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PCB spent Rs 1.2 billion in 10 months

Agencies

Posted: May 08, 2008 at 1836 hrs IST
      

Karachi, May 8:: Giving a detailed account of its expenditure, the Pakistan Cricket Board on Thursday told the Senate standing committee on sports and culture that it has spent 1.2 billion rupees in the last ten months, a member of the committee said.

The details of the expenditure came to light when the board submitted a balance sheet and financial details to the Senate committee today during another hearing held to look into the affairs of the board and the cricket team.

The meeting was requisitioned by some members of the committee who want to probe into the financial affairs and bank accounts of the board.

The Senators sought details of bank accounts and expenditures from 2004 onwards.

The board is one of the richest organisations in Pakistan and operates independently of the National Olympic Committee and the National Sports Board which control the other bodies.

Senator Enver Baig said that the board officials had submitted account details today and had been given a questionnaire and told to come back with detailed answers by May 29.

“The balance sheet they gave us is pretty complicated and some things need to be clarified. But the details they gave us show they spent 1.2 billion rupees in 10 months and we have asked them to give us explanations about where this money was spent,” Baig, a vocal critic of the PCB Chairman Nasim Ashraf, said. More PTI COR AY AY 05081935 DEL SPORT PCB COMMITTEE 2 LAST He said the committee has reservations over the spending methods of the board as the teams graph had declined sharply since Ashraf took over in October, 2006.

“We want to know where all this money has gone when the performance of the team does not match or justify such expenditure,” he said.

Baig said the board would come back with more details on May 29 and the committee hopefully would give its recommendations on the issue by June 16.

He said the balance sheet showed the board has kept its funds in six different banks for which they have been asked to give a satisfactory explanation.

A senior board official said the PCBs financial status was good and improving despite the postponement of the Australian’s tour to Pakistan recently.

“We are getting returns of upto nine per cent on our funds now which is a very good rate and for the first time last year the board came out with a comprehensive monetary policy under which all spendings are done,” he said.

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