PAC wants PCB chairman to explain financial position

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ISLAMABAD: The Pakistan Cricket Board (PCB) on Wednesday eliminated the impression that the Kitty of the Champions Trophy Board was a huge loss, which made it clear that the upgrade work was not part of the mega event costs.

PCB Chief Financial Officer (CFO) Javed Murtaza, who appeared before the NA Public Accounts Committee (PAC), said that the ICC incident was because it did not hurt.

Junaid Akbar said that there are speculation that PCB has received only Rs 1 billion against the cost of Rs 30 billion.

He said, “These rumors are not correct because the ICC budget for the Champions Trophy was $ 7 million. In the upgrade of stadiums, the investment was part of the PCB plan approved by the Governing Board. We could not invest in these stadiums for years. The demand for international cricket was increasing.”

The PAC chairman directed the concerned persons to present the Champions Trophy costs with the PAC at the next meeting. Junaid Akbar also asked Chairman PCB Mohan Naqvi to appear before the committee at the next meeting.

PAC members also expressed concern over Rs 2 billion worth of income from PSL8’s income.

Chairman PAC said, “The audit report indicates a case related to the pending pending Rs.

He added that unless the PCB chairman appears before the committee, members will not be in a position to get a better picture.

Junaid Akbar directed the PCB chairman to appear in the next committee meeting.

Despite the invitation, the members were also unhappy with the absence of Mohan Naqvi. The secretary cabinet added that PCB chairman Balochistan and other security measures were engaged in security measures.

Senator Fauzia Irshad advised the PAC chairman that he had all the powers to ask the PCB chairman using his authority.

“I don’t want to spend the rest of my life in jail,” said Junaid Akbar.

Syed Naveed Qamar said that as PAC Chairman Junaid Akbar has many other powers to ensure his presence in the committee meeting. “You can also use magistrate powers to ensure the presence of an individual if it stays away for some reason or for some other reason.”

Meanwhile, when ‘The News’ contacted the PCB at the Champions Trophy costs, the official said that the ICC and the FCA approved $ 70 million as the cost of event operations for CTT 25 in Colombo AGM in 2024. The event’s operation costs players/officials logistics, boarding, fees, prize money, broadcast/production, etc.

“The PCB received $ 6 million as a host fee, which any country will receive to host the ICC program. In addition to the hosting fee, the host country (in this regard) will earn a gate and hospitality income.”

The official added that all CT25 operational expenses were included in the event’s budget. PCB host fees are safe and secure.

Regarding the investment made to upgrade three stadiums for this program, he said: “Ahmedabad Stadium was not built at the income/expenditure of ICCWC 2023, which was an investment for the future. The same philosophy was applied to the FIFA World Cup and the Olympics, where it was appropriate for the C -SWL, and the C -STA -STE. Going through nine and renewal, it was also in the PCB budget, which was approved by the PCB Board of Directors.

The PCB official said that the audit paragraph has been resolved for a long time. “The payment was distributed to a certain extent. With the PCB, there is no pending amount from PSL 8.”