KARACHI - Two top officials have agreed to suspend operation of bank accounts of Pakistan Boxing Federation (PBF) in order to stop unauthorized withdrawals of funds, it was learnt here Monday.
A source close to the PBF has disclosed that the treasurer and the secretary of the PBF have advised the bank where the national body accounts are kept to freeze all future transactions.
Three persons are authorized to sign on the cheques for the withdrawal of money from the account while the third person is the president of the PBF.
The source said that the money which was received by the PBF from the government was not deposited in the PBF account and was taken directly allegedly by a high official. Funds lying in the PBF accounts were also allegedly withdrawn by the same high official. The sources did not give the name of the high officials but said the treasurer and the secretary felt it was urgent to freeze the account to save the funds lying in the account.
The source recalled that the government had committed itself to give the PBF millions of rupees needed to hold Benazir Bhutto International boxing in Islamabad. The money as promised was paid to the PBF but that did not find its way into the PBF account. As there were not sufficient funds in the PBF account the boxing officials could not pay outstanding bills after the international event was over.
This forced the treasurer and the secretary to freeze the bank account. In the meantime it has been learnt that the PBF executive body which is due to meet in Quetta in a few months time may take up the financial matters and would ask the highest official to explain issues related to the funds. There is already talking about bringing some one at the top of who could run the PBF in more democratic and transparent manner.
The PBF secretary Akram Khan is in Islamabad to hold talks with the PSB for arranging training camp for the New Delhi SAF Games which will be held some time later this year.