BoG approves Rs7.78bn PCB operating expenditure budget for 2020-21

BoG approves Rs7.78bn PCB operating expenditure budget for 2020-21.

The Board of Governors (BoG) of the Pakistan Cricket Board (PCB) Friday approved the PCB’s annual budget.

BoG approves Rs7.78bn

The governors approved Rs 7.76 billion operating expenditure budget for the 2020-21 fiscal year.

Officials termed the amount 10 per cent less than the 2019-20 allocations.

This came as part of the PCB’s austerity, robust financial management and belt-tightening exercise.

During its second meeting of the year, 58th overall, PCB Board of Governors met via videoconferencing under the chairmanship of PCB Chairman Ehsan Mani.

Without compromising and reducing any activities compared with 2019-20, the PCB allocated 71.2 per cent of the overall budget for cricket-related activities. This is to ensure that despite tough financial situation due to COVID-19 pandemic, cricket remains unaffected and the PCB continues to invest in the future.

The allocated 71.2 per cent cricket budget includes 25.2 per cent for domestic cricket (events and players/match officials/player support personnel contracts and High Performance Centre costs), 19.3 per cent for international cricket (home/away series and player contracts), 5.5 per cent for women’s cricket (home/away cricket and player contracts), 19.7 per cent for HBL PSL 2021 and 1.5 per cent for Medical and Sport Sciences.

While forecasting shortfall in revenues due to the Covid-19 pandemic, which has left the fate of revenues from international events hanging in balance and may also affect PCB’s commercial programme, the BoG has agreed to continue investment on infrastructure development by approving a PS 1.22billion budget for capital expenditure, a reduction of approximately Rs 800 from 2019-20.

PCB Chairman Ehsan Mani said they followed a strict cost-benefit and value for money policy while preparing this budget.

He said PCB also took into consideration the economic situation due to the Covid-19 pandemic.

The budget caters for all critical business of cricket activities, while the nice-to-have activities have been set aside as part of our cost-cutting measures and to protect our reserves for the future.

GTV