Audit reveals PCB lost millions due to irregularities in first two PSL seasons

Pakistan Cricket Board (PCB) suffered huge losses, running in millions of rupees, due to irregularities, during the first two seasons of Pakistan Super League (PSL), a special audit report has revealed.

According to Dawan, the report, which was presented before the Pakistan National Assembly on Monday, PCB lost Rs 248.615 million for paying PSL franchisees excess amount as against the agreed share of central pool.

Awarding irregular compensation to the franchisees further forced it to incur loss of Rs 54.49 million.

The audit report, for the year 2017-18, talks about irregularities in payments and failure to recover due from the franchisees, advance payments to the vendors, TA/DA to journalists and members of board of governors.

It further claims that PCB didn’t recover Rs 32.05 million from the franchise and failure to estimate the cost of production of PSL 2 final resulted in excess expenditure.

It also accused PCB of making unauthorised and unlawful transfer of PSL funds into third party bank accounts outside the country.

Failure to auction commercial broadcast rights has also resulted a loss of Rs 13 million.

PCB had given its reasons but the auditors rejected their explanations, the English daily reported.