PCB mulling heavy cost cutting in wake of severe financial crisisNovember 19th, 2008 - 4:21 pm ICT by ANI
Lahore, Nov 19 (ANI): Facing a severe financial crunch caused by the spate of postponed series and tournaments in 2008, the PCB is reportedly planning to cut down heavily on the administrative expenditure incurred in running the organisation.
According to The News, Wasim Bari, who was recently appointed as Director HR and Administration, is keen on trimming expenses. Needless appointments made to the board will be terminated to reduce the overall expenditures, the paper quoted him as saying.
Three areas will be looked at in particular to cut down costs, the paper said and added that general administrative costs are to be cut down by at least 50 percent. The budgets of each director and their department will also be revised this time based on more accurate forecasts.
Capital expenditure on stadiums through the country will be halted, but the Gaddafi Stadium in Lahore and Rawalpindi would be the exceptions where the renovation work is yet to be completed, added the paper.
Pakistan suffered heavy losses this year after Australia pulled out of a full series in March-April and the Champions Trophy was postponed, both due to security concerns. (ANI)
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