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PCB suffered Rs 84 cr loss due to postponement of Oz tour
Australian News.Net
Friday 9th May, 2008 (ANI)
Islamabad, May 9 : The PCB had suffered a huge loss of Rs 84 crore due to the postponement of the Aussies tour which was to take place in March this year.
This was revealed by a PCB spokesman at a meeting of the Senate Standing Committee on Sports at the Parliament House.
The meeting was convened to get details of the PCB accounts with specific focus on deposits from December 2004 till May 2008, details of Board's monthly budget from January 2005 till May 2008, information regarding banks where the PCB had deposited its funds, the criteria for the selection of financial institutions, and return on accounts on annual basis.
The PCB official informed the Senators that the Board was facing losses of millions due to refusal of international teams to visit Pakistan in the ongoing financial year. He said that PCB had to spend a lot of funds on the development activities and tours of teams like Bangladesh, Zimbabwe and South Africa.
"But we could not add to our funds because the money we were expecting from the Australian series was not materialized," the Daily Times quoted him as saying.
He added: "The board is expecting to earn even more money during the upcoming financial years because Asia Cup, Champions Trophy and Indian series are scheduled to be held in Pakistan."
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