Financial discrepancies of approx Rs 200 cr found in audit of first two editions of PSL

[Savak]

Financial discrepancies of approx Rs 200 cr found in audit of first two editions of PSL

PTI | Oct 1, 2020, 17:49 IST

KARACHI: Pakistan Cricket Board chairman Ehsan Mani has admitted that financial discrepancies to the tune of around Rs 200 crores had been found in the audit of first two editions of the Pakistan Super League

Appearing before the Public Accounts Committee of the National Assembly on Wednesday, Mani faced a tough time fielding queries from the members who were offended when he claimed that the PCB is an autonomous body and he didn't personally look into every audit report.

In remarks before the committee and later to the media, Mani admitted that there was financial bungling in the first two editions of the PSL to the tune of some 200 crores rupees.

The PAC has told the PCB chairman to complete a departmental inquiry/audit of the financial discrepancies in the PSL and submit a report to it within a month.

According to the Auditor General of Pakistan's office, which carried out an audit of the first two editions, the financial discrepancies happened because of unauthorized payments to the five franchises from the central pool of revenues.

Allegations also emerged at the PAC that perhaps some of the franchises were undersold at the launch of the PSL due to which the PCB suffered a loss of around $1.1 million dollars.

PAC chairman, Rana Tanvir, reminded Mani that since he was heading an institution he was responsible for everything that happened in the past or present in the board.

Rana also told Mani that the PCB will have to give details and explanation for every paisa spent by the board to the PAC and AG office.

The committee also looked at the special audit carried out by the auditor general's office of the first two editions of the PSL in which the financial issues have cropped up.

Later Mani told the media that he had already pinpointed out to the franchise owners that their financial models had issues and needed to be improved.

He admitted that some financial discrepancies had been pinpointed in the audit report of the first two editions but the experts and the PAC were now looking at the matter.

The current six franchises of the PSL have taken the PCB to the Lahore High Court to have the PSL Financial Model changed.

Hearings have been held since yesterday on the franchisees petition which claims that while they have suffered losses of billions of rupees in the last 5 years the PCB has made big profits because of the financial model employed by the PCB

Link: https://timesofindia.indiatimes.com...-editions-of-psl-pcb/articleshow/78428659.cms

 

[Savak]

PCB answerable to PAC, Ehsan Mani told

Malik Asad

Updated 01 Oct 2020

ISLAMABAD: The Public Accounts Committee on Wednesday made it clear that the Pakistan Cricket Board (PCB) is answerable to the committee which is the apex accountability forum of the country.
At the outset, PCB chairman Ehsan Mani contested that the Board is autonomous.

However, the Auditor General of Pakistan Revenues (AGPR) as well as the parliamentarians ruled the otherwise.

Following the PAC meeting, Senator Sherry Rehman tweeted, “In Public Accounts Committee the PCB Chairman is unable to respond to any query, saying that he is “autonomous”, evoking a storm of questions and rejoinders. AGPR and I informed him he is answerable to govt, it’s accounting procedures and therefore it’s rules! It is NOT above law.”

The PAC was convened under the chairmanship of Rana Tanvir Hussain. The committee examined the audit paras of the PCB for the financial year 2018-19.

The audit authorities informed the court that due to Covid-19, the audit of the accounts related to PSL-4 has been delayed. However, they said that the audit has now resumed.

According to the audit authorities, the PCB did not share the financial reports of PSL-1 and PSL-2 adding that PSL franchises also went in litigation with the PCB in the Lahore High Court.

Mani said the Board is answerable to the PAC and he himself presided the departmental accounts committee.

The committee expressed its displeasure over the PCB chairman’s non-preparedness and suggested him to get briefing from the chief financial officer before attending the meeting.

The PAC also asked Mani to submit a comprehensive report related to the financial matters of the PCB.

Published in Dawn, October 1st , 2020

Link: https://www.dawn.com/news/1582496/pcb-answerable-to-pac-ehsan-mani-told

 

[Savak]

The PSL Franchise owners are complaining about having lost billions but according to these audited reports, these Franchise owners have been over paid. What is the truth?

 

[Bewal Express]

Rana Tanvir claimed that Mani was responsible for Sethis corruption and mismanagement. Shouldn't he call Sethi to the stand

 

[Saj]

There may be a few individuals feeling a bit nervous and uncomfortable about this.

There were always allegations about this, let's see if the facts are revealed or brushed under the carpet.

 

[JattMaula]

Greedy people have emerged after PCB hit a jackpot of half billion real US dollars.

 

[Bewal Express]

There may be a few individuals feeling a bit nervous and uncomfortable about this.

There were always allegations about this, let's see if the facts are revealed or brushed under the carpet.

The PCB never changes and nothing will come of it. Sethi was lauded by some on here but he isn't the only one that needs to explain.

 

[cricketjoshila]

Thats 100cr INR and $ 12.5mn.

Hamare idhar ke log chori mein kya maahir hai.

Mauka de do, fort knox gayab kar denge pata bhi nahi chalega.

 

[JattMaula]

Mauka de do, fort knox gayab kar denge pata bhi nahi chalega.

And then they will sell it back to you. :sethi

 

[Saj]

Keep fleecing from the hen that lays the golden eggs.

It will never end, and then people wonder why Pakistan cricket is lagging behind other nations.

 

[cricketjoshila]

And then they will sell it back to you. :sethi

Ofcourse, that goes without saying.

 

[leg-side-flick]

Keep fleecing from the hen that lays the golden eggs.

It will never end, and then people wonder why Pakistan cricket is lagging behind other nations.

It happens everywhere, not unique to PCB

 

[MenInG]

PCB did not audit its 2020 accounts, revealed in National Assembly

According to the documents submitted in the National Assembly, it has been revealed that the Pakistan Cricket Board (PCB) did not audit its accounts for the year 2020. The board has only submitted details of income and expenditure for the 2019.

An in-camera session of the National Assembly Standing Committee on Inter-Provincial Coordination was called after the cricket board sought sharing some sensitive information.

According to unaudited documents, the PCB had an income of Rs10.69 billion in 2019 of which it incurred expenditure of Rs5.94 billion.

In the same year, the cricketing authorities spent Rs620 million on repairs; Rs2.83 billion on domestic tournament; Rs1.06 billion on neutral and around the country venues and Rs2.83 billion on the national team’s tours abroad.

The standing committee was not provided details of national team’s within and out of country tours.

Before the current PCB chairman took charge, the cricket board had expenditure of Rs4.03 billion in 2017 and Rs5.13 billion in 2018.

The board also spent Rs610 million on the cricket trophy. It earned Rs4.27 billion from foreign tournaments and Rs5.41 billion from neutral and around the country venues.

The cricket board earned Rs230 million under the head of sponsorship and logo and Rs700 million through investment and interest. The standing committee was not informed about the investment and bank deposits.

The documents entail the details of medical allowance, TA/DA, domestic and foreign travel, accommodation and other facilities for the PCB chairman.

The PCB chairman and his wife are entitled to full health coverage in Pakistan while the board also pays for their emergency treatment abroad. Both have the facility of business class travel and accommodation in five-star hotels.

The chairman is paid a daily allowance of Rs10,000 while being in Pakistan and $300 daily on foreign tours. On a tour of UK, he is given a daily allowance of $400.

He is also entitled to TA/DA of Rs20,000 during the board meeting and allowed monthly expenditure of Rs50,000 on account of official expenses.

According to the documents, the chairman is authorised to have three servants. Ehsan Mani, the current chairman of the PCB, has been provided one cook and one servant.

He is entitled to use 2400cc car in addition to the facilities of mobile, Wi-Fi, and landline telephone.

According to the documents submitted in the National Assembly, it has been revealed that the Pakistan Cricket Board (PCB) did not audit its accounts for the year 2020. The board has only submitted details of income and expenditure for the 2019.

An in-camera session of the National Assembly Standing Committee on Inter-Provincial Coordination was called after the cricket board sought sharing some sensitive information.

According to unaudited documents, the PCB had an income of Rs10.69 billion in 2019 of which it incurred expenditure of Rs5.94 billion.

In the same year, the cricketing authorities spent Rs620 million on repairs; Rs2.83 billion on domestic tournament; Rs1.06 billion on neutral and around the country venues and Rs2.83 billion on the national team’s tours abroad.

The standing committee was not provided details of national team’s within and out of country tours.

Before the current PCB chairman took charge, the cricket board had expenditure of Rs4.03 billion in 2017 and Rs5.13 billion in 2018.

The board also spent Rs610 million on the cricket trophy. It earned Rs4.27 billion from foreign tournaments and Rs5.41 billion from neutral and around the country venues.

The cricket board earned Rs230 million under the head of sponsorship and logo and Rs700 million through investment and interest. The standing committee was not informed about the investment and bank deposits.

The documents entail the details of medical allowance, TA/DA, domestic and foreign travel, accommodation and other facilities for the PCB chairman.

The PCB chairman and his wife are entitled to full health coverage in Pakistan while the board also pays for their emergency treatment abroad. Both have the facility of business class travel and accommodation in five-star hotels.

The chairman is paid a daily allowance of Rs10,000 while being in Pakistan and $300 daily on foreign tours. On a tour of UK, he is given a daily allowance of $400.

He is also entitled to TA/DA of Rs20,000 during the board meeting and allowed monthly expenditure of Rs50,000 on account of official expenses.

According to the documents, the chairman is authorised to have three servants. Ehsan Mani, the current chairman of the PCB, has been provided one cook and one servant.

He is entitled to use 2400cc car in addition to the facilities of mobile, Wi-Fi, and landline telephone.

https://tribune.com.pk/story/2316170/pcb-did-not-audit-its-2020-accounts-revealed-in-na

 

[MenInG]

<blockquote class="twitter-tweet" data-partner="tweetdeck"><p lang="en" dir="ltr">CONTRARY to media reports, PCB financial records are completely up to date. Audited Financial Statements till Fiscal Year 30 June, 2020 are available in the Documents section of the PCB website (<a href="https://t.co/4W9hCCyVcG">https://t.co/4W9hCCyVcG</a>). <a href="https://t.co/nZaT0R3DqM">pic.twitter.com/nZaT0R3DqM</a></p>— PCB Media (@TheRealPCBMedia) <a href="https://twitter.com/TheRealPCBMedia/status/1427973240799043591?ref_src=twsrc%5Etfw">August 18, 2021</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>


<blockquote class="twitter-tweet" data-partner="tweetdeck"><p lang="en" dir="ltr">The financial audit for the fiscal year ended on 30 June 2021 is under way and the audited Financial Statements will be available by 31 December 2021.</p>— PCB Media (@TheRealPCBMedia) <a href="https://twitter.com/TheRealPCBMedia/status/1427973245094006788?ref_src=twsrc%5Etfw">August 18, 2021</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

 

[MenInG]

The Pakistan Cricket Board (PCB) has ended the tradition of releasing financial details of the chairman's expense, a board official confirmed.

This development implies that the financial affairs of the PCB chairman will be hidden from the public eye. Speaking on the matter, Media Director Sami Ul Hasan said that expenditure report was only provided during Ehsan Mani's era and it was not a norm before that.

Ehsan Mani laid the foundation of transparency according to the vision of then-PM and Patron-in-Chief Imran Khan - where all the reports were uploaded on the official website of PCB.

During Mani's era, a quarterly report regarding the chairman's expenditure was also issued which covered the period from 21 July 2021 to 21 September 2021. The report revealed that a total of Rs. 36,163,835 were spent.

Another report published on the board's website showcased PCB's expense of Rs. 150,424 which were spent on things including drivers, security guards, deal allowance, and business entertainment.

However, since then, no quarterly report has been made public in Ramiz Raja's tenure.

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