Loud Thinking

Archive for the ‘Corruption’ Category

Ensure Corruption Doesn’t Pay..!

In Pakistan, every body knows that we are no less behind any nation in corruption.

The NAB chairman during last PPP government’s tenure of 2008-13, himself disclosed that the daily value of corruption in Pakistan, was a staggering amount of Rs.12 billion per day or Rs.4320 billion per year.

Now, this huge amount of corruption in Pakistan is more than the Rs.4.0 trillion budget of the country; and almost 17% of the country’s whole GDP of 250 billion USD.

A state bank report published today on 23 December, 2015 by the daily “Express Tribune” also sheds light on the very high level of “Informal Pakistani Economy” quoted as below.

Quote.

“Currency in circulation as a percentage of GDP is a measure that reflects the scale of the informal economy: a higher ratio means a larger informal economy and a heavier dominance of cash.

According to the SBP annual report, this ratio is 9.4% in Pakistan, which is the second highest after India (10.6%). It is 3.4% in Sri Lanka, 3.7% in Malaysia, 5.9% in Bangladesh and 7% in the Philippines.

Similarly, the ratio of broad money (M2) as a percentage of GDP is another proxy that helps determine the size of the undocumented economy. A lower ratio of M2-to-GDP reflects a larger informal economy. This ratio is 41.2% in Pakistan as opposed to 62.7% in Bangladesh and 76.7% in India.” Unquote.

Moreover, we are also no less behind in raising hue and cry against corruption.

But, the problem is that corruption can neither be curbed with hollow slogans nor by declaration of assets by the politicians and government employees.

Times of India reported on 19 November, 2011(Link:-http://timesofindia.indiatimes.com/india/Black-money-India-to-sign-agreements-with-42-more-nations/articleshow/10793795.cms) that After signing agreements with 48 countries, India will shortly ink pacts with 42 more nations to bring backblack money stashed abroad, Union minister of state for parliamentary affairs Harish Rawat said. Once these agreements are signed, India will be in a position to bring back black money stashed in different banks abroad, he told reporters here.

Corruption can only be minimised by deterrent legislation; which ensures that crime of corruption will not pay, neither in the short, nor in the long term.

And effective judicial verdicts, like the one announced today by the Delhi court in which former Indian 86 years old telecom minister Sukhram, has been sentenced for five years jail, for taking Rs 3 lakhs as bribe to give a lucrative contract to a private firm in 1996. He pleaded for leniency in court on grounds of his old age while the CBI called him a “habitual offender” and sought maximum punishment for him.The 86-year-old former minister was held guilty for misusing his official position during his tenure as telecom minister in P V Narasimha Rao’s cabinet in giving a contract worth Rs 30 crore to a private company, Haryana Telecom Limited (HTL), to supply 3.5 Lakh Conductor Kilometers (LCKM) ofPolythene Insulated Jelly Filled (PIJF) cables to the telecom department.

We in Pakistan, must realise that our main problem is not the existence of corruption. Rather, the fertile culture which help breeds corruption pay, as the most lucrative and profitable activity in Pakistan.

Till such time, we attack the very roots of this cancerous culture of corruption in Pakistan, no positive improvement should be expected in any sphere of life.
And we must be aware of the fact that, corruption is a bigger menace than terrorism.

Since, we have all the required institutions and no dearth of honest and honourable people, what is required is developing a system to post these DYNAMITE people to be head of NAB, FIA and Anti-Corruption departments of provincial governments.

Towards the achievement of this goal, a committee is proposed to be constituted, consisting of Chief Justice of Supreme Court, all Chief Justices of High Courts and leader of the opposition of National and all provincial assemblies, for appointing on a tenure post, all heads and key personnel of NAB, FIA and Provincial anti-Corruption departments.

Moreover, NO person in the country from civil, military, judiciary and any other department should have the immunity from interrogation, on corruption matters, before; these departments.

It is earnestly hoped that the above said mechanism if, put in place, will strike such a fear in the hearts of all and sundry, that no one will dare even think, of doing corruption in Pakistan.

 

Mr. Prime Minister please ask Mr. Ishaq Dar why his performance is NIL on this account which was your ELECTION promise also.

Indians declare $500 mn in black money in tax crackdown.

Link:- http://www.dawn.com/news/1210191/indians-declare-500-mn-in-black-money-in-tax-crackdown

Indians declare $500 mn in black money in tax crackdown
AFP — PUBLISHED ABOUT 2 HOURS AGO

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NEW DELHI: Indians declared $500 million in black money, the government announced Thursday, a fraction of the total amount feared hidden, as a deadline for coughing up assets hidden from the taxman expired.

Indian Prime Minister Narendra Modi took power last year pledging to crack down on black money, a systemic problem in India that sees billions of rupees hidden in foreign bank accounts or funnelled into property abroad.

The finance ministry said more than 600 tax evaders had made declarations by midnight on Wednesday — when a three-month window for unveiling stashes and avoiding prosecution ended.

The Indian ministry said “638 number of declarations have been received under the compliance window declaring undisclosed foreign assets,” amounting to 37.7 billion rupees.

The government has announced a string of measures to crack down on black money, including a 10-year jail term for evaders who get caught from now on.

But Ashutosh Kumar Mishra, executive director of Transparency International in India, doubted whether the government could find the money offshore given how deeply entrenched the phenomenon has become.

“It’s not easy. You need a set of clear reforms and determined political will and it will take years,” Mishra told AFP.

India is one of the most cash-intensive societies in the world, corruption is endemic, and strict tax laws encourage people to keep money off the official books.

Estimates of Indian black money abroad vary widely.

Some $439 billion left the country illicitly from 2003-2012, according to estimates from the Global Financial Integrity group in Washington.

The wealthy channel money to tax havens such as Switzerland or Singapore, convert it into jewellery, antiques, paintings or property, or send a relative abroad for half the year to avoid tax.

Only 2.89 per cent of Indians pay any income tax at all, India’s previous finance minister told parliament in 2013.

Dear Mian Muhammad Nawaz Sharif PM Pakistan.

Sir,

The below mentioned analysis of Mr. Asad Omar is really alarming and needs an impartial high level inquiry into the fact that why certain key indicators of Pakistan’s economy and business have gone down in your current tenure, to the level even below than than the previous PPP government led by Asif Ali Zardari during 2008-2013.

Quote.
“Pakistan’s ranking in the world economic forum global competitiveness index has dropped from 124th at the end of the Zardari era to 129th this year. The doing business report of the World Bank dropped Pakistan from 107th to 128th. The combination of this eroding competitiveness and the piling of exorbitantly expensive debt is sinking Pakistan further into a debt trap imperiling future generations of the country.”
Unquote.

Dear Mr. Prime Minister,

Sir,

Please peruse the below quoted analysis of Mr. Asad Omar, which is a fit case for a highest level inquiry to find out the reasons for playing with the economy and destiny of Pakistan right under your command:

Quote.” The Government in its latest offering last week was only able to sell 500 million dollars at a yield of 8.25% which is the same pricing it got last year when Pakistan had re entered the international bond market after several years gap. Everything else remaining the same the pricing this time should have been lower as there was no re entry premium to be paid. Hence, the markets were essentially saying that things are getting worse. Umar stated that comparison with recent bond issues by other emerging market countries makes for shocking reading. Just two examples would suffice. Kenya doing its first ever issue last year and raising 1.5 billion dollars at a yield of 6.875%. Similarly Sri Lanka just a few months back raised 650 million dollars at a pricing of 6.125% which is more than 2% lower than what Pakistan is going to pay!”Unquote.

---

 

Mr. Ishaq Dar, the nation wants to know why you issued Euro Bonds at 8.25% when for comparison, Nigeria’s dollar debt carries a yield of 7pc these days, and the average for other African and Middle Eastern countries surveyed by Bloomberg was 2.8pc?

Link:- http://www.dawn.com/news/1209679/analysis-eurobond-attracts-controversy

 

Analysis: Eurobond attracts controversy
KHURRAM HUSAIN —
THE latest Pakistani Eurobond, issued last week, has hit controversy even before the finance team has returned to the country.

Pakistan offered 10-year paper at an 8.25pc yield, and received bids worth $1 billion. The last Eurobond was issued in April 2014, when the government also targeted to raise $500 million, but attracted bids worth almost $6 billion and ended up raising $2bn from the exercise. The yield then was also 8.25pc.

The diminished participation, as well as the unchanged yield from the last bond offering in 2014, has led people to suggest that the exercise ought to have been delayed, since markets were still in the grip of jitters following a steady stream of unnerving news from China and hints from the US Federal Reserve that a hike in interest rates may be coming soon.

Also read: Pakistan issues $500 million Euro bond

According to data obtained from Reuters, Pakistan’s 10-year US dollar-denominated bond issued in April last year traded at 104.883 cents on Monday — still well above its issue price but below the record high of almost 110 cents hit earlier in the year. The premium suggests investors see those bonds as a lucrative asset, although it would be necessary to know how long they intend to hold the bond to determine whether the premium means the bonds may have been overpriced.

“It’s important to keep a presence in the private debt markets,” says a high-level source in the banking industry who closely follows the money markets, “but in this particular situation, the timing could have been changed in the light of negative sentiments in global markets. This bond is also likely to be traded at a premium right away, given its pricing.”

The finance ministry justified the issue, saying in a press release that it was necessary to cover repayment of a maturing bond of the same size that was issued in 2006. That bond matures in March. The ministry also saw it as a positive sign that despite difficult global conditions, “the bond was twice oversubscribed”.

Former State Bank governor Salim Raza agrees that the timing presented challenges, and adds it is reasonable to expect that the yield on this bond should have been lower than the last one. “With improvement in underlying inflation and current account flows, compared with the last issue, we should have seen a better coupon rate,” he says, expressing some puzzlement at the urgency with which the government pursued the bond. “Perhaps they have a reserve target in mind which would warrant additional borrowing.”

The relatively secure position of the reserves, at the moment, leaves many confused as to why it was necessary to go ahead with the exercise at a time when global markets are spooked by a sustained rout on Chinese stock markets as well as possibilities of rate hikes in the US.

“It really doesn’t make sense why they were so keen to pick up $500m at a high price when they have $18.5bn in reserves,” says Sakib Sherani, former adviser to the finance minister who has advised the government in earlier Eurobond flotations. “It’s not just $500m, it’s expensive $500m,” he says.

For comparison, Nigeria’s dollar debt carries a yield of 7pc these days, and the average for other African and Middle Eastern countries surveyed by Bloomberg was 2.8pc.

Pakistan’s credit rating was upgraded by Moody’s right after the budget this year. The credit rating agency cited “continued strengthening of the external payments position; and sustained progress in structural reforms under the government’s programme with the IMF” as the key reasons behind the move.

But on Sept 18, days before the bond exercise, it issued a more guarded assessment of Pakistan’s creditworthiness. That assessment, which assigned a provisional rating of B3 to the Eurobond, spoke of “factious relations between the executive, military and judicial branches of government” as well as “very low fiscal strength and high susceptibility to event risk” as key weaknesses holding back Pakistan’s creditworthiness.

That same assessment pointed to a key concern regarding the rising reserves: they are primarily driven by borrowed money. Moody’s said any strength in Pakistan’s creditworthiness stems from “support from multilateral and bilateral lenders”, underlining the importance of Pakistan’s relationship with international financial institutions like the IMF and the World Bank as principal drivers behind its strengthening reserves.

That concern appears to have been raised during the road shows leading up to the bond issue, prompting the federal finance secretary to say on record that Pakistan may yet consider another IMF programme once the current one ends next September. The secretary’s remarks indicate that investors attached high importance to Pakistan’s ongoing programme as a driver of reserve accumulation and sound fiscal management.

Despite its many problems, investors remain interested in Pakistani debt mainly because of the high yields that it offers, and an abiding faith that great powers will never let the country veer towards default. Pakistan’s external debt repayments eased in recent years as the major repayments to the IMF from the 2008 facility drew to a close. But in its last Annual Report, the State Bank cautioned that these are going to rise again from 2017 onwards, “with the onset of repayments of rescheduled Paris Club debt, Eurobonds” as well as repayments from the ongoing IMF programme. “This scenario emphasises the need for caution while framing debt management strategy of Pakistan.”

Published in Dawn, September 29th , 2015

 

These are defining moments for Pakistan.

If corrupt Mafia wins, Pakistan will forever, remain a Banana Republic.

However, if across the board accountability process succeeds, Inshallah, Pakistan will emerge as the most enviable nation in the world.

Currently, the situation is very delicately and evenly poised; and we have to keep our fingers crossed.

An open letter to the Prime Minister.

 

Mian Muhammad Nawaz Sharif,

AoA.

Sir,

Somehow, I know without any doubt that whenever, you pray or visit the Holy land for prayers at Khana-e-Kaaba and Masjid-e-Nabvi (SAWW), the well being and glory of Pakistan and its nationals, is always at the center of your heart, while bowing to Allah (ST) for prayers.

I also have a confirmed belief that Allah (ST) has given you the chance to become the Prime Minister of Pakistan for the third time, to take some special task. However, it is up-to you to make your best mental, physical or sincere efforts to achieve that special task, or pass the time in normal routines.

And to enable you to succeed in chosen task for you, Allah (ST) is slowly, but gradually, creating favourable circumstances and golden opportunities. And to see these favours of Allah (ST), one need to have the required vision, rather than the ordinary eyesight.

Here, my mind goes to a famous saying of Helen Keller, quoted as below:

“The only thing worse than being blind is having sight but no vision.”

In my humble opinion the mission Allah (ST) wants you to accomplish is the “THE CHANGE FOR GOOD OF THE DESTINY OF PAKISTAN AND ITS RESIDENTS”.

As you may be well aware; and we have seen and observed in our lifetime, the changing of destiny of many countries, which were even worse off than our nation, like China, Korea, Singapore, Malaysia, Indonesia, Gulf Emirates, Japan, Germany and many European countries completely and 100% devastated and ravaged by the wars.

Sir, your this tenure consists of a period of 5 years or 60 months, out of which 26 months (43+ %) have gone passed and only about 34 months are left.

As they say, better late than never. Still, if you are able to lead the nation to motivate, generate and channelize positive energy of 20 crore population, for rebuilding (by working DAY and NIGHT the remaining man-hours of 34 months can be converted into the man-hours of 68 months), Pakistan as one of the top ten countries of the world.

In this regard, one thing is absolutely clear that the hard work, sacrifices of personal comfort, absolute sincerity, impeccable honesty, elimination of VIP and SIFARISH culture, zero tolerance for (inefficiency, corruption, wastage of natural resources, nepotism and favouritism and no compromise on rule of law) must come from the Prime Minister himself, who should tighten his belt, to become the prime mover of all the engines of growth and development in the country.

We have witnessed in our times many examples of one man leadership of China, Malaysia, Singapore etc., changing the fate of their countries, single handedly.

Obviously, these leaders gave the blue print of their own vision to the next line of leadership, selected PURELY on merit, which was meticulously executed by the lower cadres of leadership.

Mian Nawaz Sharif Sahab, the biggest advantage you posses over those leaders discussed above, is the availability of very fast internet and super computers, which can perform the job of years in days.

Second advantage, which you can obtain is the unconditional cooperation of the entire population, to join your hands in the implementation of the vision of re-building a prosperous and developed Pakistan, if you can assure the nation that you are ready to work with all Pakistanis purely on merit, without any consideration of your relatives or party affiliation.

Third advantage, you will automatically obtain, in the shape of unqualified cooperation from the politicians, Judiciary, civil and military bureaucracy, professionals, businessman, labourers, students and farmers etc., if you can assure them that from now onwards, no appointment or case will be approved without merit. Also you will not disapprove dissent (in the national interest) coming from any level, as happened recently, in the case of a senior police officer, who was taken to task, for the reasons known to all and sundry.

This is necessary because a country of 20 crore population can not be controlled by a PM, CM or ministers. Every Pakistani working in the fields, factories or offices will have to perform his duty as if he was himself the PM of the country. You will have to make 20 crore PM’s who should be delivering their duties only having fear of Allah (ST) and fully abiding the law of the land.

Sir, in support of the completion of your vision (stated above) Allah (ST) has already bestowed Pakistan, with unimaginable and unbelievable advantages of China Pakistan Economic Corridor, reduction in oil prices, the nuclear agreement of Iran with the West and the huge success of operation Zarb-e-Azb shall INSHALLAH, result in huge economic, industrial and social benefits for Pakistan.

Mr. Prime Minister the die is cast for the change of the destiny of Pakistan. The time is waiting for you to grasp with both hands, the golden opportunity of the centuries, by announcing and taking the nation into full confidence, about your next 100 years plan (divided in 20 five years plans) for Pakistan.

Man is mortal his deeds can be immortal.

Kind Regards,

Syed Nayyar Uddin Ahmad

Many months ago in the year 2013, I passionately advised the PM to take personal charge of the affairs of the country, before these finance and foreign affairs advisors messed up the the whole thing and bring the government to its knees:

Mr. PM! you will have to take personal charge

 

H’able Mian Nawaz Sharif Sahab,

Salaam.

The above mentioned news reported today on 10 July, 2013, by the jang.com.pk that Saudi Arabia and UAE are providing (interest free and conditions free) cash and kind assistance of $8 billion to Egypt, further highlights the importance of my three doable suggestions put forward for your kind consideration in my article titled “Mr. PM! there are three options to avoid IMF loan”.published in the daily “The News” dated 27 June, 2013 links:-

http://www.thenews.com.pk/Todays-News-13-23752-Mr-PM!-There-are-three-options-to-avoid-IMF-loan

http://images.thenews.com.pk/27-06-2013/ethenews/t-23752.htm

In this regard, vide my email dated 9 July, 2013 addressed to your honour, titled “Few Suggestions to Revive Economy, Fast Track Improvements in Energy Crisis and Nation Security Policy” the possibility and practicability of option No.2, of my above mentioned article was duly elaborated for the convenience of your finance team as below:

Quote. “Your kind attention is invited to my earlier email informing that the news that Abu Dhabi has planned a $50 billion investment in India; and the negotiations are at a very advanced level. Abu Dhabi has the WORLDS BIGGEST SOVEREIGN WEALTH FUND . Now considering the following plus points of Pakistan:

i. Pakistan is the only country in the world which allows foreign investors to repatriate 100% profit and investment without any hassle.

ii. There is no income tax on IPP’s in Pakistan.

iii. The Indians are severely annoying the Abu Dhabi people with objections on their deal of Etihad Air with Jet Airways of India, which will give EA rights over 37,000 weekly seats in India, after EA purchases 24% shares of Jet Airways. Pakistan must grab this opportunity and offer a suitable agreement with PIA. Indian Jet Airways is in much more bad financial shape than PIA and is owned PRIVATELY.

iv. Pakistan should also offer to Abu Dhabi, management sharing in other avenues like, Port Qasim, KPT, steel mills, OGDC, PNSC etc., in lieu of their investment.

v. Pakistan can also offer to Abu Dhabi to invest in new Islamabad Airport, expansion and development of other airports, helicopter and small planes air taxi service to and from big cities to many smaller cities and towns, and development and export of world class fisheries, corporate farming, export of dairy products, fruits, flowers etc.

vi. Abu Dhabi had a very long and successful JV experience with Pakistan viz., Pak Arab Fertilisers Limited. Now they can be offered such JV’s for Refineries, Oil and Gas explorations, defence related production items and air craft manufacturings etc.”Unquote.

Mr. Prime Minister, this news of cash and kind (interest free and conditions free) financial help of Egypt, by the KSA and UAE proves that Pakistan was deliberately forced to take IMF loan with very high repeat very high interest rate of 3%, coupled with conditionality’s. Further, it has also proved that we have completely failed in convincing our Arab friends and 49 NATO countries led by the USA, that helping Pakistan is helping the world and its neighbours, against the menace of terrorism, mainly because Pakistan is the front line state against this world war of terrorism, for the last 13 years. Our friends and allies should be cognisant of the fact that the more Pakistan goes into poverty and economic deprivation, the more this situation will breed the terrorists.

In view of the foregoing, Mr. Prime Minister, you are passionately requested to personally take the charge of the economic policies of Pakistan, vis-a-vis it’s friends, to save Pakistan from the stranglehold of IMF and the World Bank; and from the tunnel vision of our financial and foreign affairs experts. This is all the more necessary because business as usual will never deliver (like the lousy suggestions of increasing tax burden and enhancing utility services rates, so that the ages old policy of penalising the honest common man and rewarding rich scoundrels, continues in this tenure as well, which obviously is the best recipe of an early demise of ANY government).

Pakistan needs nothing, except out of box solutions, which is only possible from a fearless leader and not a timid person, because a timid person like Pervaiz Musharraf, can rule a country, but he can never rule the hearts of his subjects.

With Best Wishes and Kind Regards,

Syed Nayyar Uddin Ahmad
www.snayyar.com
Lahore.

Sent from my iPad3 4G LTE

Come on #ICC learn from #FIFA ..!

When one of the core values of the #ICC is #TRANSPARENCY then why #ICC is NOT demanding from the #BCCI to disclose the names of ALL Indian cricketers found involved in Indian SC’s appointed #Mudgalcommissionreport (http://m.firstpost.com/sports/forget-srinivasan-the-biggest-concern-is-dhoni-lying-to-mudgal-commission-1814681.html).

Quote. “Forget Srinivasan, the biggest concern is Dhoni lying to Mudgal commission
by FP Sports Nov 21, 2014 11:12 IST

The 25-page Justice Mukul Mudgal Committee’s report on IPL spot-fixing is out and while it has named four out of the 13 individuals probed, the identity of the remaining nine haven’t been revealed to protect their privacy.

Gurunath Meiyappan is mentioned as individual No. 1, Raj Kundra No. 11, Sundar Raman No. 12 and N Srinivasan No. 13.

The interesting part of the report is that two persons – individual 2 and individual 3 — who find a mention in the report.

The mysterious individuals have raised a lot of questions. The report says that N Srinivasan and other four BCCI officials were aware of the violation of the Players Code of Conduct by Individual 3 but didn’t take any action. The report also mentioned that individual 2 was in constant touch with Gurunath Meiyappan and frequently met him in the hotel room.

Questions have now surfaced whether the individual 2 is India and CSK captain MS Dhoni?
Pradeep Magazine in this article on Hindustan Times says, “I, like a million others, am curious to know who are Individuals 2 and 3 referred to in the report, and why have they been mentioned.

“The report says that Individual 2 met Gurunath Meiyappan in his hotel room a number of times.
Why should this constitute a crime?

If he is a Chennai Super Kings (CSK) player he is bound to meet a man acting as a team official. To decipher this mystery, one has to go back to the first report on the basis of which the Supreme Court had ordered a second probe.”
“In it, India and CSK captain MS Dhoni was recorded as saying that Meiyappan was not playing the role of a team official and Dhoni had not or rarely met him outside the playing field. But the Mudgal panel felt Dhoni had lied, and this point was heatedly debated in the court.”
Firstpost’s Tariq Engineer had earlier written an article where he has mentioned how Dhoni hid the truth about Meiyappan.

“The report, a copy of which is with Firstpost, states that “Mr. M.S. Dhoni, Mr. N. Srinivasan and officials of India Cements took the stand that Mr. Meiyappan had nothing to do with the cricketing affairs of Chennai Super Kings and was a mere cricket enthusiast supporting CSK.”

It is worth remembering that in a 2011 interview with the Hindu Business Line, Meiyappan said the following:
“Before every game, Dhoni, Fleming and I exchange our elevens at 5.45 p.m. (for the night matches).”
And this:
“Fleming and I spent countless hours in the lead-up to the auction. In the last three days, we conducted mock auctions, picked around 45 different combinations.”

That certainly sounds like Meiyappan had a lot to do with the cricketing affairs of CSK.”

Magazine goes on to say, “In their second report, when the panel says that Individual 2 met Meiyappan a number of times in his hotel room, it should become clear who this player is and why this “trivial” fact is significant. It shows Meiyappan was in regular touch with the captain, and that the captain had lied to the Mudgal panel.”

A report in Mumbai Mirror revealed that the individual 3 in question is a ‘star Indian player who is a part of the current Indian team’

These are indeed worrying signs for Indian cricket.”Unquote.

#NocricketloverwantstheICCtomeetthefateofFIFA

Why #ICC is mum over #IPL match fixing scandal and not forcing the #BCCI to expose the names of the players found involved in the match fixing inquiry report of #Mudgal Commission?

#ICC must not be a party with those who are protecting match fixing criminals. And if the #BCCI is refusing to disclose the names of the match fixing Indian players, then it should ban all international cricket with #India till such time the #BCCI comes clean on this issue.

#India must not be allowed to hide and protect its players who are involved in #match #fixing.
#ICCmustcomecleanonIPLmatchfixingscandal

PCB’s next 5 years media rights auction or loot sale..?

– Is it another future NAB case???
– Does the gap of over Rs.30 billion or $300 million comes under the economic plunder and who are the beneficiaries of the huge earnings gap of the PCB???
– Where is the big 4 status for Pakistan in pure terms of the economic gains?
– Why (as per media reports) the PCB’s revenue share of the World Cup 2015 income of the ICC, will be even less than the the share received by the PCB, from the ICC’s World Cup 2011?

Pak will get the status of big 4 (as per link given below) and revenues of $450 million says Najam Sethi ..!

But now according to the reports, the PCB on 27 March 2015, auctioned its media rights for the next 5 years (including the 4 proposed Indian team’s visits for the home series to be played in Pakistan or outside Pak soil) for less than $150million (as per AB TAK TV channel report the bid amount for the auction was just a peanut of $125 million, with further deductions of production costs and UDRS expenses which may be over $10-15 millions, reducing the net earnings to a meagre amount of around $110-115 million), compared with the PCB’s 2008-2013 five years media rights auction amount of $144 million.

– Link of Mr. Najam Sethi’s claim that Pakistan has got the big 4 status of the ICC and will get $450 million earnings :- http://tribune.com.pk/story/729174/big-four-pakistan-to-earn-450-million-in-cricket-cycle/

Big Four: Pakistan ‘to earn $450 million in cricket cycle’

By AFP Published: June 30, 2014

Lahore. Pakistan Cricket Board chief Najam Sethi claimed on Monday that his country will earn $450 million from the next eight-year cycle, mainly from four series with arch-rivals India.

India and Pakistan signed an agreement to play six series, four of which Pakistan will host in the next eight years, on the sidelines of an International Cricket Council (ICC) annual conference in Melbourne last week.

The windfall for Pakistan was made possible after they conditionally agreed to approve an ICC revamp that gives major powers to cricket’s “Big Three”, India, Australia and England.

The shake-up, which Pakistan initially opposed, was formally endorsed at the meeting in Melbourne.

“We would have been left isolated and gone bankrupt in two years had we not approved the revamp,” Sethi told media on return from Australia.

“We get the most revenues when we play with India and if all goes well we are set to earn $300 million from the four series we host against India,” he said.

Sethi said Pakistan gained significantly during the ICC meeting.

“Pakistan have been included in the executive committee of the ICC for one year, with India, Australia and England as the permanent members, which means we will be at the forefront of most of the decisions,” said Sethi.

That, Sethi claimed, will get Pakistan the most funds after the Big Three.

“We will get revenues on fourth number, and I can say with confidence that in the next eight year cycle we will get $150 million dollars from the ICC,” he said, bringing the total takings to $450 million.

This compares to Pakistan receiving $10 million from the ICC per year in the last seven-year cycle, Sethi added.

The first of the series with India is scheduled for December next year, likely to be played in United Arab Emirates.

“The agreement is now on paper and I hope that the day will also come when PMs of both the countries clear it, then the two countries will also play in Pakistan. But at the moment it is not possible,” Sethi added.

International cricket in Pakistan has been suspended since March 2009 when militants attacked the Sri Lankan team bus, leaving eight people dead and seven visiting players injured.

But Sethi said there would be no compensation if India does not play due to non-clearance from New Delhi.

“There was no compensation before, there is none now. This is not the norm in mutual series when government does not give permission.”

Mohammad Aamer’s return

Sethi also said banned paceman Mohammad Aamer will be able to play domestic cricket before his worldwide ban expires in August next year.

“The ICC committee will finalise changes in the anti-corruption code in October this year after which the PCB will submit an application on relaxing the ban on Aamer and in the last year of his ban Aamer will be able to play domestic cricket to get ready for the international matches,” said Sethi.

Aamer was banned for five years on charges of spot-fixing during the Lord’s Test against England in 2010. Then-Pakistan Test captain Salman Butt and Mohammad Asif were also banned for a minimum of five years in the same case.

– Link of claim of Mr. Najam Sethi that Pakistan set to earn Rs.
30 billion from India series: Sethi
MOHAMMAD YAQOOB — PUBLISHED JUL 01, 2014 05:36AM
Link:- http://www.dawn.com/news/1116131

Pakistan set to earn Rs30 billion from India series: Sethi
MOHAMMAD YAQOOB — PUBLISHED JUL 01, 2014 05:36AM

LAHORE: Pakistan Cricket Board (PCB) chairman Najam Sethi on Monday said he was part of the majority which elected the suspended BCCI president N. Srinivasan as chairman of the International Cricket Council (ICC) at its annual gathering in Melbourne, Australia last week.

Addressing a crowded press conference here after his arrival from Melbourne, Sethi had a lot of good things to say about the tremendous gains and achievements made by Pakistan during the ICC meeting.

However, he was sufficiently grilled over the thorny issue of Pakistan supporting the tainted Indian official Srinivasan as new ICC chairman.

When asked how he saw the future of cricket with a controversial person like Srinivasan now elected as head of the world governing body, Sethi initially appeared a bit reluctant to offer any comment and simply replied: “I can’t say about Srinivasan’s election.”

‘We went with majority to elect Srinivasan as ICC chief’
However, when asked if he raised this point of Indian Supreme Court probing Srinivasan before electing him in Melbourne, Sethi said: “We were part of those who agreed on it (to elect Srinivasan). We elected him and we were part of the majority and it (India court case) would not create any problem whatsoever because Srinivasan has been elected for two years.”

Highlighting his achievements at the ICC meetings, the PCB chairman claimed Pakistan will receive a bumper amount estimated at $300 million (Rs30 billion) from the six Pakistan-India series which will be played in the next eight years, with Pakistan hosting four of them.

“We are estimating to earn Rs30 billion by hosting India in four series and that is the biggest news for Pakistan cricket,” he said.

The PCB chairman disclosed that while India were not willing to consider Pakistan as a possible venue for any of the series, he managed to pull it off by getting a certain term included in the agreement which says either Dubai or any other venue could be selected to host those series with mutual understanding.

However, Sethi admitted that as in the past, the governments of either side will have the final say in holding the series.

He added that a joint statement released from the BCCI and the PCB about the future series was a remarkable achievement by all counts and the decision had now been included in the ICC records as well.

Sethi, obviously delighted at the breakthrough, said the Indo-Pak series was a bigger event than the Ashes (Australia-England series) and the world also recognised that fact.

“The Indo-Pak series have great potential to attract spectators and the sponsors,” he said.

Elaborating further on the bilateral series, Sethi said Pakistan had signed the agreement to hold the series with India some six months back but the instability in the PCB threw a spanner in the whole affair.

“There was a possibility to hold the first series in the current year with India, but the instability (the Zaka Ashraf-Sethi tug of war) and Zaka’s stance on the Big Three issue delayed things.”

Sethi confirmed that Pakistan has been included as the fourth member of the newly-formed Exe­cutive Committee of the ICC for one year.

“Pakistan will be a key part of decision making at the ICC while the next president of the ICC in 2015 will be elected from Pakistan,” Sethi said proudly. “So, in the next two years Pakistan would be able to play an effective role at the ICC level.”

However, he clarified there was no Big Four status for Pakistan but the PCB would have a larger share in the ICC revenues.

“In the last seven years, the PCB had received $70 million from the ICC,” recalled Sethi. “But in the next eight years, it would get almost double, upto $150 million.”

In fact, the revenue will be increased for all four top members including India, Australia, England and Pakistan at the cost of cutting the share of smaller nations like Zimbabwe, Bangladesh and a few others who, it appears, will end up as losers in their support for the Big Three formula.

Regarding the progress made on the front of banned young fast bowler fast bowler Mohammad Amir, Sethi said new rules were being finalised to give the bowler some concessions to his ban imposed on him in a spot fixing case.

He said the PCB had written a letter to the Supreme Court to give a final decision in its case against Zaka Ashraf as soon as possible because the PCB wants to attain stability as it had to take many important decisions to make in the coming days including awarding of the media rights for two ‘home’ series against Australia and New Zealand.

In the end, Sethi mentioned how several people at the ICC meeting discussed with him the negative role played by the Pakistani media against its players and PCB which was proving harmful to Pakistan cricket at international level.

Published in Dawn, July 1st , 2014

Email dated 26 February, 2015 addressed to the PM Pakistan:

Subject: Very urgent message for the PM – Big Four: Pakistan ‘to earn $450 million in cricket cycle’ A news item by the daily “The Express Tribune” of 30 June, 2014

Respected Mian Nawaz Sharif Sahab,

AoA.

Sir,

The subject mentioned news item is being submitted for your kind perusal because PCB is going to auction its media rights (for the next five years) tomorrow on 27 January, 2015 and it is in Pakistan’s interest to ensure that nothing less than $450 million is earned by the PCB from the auction of this rights for the next five years.

Moreover, it is very strange that although it is a marketing department’s domain but the Director Marketing PCB is NOT included in the bidding committee which includes Mr. Najam Sethi about whom conflict of interest is reported.

Sir, in view of the seriousness of the matter and as per 100% transparency policy of your government it is suggested that a member from the following organisations should also attend this bidding process as observers:

– NAB
– FIA
– Public Procurement Regulatory Authority
– Office of the Auditor General of Pakistan
– Transparency International Pakistan

– Mr. Khalid Mahmood Ex. Chairman PCB

In this regard, if it is necessary the bidding process may be delayed for a few days to ensure that the representatives of the above mentioned departments can attend the bidding meetings in due course of time.

Best regards,

Syed Nayyar Uddin Ahmad

Sent from my iPad3 4G LTE

Link :- http://tribune.com.pk/story/729174/big-four-pakistan-to-earn-450-million-in-cricket-cycle/