Latest news with #PSB
Business Recorder
12 hours ago
- Politics
- Business Recorder
PSB caps age limit for officials at 70, sets two-term limit, stricter penalties
The Pakistan Sports Board (PSB) has officially notified the 'Term Rules 2025', bringing sweeping governance reforms for all national sports federations, including age and term limits for office bearers and the potential for lengthy bans or lifetime disqualification in case of violations. Under the new rules, issued in continuation of the National Sports Policy 2005, the position of President has been declared the highest office within any federation, the sports board said in a statement. Alternate designations such as Chairman, CEO, or equivalents will no longer be acceptable, according to the notification. PSB forms inquiry committee over athlete disappearances during FISU Games The rules set the maximum age limit for office bearers at 70 years, after which the seat will be considered automatically vacated. No individual will be permitted to hold office in more than one federation simultaneously. Federations have been given 90 days to align their constitutions accordingly. The 'Term Rules 2025' comprise six major clauses and 24 sub-clauses and take immediate effect. A maximum of two four-year terms will be allowed for any office, capping the total tenure at eight years. Moreover, officials who have served in senior positions will be barred from contesting for lower posts within the same or other federations. In case of a mid-term vacancy, the newly elected office bearer's term will be counted within the eight-year limit. In the event of a violation, the Director General of PSB will be authorised to initiate an inquiry. If misconduct is confirmed, the individual may face a ban ranging from four to six years, during which they will be ineligible for funding, roles, or any benefits related to the federation. PSB bars federations from competing in India without prior approval The rules also empower the DG PSB to recommend further legal or administrative action to the federal government if violations are ignored. Repeated violations could lead to permanent disqualification from all sports-related roles. A central database will be created to maintain and publish the list of disqualified individuals on the PSB website. Affected persons will have the right to file a written appeal with the Panel of Adjudicators, as per the relevant provisions of the Code of Ethics and Governance in Sports. Federations that fail to comply risk cancellation of their registration and suspension of government funding. These measures mark a major push toward institutional accountability and standardisation of leadership tenure across Pakistan's sporting landscape.
Express Tribune
2 days ago
- Business
- Express Tribune
PSB raises cash rewards for global medalists
Listen to article The Pakistan Sports Board (PSB) has announced a substantial increase in cash rewards for national athletes who secure medals at international sporting events. The decision came during the 34th meeting of the PSB Board, where the revised 'Cash Award Policy' was formally unveiled. Under the new policy, prize money for Olympic gold winners has risen to Rs30 million from Rs10m earlier. Silver medalists will now receive Rs20 million, while bronze medalists will be awarded Rs10 million. Also Read: Naqvi confirms dates for Asia Cup The revised scheme also includes enhanced financial incentives for other major international competitions. Gold medalists at the Asian Games will receive Rs15m while silver and bronze medal holders will now be entitled to Rs7m and Rs5m, respectively. For the Commonwealth Games, gold medalists will be awarded with Rs7.5m and the Asian Snooker Championship winner will get Rs750,000. The policy further covers squash, squash, with Rs10m in prize money allocated for players winning the prestigious British Open or an equivalent tournament.
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Business Standard
2 days ago
- Business
- Business Standard
Planning to sell excess priority sector loans in Q2 FY26: MD Canara Bank
Canara Bank plans to offload its excess priority sector loans in the second quarter (Q2) of financial year (FY) 2025-26 to reduce stress on margins due to the reduction in interest rates. The total priority debt stands at 45.63 per cent of total loans, compared to the regulatory requirement of 40 per cent, Canara Bank MD and CEO K Satyanarayana Raju told PTI. As of FY26 June quarter, the bank has surpassed the mandated targets, achieving 45.63 per cent in priority sector lending and 23.25 per cent in agricultural credit, compared to the regulatory norms of 40 per cent and 18 per cent respectively, as per an exchange filing. Raju said: "We have a cushion under the priority sector space. There is demand in the market, and we may take advantage of the Priority Sector Lending Certificate (PSLC) sale." The company's net interest income declined by 4.59 per cent quarter-on-quarter (QoQ) to ₹9,009 crore, compared to ₹9,166 crore in the first quarter of the previous financial year. The CEO expressed concerns over net interest margin (NIM) in the current financial year, stating, "The guidance of 2.75 per cent seems difficult at the current juncture due to the 100 basis point rate cut by the RBI so far this year and the expectation of another one as inflation has come down below 3 per cent." Raju added, "Whether the rate cut happens in August or October policy, one has to wait and watch." Due to the interest rate cut, he expects pressure in Q2 FY26 but remains optimistic about improvement in the third and fourth quarters. Subsidiary IPOs The public sector bank (PSB) is also targeting the listing of one of its subsidiaries, Canara Robeco AMC, on the stock market in Q2, with another listing planned for the next quarter. It has already initiated the process for the listing of the asset management joint venture. The bank is planning to offload 13 per cent of its stake in the AMC via an initial public offering (IPO). Moreover, Canara Bank has already initiated the process to divest 14.5 per cent of its stake in its life insurance subsidiary, Canara HSBC Life Insurance Company, through a public listing. Q1 Results The PSB posted a 22 per cent year-on-year (YoY) increase in net profit to ₹4,752 crore for the April–June quarter of FY26, supported by a strong rise in other income despite pressure on its net interest margin. Other income, comprising fees, commissions, and treasury gains, surged 32.73 per cent YoY to ₹7,060 crore. Fee-based income grew by 16.39 per cent, while treasury income saw a sharp jump of 296.22 per cent.
Business Recorder
2 days ago
- Sport
- Business Recorder
PSB forms inquiry committee over irregularities, athlete disappearances during FISU Games
The Pakistan Sports Board (PSB) has constituted a three-member inquiry committee to investigate administrative irregularities and athlete disappearances during Pakistan's participation in the 2025 FISU World University Games in Germany. According to a notification issued with the approval of the PSB Director General, the committee has been tasked with probing serious lapses, including the reported disappearance of two student-athletes, questionable selection of team officials, disciplinary issues, and logistical mismanagement. The inquiry panel will submit its findings within 15 days. The committee is headed by Director PSB Lahore, Noor-us-Sabah, with Nasrullah Rana and Saif-ur-Rehman Rao serving as members. 'The decision was taken after multiple concerns emerged regarding Pakistan's contingent at the Games, ranging from team disqualifications to the suspected escape of athletes,' said a PSB spokesperson. Notably, the women's 4x400m relay team was disqualified from the event, while a judo athlete was reportedly made to compete without proper coaching support or an official competition uniform. The PSB noted that all team officials, except one coach, were from the Higher Education Commission (HEC) or HEC-affiliated universities. This has prompted scrutiny over the transparency and merit of the selection process. 'The committee will thoroughly examine the nomination of athletes and officials by HEC, determine whether due process was followed, and identify any procedural lapses,' the notification stated. It will also investigate the circumstances surrounding the disappearance of the two athletes, trace the timeline of events, and fix responsibility on those found negligent or involved in misconduct. As part of its Terms of Reference, the committee will assess the reasons behind the disqualification of the women's relay team and evaluate any coaching or administrative gaps that led to the judo athlete competing under-equipped. Disciplinary action has been promised against individuals found responsible for mismanagement or dereliction of duty. The development comes amid growing calls for greater oversight and accountability in Pakistan's sports administration, particularly in international student and youth competitions.
Business Recorder
2 days ago
- Sport
- Business Recorder
PSB forms inquiry committee over athlete disappearances during FISU Games
The Pakistan Sports Board (PSB) has constituted a three-member inquiry committee to investigate administrative irregularities and athlete disappearances during Pakistan's participation in the 2025 FISU World University Games in Germany. According to a notification issued with the approval of the PSB Director General, the committee has been tasked with probing serious lapses, including the reported disappearance of two student-athletes, questionable selection of team officials, disciplinary issues, and logistical mismanagement. The inquiry panel will submit its findings within 15 days. PSB bars federations from competing in India without prior approval The committee is headed by Director PSB Lahore, Noor-us-Sabah, with Nasrullah Rana and Saif-ur-Rehman Rao serving as members. 'The decision was taken after multiple concerns emerged regarding Pakistan's contingent at the Games, ranging from team disqualifications to the suspected escape of athletes,' said a PSB spokesperson. Notably, the women's 4x400m relay team was disqualified from the event, while a judo athlete was reportedly made to compete without proper coaching support or an official competition uniform. The PSB noted that all team officials, except one coach, were from the Higher Education Commission (HEC) or HEC-affiliated universities. This has prompted scrutiny over the transparency and merit of the selection process. 'The committee will thoroughly examine the nomination of athletes and officials by HEC, determine whether due process was followed, and identify any procedural lapses,' the notification stated. PSB issues show-cause notice to Netball Federation over 'misleading' victory claim It will also investigate the circumstances surrounding the disappearance of the two athletes, trace the timeline of events, and fix responsibility on those found negligent or involved in misconduct. As part of its Terms of Reference, the committee will assess the reasons behind the disqualification of the women's relay team and evaluate any coaching or administrative gaps that led to the judo athlete competing under-equipped. Disciplinary action has been promised against individuals found responsible for mismanagement or dereliction of duty. The development comes amid growing calls for greater oversight and accountability in Pakistan's sports administration, particularly in international student and youth competitions.
