Excess payments to franchises become major problem for board – Express Urdu

The audits of the primary two editions revealed severe irregularities. Photo: File

Karachi / Karachi: Excess funds to PSL franchises have turn into a significant difficulty for the PCB, which has to elucidate to the Public Accounts Committee on Wednesday

The Public Accounts Committee, chaired by Rana Tanveer Hussain, will meet at 11 a.m. Wednesday at Parliament House, Islamabad. Special audits of PCB and PSL One and Two performed by the Auditor General of Pakistan on the event. Report shall be mentioned.

The 2018-19 report states that the franchisees incurred a lack of Rs. 54.490 million by compensating the franchisees towards their income. It needs to be famous that بعد 1.three million was paid to every franchise after the primary version. Approval was acquired through e mail solely.

Rejecting the PCB's response on this regard, it has been advisable to withdraw the quantity from the franchisees. The report mentioned that the board incurred a lack of Rs. 6.572 million when it comes to late fee surcharge. Illegal placement of the FO within the audit committee made it tough for the inner auditor to carry out his duties. PSL funds have been illegally transferred to 3rd occasion accounts outdoors Pakistan.

In PSL One held in 2016, a further Rs. 248.615 million was transferred from Central Pool to the accounts of franchisees towards the foundations, issues arose within the switch of cash from ticket gross sales, tax issues are additionally not appropriate, three franchises Contracts have been awarded in a non-transparent method, poor merchandising technique, occasion administration contracts have been questioned, and the 55-page report raised outrageous objections.

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