ISLAMABAD, Jul 30 :The Pakistan Sports Board (PSB) has enforced the \u2018Sports Funding Regulations 2025\u2019 aimed at ensuring the transparent and performance-based utilization of government funds and providing financial support to sports federations on merit.
\nAccording to the regulations, the submission of annual performance reports, action plans and budget estimates is mandatory for availing funding. Moreover, the funds will only be spent on approved athletes and officials, said a press release.
\nAs per the regulations approved by PSB Director General Muhammad Yasir Pirzada, the Board reserves the right to conduct financial inspections or audits at any time, while the Auditor General of Pakistan may also audit grants-in-aid.Federations are required to operate their bank accounts under dual signatories and must declare all financial sources, including sponsorships and donations, to the Board.<\/p>\n
DG PSB Muhammad Yasir Pirzada said, \u201cThe aim of the Sports Funding Regulations 2025 is to ensure the transparent, efficient, and performance-driven use of public funds. Through these regulations, we seek to promote a culture of merit, accountability, and equitable distribution in sports.\u201d
\nAll payments under these regulations must be made via cross cheque or electronic transfer, and cash payments exceeding Rs. 25,000 are strictly prohibited. Any additional expenses due to extended stays must be personally borne by the individuals or institutions concerned.
\nEach federation must undergo an annual audit by a registered auditor and publish the audit report publicly. Additionally, procurement must follow competitive quotation processes to ensure transparency.
\nIf any federation fails to utilize the full amount of funds after an event, it is obligated to return the remaining amount within 30 days, unless written approval is obtained from the Board.
\nThe PSB has made it clear that misuse of funds, submission of inadequate or suspicious documentation, or violation of regulations may result in suspension of future funding, disciplinary action, or even blacklisting of the respective federation or individual.
\nAs per the regulations, grant approval remains at the discretion of PSB and cannot be claimed as a right by any federation. The Board reserves the authority to modify, relax, or impose additional conditions based on national interest, equity, or sports representation.
\nIt is also clarified that all previous notifications, policies, and instructions stand nullified with the implementation of the new regulations. However, financial assistance already provided under earlier rules shall remain valid.<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD, Jul 30 :The Pakistan Sports Board (PSB) has enforced the \u2018Sports Funding Regulations 2025\u2019 aimed at ensuring the transparent and performance-based utilization of government funds and providing financial support to sports federations on merit. According to the regulations, the submission of annual performance reports, […]<\/p>\n
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