PCB decides against writing off Rs10 million loan to PHF
Country’s cricket body had given the amount in 2000 to participate in Sydney Olympics
PHOTO COURTESY: PCB
LAHORE:
Pakistan Cricket Board’s (PCB) Chief Operating Officer Subhan Ahmed on Friday wrote a letter to Pakistan Hockey Federation (PHF) announcing that the Rs10 million loan given by the country’s cricketing body cannot be waived off as a grant.
Three days ago, PCB Chairman Shaharyar Khan said in a press conference that PHF wants to write off the loan given in the year 2000 and they have discussed the matter during a Board of Governors' (BoG) meeting and asked the Inter Provincial Coordination ministry for advice.
However, now the cricket board has decided it cannot write off the loan as grant-in-aid. “The matter was deliberated in detail in a BoG meeting held in Lahore on November 8, and it was decided that the loan cannot be written-off as grant-in-aid,” said Subhan Ahmad in the letter.
PCB asks PHF to return Rs10m loan
Further, PCB has urged PHF officials to hold talks on the method and timelines for repayment of the loan.
Meanwhile, PHF Secretary Shahbaz Ahmad Senior told Express News that the federation will look into the matter after concluding current meetings in Dubai, United Arab Emirates.
Last month, the cricket board had asked PHF to return the loan that it gave to the latter under the chairmanship of General (Retd) Tauqir Zia. The amount was given to the hockey team which was due to participate in the Sydney Olympics in the aforementioned year. However, PCB later revealed that it was a loan and the PHF would have to return it.
Current management not responsible for 'irregularities' committed in past: PHF
Officials from both sides first met to resolve the issue on March 10, 2011 at the National Cricket Academy where it was mutually agreed that hockey federation would return this amount in instalments.
Although the number of installments was not agreed at that time, but PCB sent another letter on January 10, 2012 in which they suggested that there should be at least 10 installments to clear this amount.
“We request PCB to declare this loan of Rs10 million as a grant like Bangladesh, where government has announced a policy which pushed Bangladesh Cricket Board to give 5% of their income to the national game,” said PHF Secretary Shahbaz Senior previously told The Express Tribune.
Pakistan Cricket Board’s (PCB) Chief Operating Officer Subhan Ahmed on Friday wrote a letter to Pakistan Hockey Federation (PHF) announcing that the Rs10 million loan given by the country’s cricketing body cannot be waived off as a grant.
Three days ago, PCB Chairman Shaharyar Khan said in a press conference that PHF wants to write off the loan given in the year 2000 and they have discussed the matter during a Board of Governors' (BoG) meeting and asked the Inter Provincial Coordination ministry for advice.
However, now the cricket board has decided it cannot write off the loan as grant-in-aid. “The matter was deliberated in detail in a BoG meeting held in Lahore on November 8, and it was decided that the loan cannot be written-off as grant-in-aid,” said Subhan Ahmad in the letter.
PCB asks PHF to return Rs10m loan
Further, PCB has urged PHF officials to hold talks on the method and timelines for repayment of the loan.
Meanwhile, PHF Secretary Shahbaz Ahmad Senior told Express News that the federation will look into the matter after concluding current meetings in Dubai, United Arab Emirates.
Last month, the cricket board had asked PHF to return the loan that it gave to the latter under the chairmanship of General (Retd) Tauqir Zia. The amount was given to the hockey team which was due to participate in the Sydney Olympics in the aforementioned year. However, PCB later revealed that it was a loan and the PHF would have to return it.
Current management not responsible for 'irregularities' committed in past: PHF
Officials from both sides first met to resolve the issue on March 10, 2011 at the National Cricket Academy where it was mutually agreed that hockey federation would return this amount in instalments.
Although the number of installments was not agreed at that time, but PCB sent another letter on January 10, 2012 in which they suggested that there should be at least 10 installments to clear this amount.
“We request PCB to declare this loan of Rs10 million as a grant like Bangladesh, where government has announced a policy which pushed Bangladesh Cricket Board to give 5% of their income to the national game,” said PHF Secretary Shahbaz Senior previously told The Express Tribune.