PAC wants PCB chairman to explain financial position

ISLAMABAD: The Pakistan Cricket Board (PCB) on Wednesday dispelled the impression that the Champions Trophy was a huge loss to the board’s kitty, making it clear that the upgradation work was not the part of the expenses for mega event.

PCB’s Chief Financial Officer (CFO) Javed Murtaza, who appeared before the NA Public Account Committee (PAC), said there were no losses as it was an ICC event.

Junaid Akbar said that speculations are there that the PCB only fetched Rs1 billion against Rs30 billion expenditures.

“These rumours are not true as the ICC budget for the Champions Trophy was $7crore. The investment in upgradation of stadiums was part of the PCB plan approved by the Governing Board. We could not invest in these stadiums for years. These stadiums’ upgradation was required considering the growing demands of international cricket,” he said.

The PAC chairman directed the concerned to submit all the details of Champions Trophy’s expenditures with the PAC in next meeting. Junaid Akbar also asked Chairman PCB Mohsin Naqvi to appear before the committee in the next meeting.

The PAC members also expressed concern about the undistributed Rs2 billion from the PSL 8 earnings.

“The audit report pinpoints the matter regarding the pending Rs2 billion PSL 8 amount. Some more issues and matters required celerity in special context with the recently revealed audit,” Chairman PAC said.

He added that unless and until the PCB chairman appears before the committee, the members would not be in a position to get a better picture.

Junaid Akbar directed the PCB chairman to appear in the next committee meeting.

The members were also unhappy with Mohsin Naqvi’s absence despite getting the invitation. Secretary Cabinet added that the PCB Chairman was busy with Balochistan and other security measures.

Senator Fawzia Arshad suggested to the PAC Chairman that he has all the powers to summon the PCB chairman using his authority.

“I don’t want to spend the rest of my life in jail,” Junaid Akbar said.

Syed Naveed Qamar said as a PAC Chairman Junaid Akbar has many other options available to ensure his presence in the committee meeting. “You can also use magistrate powers to ensure any individual’s presence if he continues to stay away for one reason or the other.”

Meanwhile, when ‘The News’ approached the PCB on the Champions Trophy expenses, the official said that the ICC and FCA approved $70m as event operations cost for CT25 at the Colombo AGM in 2024. Event operation costs include players/officials’ logistics, boarding, fees, prize money, broadcast/production etc.

“The PCB received $6m as host fee, which any country will receive for hosting an ICC major event. In addition to the hosting fee, the host country (Pakistan in this case) will receive gate and hospitality earnings.”

The official added that all CT25 operational costs were covered by the event budget. PCB host fee is safe and secure.

On investment made to upgrade three stadiums for the event, he said: “Ahmedabad Stadium was not built from the ICC CWC 2023 earnings/costs, it was an investment for the future. The same philosophy applies to FIFA World Cups and the Olympics, where brand-new facilities are created. As regards GSL and NSK, these were last upgraded for the CWC 1996 and since CT25 was the first event after 29 years, it was appropriate that these two venues undergo renovation/redesign/rebuild and refurbishment. Also, this was a PCB budgeted expense, approved by the PCB Board of Directors!”

On PSL-8 Rs 2 billion amount the PCB official said that audit para has long been settled down. “Payment was distributed accordinly. There is no pending amount with PCB from PSL-8 now.”