Delay in audit report delaying ICC fund for PCB

Karachi:

Hitches and delays by the Auditor-General's office in the finalisation of an audit report of the accounts of Pakistan Cricket Board has led to International Cricket Council (ICC) holding back payments to PCB which has added to the board's cash crunch situation.

A top official in the PCB confirmed on Monday that the PCB had not submitted audited accounts to ICC for the year ending June 2008 by the due deadline of December last year.

"This has led to the ICC as per their regulations and rules holding back our payments including our share of the recent Twenty20 World Cup which roughly amounts to USD two million," the official said on condition of anonymity.

This year PCB has so far held back the annual bonus payments for its frustrated employees. Neither they have received any win bonus for Pakistan's World Twenty20 victory as was the case in the past whenever the team won a series or tournament.

The board has also delayed approving the budget for its National Cricket Academy in Lahore.

"The problem is that the AG's office carried out an audit of the accounts for a four-year period ending September 2008 when Nasim Ashraf's board was replaced by the government," the official said.

He said the audit report was presently with the Ministry of Sports which will have to be approved by the chief patron of the board, President Asif Zardari, before it is made public or official and sent to the ICC.

"We can't even send our internal audit report for the fiscal year ending June 2008 as it concerns Nasim Ashraf's tenure which is under review by the AG's office," the official explained.

The AG's office had pointed out several discrepancies in the accounts of the board but the objections were later removed when former officials of PCB appeared before the AG and clarified their position.

The board official said there was no other issue for the delay in submitting audited accounts of PCB to the ICC which has made it clear that it will not release any funds if it does not get any report.

The PCB also gets annual development funding from the ICC besides shares from ICC tournament earnings.

The official said had it not been an advance payment of USD 140.5 million by Ten Sports under the television rights deal, the PCB would have faced serious financial crunch as it had to shell out a lot of money in recent months on administrative expenses, paying win bonuses to players and their central contracts.