Pakistan Cricket Board spent a whooping Rs1.08 billion on promotion of sport in last three years

Karachi: Pakistan Cricket Board (PCB) spent Rs. 1.08 billion on promotion of the sport in the last three years, according to a report submitted in Parliament.

As per the report which was submitted on Tueday, the PCB generated a revenue of Rs. 10.77 billion, thereby allowing the board a profit of Rs. 9.69 billion.

Earlier this month, the cricket board reviewed the audit report of the first edition of the Pakistan Super League (PSL) in its governing board meeting.

According to the Express Tribune, the findings of the report showed the profit earned by PCB - estimated to be USD 2.6 million - as well as the amount handed over to the five franchises, which was worth USD 2 million, leaving the board with USD 600,000 for itself.

The first edition of the PSL, held in February 2016 in the UAE, saw five franchises compete for the silverware with Islamabad United crowned as the eventual winners.

However, the franchise owners had made a complaint saying that the lack of time for marketing before the event didn`t allow them to generate profits.

Meanwhile, a PCB report appearing in December, 2016 revealed that the board officials wasted millions of rupees on international tours, with chairman Shahryar Khan alone spending Rs. 5.5 million on 14 tours