Things are Settling DOWN Between PCB and PSL Franchises

PSL Franchises

Things were heated a few days back between Pakistan Cricket Board (PCB) and Pakistan Super League (PSL) franchises. PCB had issued invoice on November 14th asking for immediate payments but franchises did not clear payments on due time.

Franchises were asking for tax exemptions from annual payment for which Peshawar Zalmi owner Javed Afridi met Chief Minister Punjab Usman Buzdar along with PCB chairman Ehsan Mani. A two-member committee comprising of Javed Afridi and Karachi Kings Owner Salman Iqbal was formed to further discuss tax issues with government officials.
However, things are looking in a good shape now as franchises have agreed to pay the fees. Before it, franchises decided not to pay until tax exemption but now franchises have decided to pay. The new deadline is December 3rd till 2 pm.

Two franchises have also asked to give back their bank guarantee so that they can pay the annual fee but PCB did not accept it. Some want PCB to take fees minus 26% tax while some want to pay on that value of dollar for which franchises were sold in the first attempt, but PCB has not agreed to any of franchises’ terms though Mani made franchises sure that he will look upon the matter and will solve in the best interest of franchises.
When franchises were bought in 2015, the dollar was 105 Rs in the country but now dollar has increased to 142 Rs which is creating problems for the franchises. It will bring a huge financial loss to franchises. Some franchises also want a significant share in title sponsorship and some other agreements.

Summary
Updated: December 12, 2018 — 9:58 am

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