report by the BoG, the ICC is unlikely to release the pending profit to the tune of $5.5 million in near future.

“Yes, it is a big jolt for Pakistan cricket. At least this agenda point should have approved by the GoB enabling the release of due amount,” a former Test cricketer, who is now part of the Pakistan Cricket Board (PCB), said. He added that the country required boosting its foreign currency account. “Sadly the tussle resulted in delay.”


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