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Introduction to the New Sports Funding Regulations
Pakistan has taken a significant step towards ensuring transparency and accountability in the management of sports funding. The Pakistan Sports Board (PSB) has introduced the ‘Sports Funding Regulations 2025,’ which are designed to ensure that government funds are used efficiently, transparently, and on merit-based principles. These regulations aim to bring about a more structured and performance-driven approach to financial support for sports federations.
Key Provisions of the Regulations
Under the new rules, all sports federations must submit annual performance reports, action plans, and budget estimates to be eligible for funding. This requirement ensures that the use of public money is monitored and aligned with specific goals and objectives. Additionally, the funds can only be spent on approved athletes and officials, as outlined in the press release.
The PSB has also emphasized the importance of financial oversight. The Board reserves the right to conduct financial inspections or audits at any time, and the Auditor General of Pakistan may also audit grants-in-aid. This dual layer of scrutiny is intended to prevent misuse and ensure compliance with the regulations.
Financial Management and Reporting Requirements
Federations are required to operate their bank accounts under dual signatories, which adds an extra layer of security and accountability. They must also declare all financial sources, including sponsorships and donations, to the Board. This transparency helps in tracking the flow of funds and identifying potential conflicts of interest.
Muhammad Yasir Pirzada, Director General of the PSB, highlighted the intent behind these regulations: “The 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.”
Payment Procedures and Expense Controls
All payments under the new regulations must be made via cross cheque or electronic transfer, and cash payments exceeding Rs. 25,000 are strictly prohibited. This measure is aimed at reducing the risk of misappropriation and ensuring traceability of transactions.
Additionally, any additional expenses incurred due to extended stays must be personally borne by the individuals or institutions concerned. This provision discourages unnecessary spending and promotes fiscal responsibility.
Audits and Procurement Standards
Each federation must undergo an annual audit by a registered auditor and publish the audit report publicly. This requirement ensures that the financial activities of each organization are subject to independent verification and public scrutiny.
Procurement processes must follow competitive quotation procedures to maintain transparency and fairness. This approach prevents favoritism and ensures that the best value is obtained for the funds allocated.
Consequences of Non-Compliance
The PSB has made it clear that any misuse of funds, submission of inadequate or suspicious documentation, or violation of the regulations may result in serious consequences. These include the suspension of future funding, disciplinary action, or even blacklisting of the respective federation or individual.
Grant approval remains at the discretion of the 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.
Implementation and Transition
It 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. This transition period allows federations to adapt to the new framework while maintaining continuity in their operations.
Overall, the introduction of the Sports Funding Regulations 2025 marks a pivotal moment in the governance of sports in Pakistan. By emphasizing transparency, accountability, and performance, the PSB aims to create a more sustainable and equitable environment for sports development across the country.
