Most Pakistan Super League (PSL) franchises are reluctant to share financial details with the Pakistan Cricket Board (PCB) due to differences over the dollar rate.
According to the details, the owners of the PSL team want the PCB to set the dollar rate, for the franchise fee, in the same way they did with the title’s sponsoring company. For the fifth edition, payments were made at a rate of 138, but it was decided that the services of a financial company will be purchased to resolve this issue in the future.
KPMG International Cooperative, which has three lines of services including financial auditing, tax and consulting, was put in charge of the matter later. Although, despite the completion of the two-week deadline, the franchises have yet to come forward and present their financial details.
The PCB is interested in setting the dollar rate at Rs.156 and the lack of response from franchises could lead to payments at that rate. The remaining amount could also be deducted from the central income group.
It should be noted that the fifth edition of PSL was suspended, due to the new coronavirus pandemic (Covid-19), before the start of the playoff stage of the event.