Karachi: Pakistan Cricket Board (PCB) chairman Ehsan Mani has admitted that financial discrepancies to the tune of around PKR 200 crores had been discovered in the audit of the first two editions of the Pakistan Super League (PSL).
Appearing earlier than the Public Accounts Committee of the National Assembly on Wednesday, Mani confronted a tricky time fielding queries from the members who had been offended when he claimed that the PCB is an autonomous physique and he did not personally look into each audit report.
In remarks earlier than the committee and later to the media, Mani admitted that there have been financial bungling in the first two editions of the PSL to the tune of around PKR 200 crore.
The PAC has advised the PCB chairman to finish a departmental inquiry/audit of the financial discrepancies in the PSL and submit a report back to it inside a month.
According to the Auditor General of Pakistan’s workplace, which carried out an audit of the first two editions, the financial discrepancies occurred as a result of of unauthorised funds to the 5 franchises from the central pool of revenues.
Allegations additionally emerged on the PAC that maybe some of the franchises had been undersold on the launch of the PSL as a result of which the PCB suffered a loss of around $1.1 million.
PAC chairman, Rana Tanvir reminded Mani that since he was heading an establishment he was chargeable for every little thing that occurred in the previous or current in the board.
Rana additionally advised Mani that the PCB should give particulars and clarification for each paisa spent by the board to the PAC and AG workplace.
The committee additionally seemed on the particular audit carried out by the auditor common’s workplace of the first two editions of the PSL in which the financial points have cropped up.
Later Mani advised the media that he had already pinpointed out to the franchise homeowners that their financial fashions had points and wanted to be improved.
He admitted that some financial discrepancies had been pinpointed in the audit report of the first two editions however the consultants and PAC had been now trying on the matter.
The present six franchises of the PSL have taken the PCB to the Lahore High Court to have the PSL financial mannequin modified.
Hearings have been held since yesterday on the franchisees petition which claims that whereas they’ve suffered losses of billions of rupees in the final 5 years the PCB has made huge earnings as a result of of the financial mannequin employed by the PCB.