KARACHI: Pakistan Tennis Federation received huge grants in the financial year 2024. According to the audited accounts of the federation submitted to Pakistan Sports Board, the federation received 2.4 million rupees from ITF in 2024 which was half against the amount of 4.2 million rupees received in 2023.
ITF doubled its grant to PTF in 2024 as 42.5 million rupees for the development of tennis while it was 21 million rupees in 2023. In 2024, the federation received 32.9 million rupees from PSB against just 5 million rupees in 2023.
The federation received 7.1 million rupees from sponsorship/contribution in the said period while got 3.5 million rupees as membership fee and 1.5 million rupees as tournament entry fee.
In total the federation received 91.1 million rupees in terms of grants/receipts in 2024 against 40.1 million rupees in 2023. On the other hand, the federation spent 79,818,500 rupees till the end of Financial Year 2024 against the total expenditures of 50,997,203 rupees in the year 2023.
The expenditures include the Davis Cup Tournament on which the federation spent Rs 24.8 million while it was 14.1 million rupees in the year 2023. The federation’s expenses on wheel chair tennis also doubled from 1.1 million rupees in 2023 to 2.1 million rupees in 2024 while useless National Tennis Center also cost heavily to the federation with the expenses of over two million rupees in 2024 against 1.5 million rupees in 2023.
The federation spent 28.5 million rupees on conducting and participation in various tournaments in 2024 against 16 million rupees in 2023 while the federation spent 780,360 rupees on its Annual General Meeting 2024. The federation spent 461,196 rupees on training/coaching/courses in 2024 which was quite meagre in 2023 as just 12,744 rupees.
The auditor stated that grants received from PSB represent the amount received as general grant and supplementary grant. The general grant is used to meet routine expenses and supplementary grant is to be utilized for hosting and participation in Davis Cup.
“Grants received from Prime Minister of Pakistan represents the revolving grant received from Prime Minister of Pakistan in January 2017 for investment in term deposit certificates or government securities. Return on investments made out of this grant will be utilized for promotion of tennis in Pakistan,” stated the auditor. It is pertinent to mention here that PTF being an affiliated organization of PSB is exempt form levy of income tax.
