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

PCB agrees to super league’s audit by AGP


April 17, 2018

ISLAMABAD: The Pakistan Cricket Board (PCB) has accepted the proposal by the National Assembly Standing Committee on IPC to conduct audit of Pakistan Super League’s first two editions through the Auditor General of Pakistan (AGP) at the earliest.

Talking to ‘The News’ following the committee’s in-camera meeting on 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 PSL’s first two editions was supposed to begin today. Since all concerned PCB officials including the chief operating officer, finance officer and myself will be abroad in the next few days, we have requested the AGP to start the audit once we get back.”

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

He 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 the board’s annual audit. Conducting an independent audit has been our policy. Now we are ready for the AGP audit.”

Sethi disclosed that the board earned $3 million each from first two PSL editions while the profit margin was estimated to over $5 million from the third edition.A two-page PCB audit report was also handed over to the committee. However, it was observed that the authentic audit from AGP will be accepted.

The committee members were also interested to get an update from PCB on PSL earning through gate money and sponsorship. “According to my understanding, the HBL alone is doling out Rs200 million annually for the PSL title sponsorship.”

The PCB chairman informed the committee 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.”

The NA committee 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,” they observed.

Sethi, who was accompanied by his advisor Shakil Shaikh and PCB COO Subhan Ahmad, briefed the committee on the possible outcome of legal battle against the 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 the Indian board and hopefully would get justice.”

The committee praised PCB efforts for bringing international cricket back to Pakistan. They hoped that the majority of matches of the fourth edition would be organised 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