[REPORT] Audit uncovers major financial mismanagement in PCB for 2023-24

[BouncerGuy]

As per reports:

The Auditor General of Pakistan has uncovered over Rs6 billion in financial irregularities within the Pakistan Cricket Board (PCB), including unauthorized payments, non-transparent contract awards, and irregular appointments.

Highlights include:

Unauthorized Expenditures: PCB’s utility reimbursements and benefits given to top officials challenged; audit recommends recovery.

Irregular Hiring: Director Media appointed without due process on the same day of application; U16 coaches hired without meeting eligibility criteria.

Meal Charges to Police: Rs63.39 million paid for VVIP security meals—audit dismissed PCB’s justification, citing government’s responsibility for security.

Non-competitive Contracts: Multiple contracts (ticketing, surface travel, media rights) awarded without open competition, causing major financial loss.

Other Concerns: Office rent paid on fictitious lease; overpayments to match officials; Rs5.3 billion in sponsorship not recovered.

 

[BouncerGuy]

@Hitman Here

 

[Hitman]

@Hitman Here

Thanks! I tried searching whether the news has been already posted or not. Unfortunately couldn't locate this thread.

 

[BouncerGuy]

Thanks! I tried searching whether the news has been already posted or not. Unfortunately couldn't locate this thread.

We try not to miss important stuff... Don't worry

 

[Vikram1989]

24 -25 financial year report will eclipse this miniscule match up.entire ct funds must have utilised in line.

 

[GoUgandaCranes]

The cost of wrongly allocated contracts is not just in the monetary value of the task at hand but future loss of hundreds of jobs and the end of entrepreneurship culture.

Why would anyone competent from the middle class ever want to start a company when they already know that they will never make it big because a nepo baby will get all the contracts because of their connections. That is a systemic issue, and that is why Pak will never truly be prosperous until we have a good system at place.