PCB audit report to be reviewed on Saturday
The influential Public Accounts Committee of the National Assembly will review the special audit report on the finances of the Pakistan Cricket Board on Saturday.
The auditors have alleged several irregularities in their report, conducted by the Pakistan Auditor-General on the request of the sports ministry for the period July 1, 2003 to June 30, 2008.
The report alleged that PCB's annual expenditures have significantly increased from Rs 571 million in 2004 to Rs 737 million in 2005, Rs 832 million in 2006, Rs 1.024 billion in 2007 and a staggering Rs 1.8 billion in 2008.
Until now the PCB has functioned as a totally independent body which is not accountable to either the Pakistan Sports Board or the Sports Ministry as the Chairman is directly appointed by the President of Pakistan.
According to a report in 'Dawn' newspaper, the auditors have pointed out that PCB had a surplus budget of Rs 1.051 billion in 2004, which was reduced to a deficit of Rs 130 million in 2008.
The report also alleged that PCB chairmen including Lt General (retd) Tauqir Zia, Shaharyar Khan and Nasim Ashraf exercised unlimited financial and administrative powers in the audit period.
According to the report, the PCB entered into an agreement worth USD 42.6 million with a private TV channel for coverage of the games from 2003 to 2008 and despite repeated reminders no bidding documents were furnished for audit.
The audit also noticed what it termed wasteful expenditures on upkeep of 33 sports grounds in the country where the board has no direct control.
The board paid Rs 7.14 million to two consultants for development projects which were abandoned later on and kit bags at the cost of Rs 4 million were procured without floating tenders.
The finance committee of the PCB, in its meeting held in 2005, decided that its foreign currency accounts worth USD 1.1 million be liquidated in national currency and invested in local banks for better profits.
The decision was not implemented and the board had to suffer a loss of Rs 66.89 million.
Audit officials have also estimated a loss of Rs 5.88 billion due to failure of successive management decisions of the PCB to get its 58.8 acres of land vacated from illegal occupation around National Stadium Karachi.
On one occasion in June 2008, PCB chairman announced a bonus of Rs 19.50 million for players without mandatory approval of its board of governors.
Similarly, unsecured advances worth Rs 12.42 million were granted to fifteen officials. Likewise cars were purchased worth Rs 8 million without required approval.
