PCB presents a surplus budget after two years
The Pakistan Cricket Board has broken a spell of deficit budgets by announcing a surplus budget for the current fiscal year.Updated: Jul 08, 2010 02:50 IST
The Pakistan Cricket Board has broken a spell of deficit budgets by announcing a surplus budget for the current fiscal year.
The budget, approved on Wednesday at a meeting of the General Council in Lahore, envisages projected revenues of 2.6 billion rupees and expenditures of 2.3 billion rupees.
"One (reason) is the International Cricket Council has finally released our share of funds from the organisation of ICC events after we submitted them audited reports of previous budgets and secondly we are curtailing expenses and reducing manpower in the Board," PCB Chairman Izaj Butt said.
He said the Board still had surplus staff of around 70 to 75 percent but he had already implemented a downsizing policy with the approval of the government.
"In the past the same work being done by a hundred people was being done by around 1200 persons. We have reduced the strength to around 600 now," he added.
PCB chief said once international cricket resume in Pakistan or bilateral cricket resume with India, the financial health of the Board would further improve a lot.
For the last two fiscal years the board has been announcing deficit budgets.
Butt said that the projected expenditures included expense of organising home series abroad, salaries and fees to players, development of grounds and stadiums and administrative expenses which would leave the board with a surplus of 0.3 billion rupees.
First Published: Jul 08, 2010 02:49 IST