LAHORE: PSL’s capital was seized as Qarun’s treasure while alleged irregularities and non-transparent agreements worth billions of rupees were revealed in the accounts.
According to the report of the Auditor General of Pakistan, the contract of TV broadcasting rights worth 1.4 billion rupees is not transparent, 194740895 rupees could not be recovered for the global live streaming contract with Tech Front International FZE, the audit also revealed that late payment. No penalty was imposed.
A non-transparent in-stadia sponsorship rights contract of Rs 338 million with Trans Group FZE was revealed, PCB could not produce any evidence of tendering process, no document of bidding and reserve price was shared with the auditors. Similarly, the contract for local and international live streaming rights worth Rs 181.29 million (Techfront Rs 134.82 million, Blitz Rs 46.47 million) was also not transparent.
PCB could not produce any evidence of tender process, no documents of bidding and reserve price were shared with the auditors, similar contracts from Khalif and Transgroup FZE for graphic interface and truck branding rights worth 46.70 million respectively. And for these non-transparent contracts of Rs 15.09 million, no evidence of tender could be presented, nor were bidding documents given to the auditors.
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In PSL 6 accounts, Blitz Advertising was shown as a defaulting company due Rs 147490495, but surprisingly it was not blacklisted. A case of non-recovery of Rs 1,092,198 million in global TV broadcast fees from the Blitz has also come to the notice of the auditors.
The report also revealed irregular advance payments of Rs 908.94 million to vendors. A loss of Rs 53,743,689 has been exposed due to stoppage of construction work on the biomechanical laboratory at the National Cricket Academy, Rs 34.421 million due from the sale of hospitality boxes in PSL2020.
