Financial scam of Rs500 mln recorded in PCB

Friday, March 19, 2010 at 11:37 pm

Lahore, Pakistan:- Massive financial irregularities worth Rs500 million have been recorded within the Pakistan Cricket Board from year 2003 to 2008, reveals a report prepared by the Auditor General of Pakistan..

A new audit report of the Public Accounts Committee revealed that during the tenure of former Chairmen of Pakistan Cricket Board incurred loss of over five hundred million rupees to the board in the last five years by misusing their powers.

According to the report, PCB paid an additional bonus of ninety seven million rupees to its employees in 2003-08 which is against PCB rules and regulations. The report said that obtained from sources of the Auditor General, payment of fifty eight million rupees was paid without any solid reason and illegally for Pakistan versus Australia series in Feb-March 2008 in the tenure of former Chairmen of PCB, Shehrayar Khan and Naseem Ashraf.

The report also said that PCB had appointed Shafqat Naghmi as Chief Operating Officer against procedures.