Recent reports suggest that auditors have uncovered substantial irregularities, including non-transparent contracts and significant losses totaling Rs14 billion, in the financial records of the Pakistan Super League (PSL).
Documents indicate that the Pakistan Cricket Board (PCB) engaged in a non-transparent contract valued at Rs1.4 billion for the sale of TV broadcasting rights.
The PCB suffered financial losses of Rs908 million due to an irregular advance payment made to vendors for services, a lapse attributed to the absence of well-defined financial rules, as highlighted in the report by the Auditor General of Pakistan (AGP).
Additionally, the non-authorization of one of the joint bidders for TV broadcast rights for PSL 7-8, totaling Rs4.3 billion, along with an irregular renewal of the percentage share of franchisees for the central pool of income, resulted in a further loss of Rs1.6 billion, as indicated in the audit report.
The audit report reveals that the PCB board granted a non-transparent contract worth Rs1.4 billion for the sale of TV broadcasting rights, violating clause 3(3) of PCB Constitution SRO 43(KE)/2014, which underscores the importance of transparent operations.
The agreements with M/S Techfront and M/s Blitz for the sale of Global and Local TV broadcasting rights led to a failure in recovering the Global Live Streaming amount, totaling Rs194.741 million.
