Can't connect right now! retry

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!
April 17, 2018

AGP to conduct audit of 1st two PSL editions


April 17, 2018

ISLAMABAD: Pakistan Cricket Board (PCB) has accepted National Assembly Standing Committee on IPC proposal to conduct Pakistan Super League’s (PSL) first two edition’s audit from Audit General of Pakistan (AGP) at earliest.

Talking to The News following in-camera Standing Committee meeting Monday, PCB chairman Najam Sethi said the Board was already in contact with the AGP and had no hesitation in going ahead with the proposal. “The audit of the first two editions of the PSL was supposed to begin from today. Since all concerned PCB officials including Chief Operating Officer and Financial Officer and myself would be abroad during next few days, we have requested the AGP to start the audit once we get back in country as we have to provide all the facts and other details to them.”

The PCB he said was always ready for such an audit. “We never opposed such an idea and even have offered audit from the AGP on our own. Now when the NA committee headed by Abdul Qahar Wadan has asked us, we are ready for the audit of first two editions.”

The PCB chairman said the audit has already been conducted as part of the Board policy. “Since the PSL is very much part of the PCB, we usually conduct its audit along with Board’s annual audit. Conducting an independent audit has been our policy. Now we are ready for AGP audit as soon as it is possible.”

Najam Sethi disclosed that the board earned $3 million each from first two PSL editions while the profit margin was estimated to over $ 5million from the third edition. A two-page audit report was also presented by the PCB to the committee. However, it was observed that authentic audit from the AGP will be accepted. The NA committee members were also interested to get an update from the PCB on PSL earning through gate money and sponsorship. “According to my understanding, the HBL alone is doling out Rs 200 million annually for PSL title sponsorship.”

The PCB chairman told members that he had never drawn a penny so far for his extra efforts. “I had to work day and night to ensure PSL success on all fronts. As yet I have not drawn a single penny for rendering my services for the PSL.” Committee members supported the idea that Najam Sethi must be allowed to take his due. “If you are working extra to manage PSL, you are entitled to draw a reasonable amount,” members observed.

Najam Sethi who was accompanied by his adviser Shakil Sheikh and COO PCB Subhan Ahmad briefed the NA Committee members on the possible outcome of legal battle against Indian refusal to play Pakistan even after signing MoU. “We are expecting decision from the recently formed ICC panel in October. We have a very strong case against Indian Board and hopefully would get justice.” The committee praised PCB efforts from brining international cricket and PSL matches to Pakistan hoping that fourth edition would see majority of matches to be hosted on home grounds.

Topstory minus plus

Opinion minus plus

Newspost minus plus

Editorial minus plus

National minus plus

World minus plus

Sports minus plus

Business minus plus

Karachi minus plus

Lahore minus plus

Islamabad minus plus

Peshawar minus plus