Pakistan: PCB Audit Report; Waqar Hasan cites irregularities (5 Mar 1998)

Thursday, March 05, 1998

PCB Audit Report; Waqar Hasan cites irregularities

By Our Sports Reporter

KARACHI, March 4: Former Treasurer of the Pakistan Cricket Board (PCB), Waqar Hasan, on Wednesday said he would think more than twice in future if it was worth taking up a post in the cricket setup if offered.

Talking to mediamen, he minced no words in saying that he felt embarrassed and humiliated "with the way I have been treated."

"To say that my services have been terminated, sounds cruel. I was working on an honorary basis and was not drawing any salary."

"I have a big business and enjoy a good standing and reputation in that circle. I feel that it has been dented though the Patron of the cricket board has all the right to do what he has done," a dejected former Test batsman told the press conference.

Waqar Hasan believed that vested interests must have misinformed the Patron.

"There is no guarantee that the same thing would not happen again if I am offered a job and I accept it. There will always be a possibility that I might receive a fax message again," he opined.

The soft-spoken Waqar, who was due to submit the audit report of the last two years, was unsure if his dismissal was a link to the General Body and Council meeting that was to take place on Sunday.

"I had traced massive financial irregularities in the last two years and several other gross abnormalities in the accounts. Naturally, I was to disclose to the mismanagement in that meeting."

"Probably, I have been deliberately stopped from doing that by the dismissal. I am not sure if I am right but I am confident that Hafiz Manzoor Husain (new Treasurer) will have to follow the same audit report that has been prepared by one of the world's best companies (M/S A.F Ferguson & Co.)," he said.

Waqar, who held a more than 200-page audit report, cited a few irregularities but first disclosed that the board had Rs. 90 million in its kitty.

"By the year end, the total revenue, as per budgeted figures, is expected to be in the region of around Rs 160 million," he said, adding: "This figure may be further augmented by the PCB's pending dues from the profit of the 1996 World Cup."

Waqar opined that the cricket board really flourished during 1996 that showed an appreciable rise from Rs 66.3 million to Rs 234.9 million which was mainly due to PCB's income from the 1996 World Cup.

Although, total expenditure during 1996 increased to Rs 203.3 million from the previous year's figures of Rs 79.9 million, Waqar continued, this was primarily due to the World Cup expenses amounting for Rs. 106.1 million.

"However, considering the financial lapses and irregularities it is my opinion that we could have added to our profits from the World Cup by about Rs 50 million," he said.

Pointing out the financial irregularities that surfaced during the audit, Waqar said there was no record available of World Cup tickets worth Rs 29.4 million that were withdrawn by the PCB "nor any acknowledgement for receipt of tickets amounting to Rs 22.6 million."

"Unsold tickets valuing Rs 70.5 million were still lying with the National Bank of Pakistan and the previous PCB hierarchy didn't make any effort to retrieve them. So much so, the bank also violated a Memorandum of Understanding it signed with the PCB to return the unsold tickets within two weeks," he lamented.

The former chairman of selectors disclosed that several irregularities were also highlighted by PCB's external auditors in respect of the construction and renovation work carried out at the National Stadium and Qadhafi Stadium during the period under review at the enormous cost of Rs 406.6 million.

Waqar said, PCB's deposit of Rs 3 million with Habib Bank Limited, Liberty Market Branch, Lahore, was nowhere recorded in PCB books.

Waqar, after briefing the newsmen, said he would be submitting his report to the PCB Chairman and the Chief Executive for appropriate investigations or inquiry. "But it depends on the PCB General Body or Council whether they want to proceed with the investigations or forget the past," he said.

Source :: Dawn (https://dawn.com/)