Dollar rate is a matter of concern for the team owners
Majority of the Pakistan Super League (PSL) franchises are reluctant to share financial details with the Pakistan Cricket Board (PCB) due to differences over dollar rate.
According to details, PSL team owners want the PCB to fix the dollar rate, for franchise fee, in the same manner as they did for title-sponsoring company. For the fifth edition, payments were made at a rate of 138 but it was decided that a financial firm’s services will be acquired to resolve this matter in the future.
KPMG International Cooperative, which has three lines of services including financial audit, tax, and advisory, was put in charge of the matter, later. Although, despite the culmination of the two-week deadline, franchises are yet to come forward and submit their financial details.
The PCB is keen on fixing the dollar rate at Rs.156 and lack of response from franchises could lead to payments being made on that rate. The remaining amount could also be deducted from the central income pool.
It must be noted that fifth edition of PSL was suspended, due to novel coronavirus (Covid-19) pandemic, before the beginning of playoffs stage of the event.
The views expressed by the writer and the reader comments do not necessarily reflect the views and policies of Cricket Pakistan.
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