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PSL audit report reveal massive losses

PSL audit report reveal massive losses

Pakistan Cricket Board (PCB) has incurred huge losses, running in millions of rupees, due to irregularities, during the first two seasons of Pakistan Super League (PSL). The audit report dated 2017-18 was presented to the National Assembly and it said that the PCB had to bear a loss of PKR 248.615 million.

The audit report has highlighted irregular payments to franchises, lopsided advance payment to vendors, non-recovery of dues from the franchise, TA/DA to journalists and the members of Board of Governors.

The report detailed losses amounting to PKR 54.490 million and $11 million as a result of irregular compensation to franchises and arbitrary auctioning of the franchises respectively. Furthermore, PCB suffered a loss of PKR 13 million due to non-auction of commercial broadcast rights.