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The Pakistan Cricket Board has suspended construction of a pavilion at the Gaddafi Stadium in Lahore citing financial misappropriation.
Construction of a pavilion at the far end of the stadium was initiated in February last year by the former PCB regime headed by Nasim Ashraf.
The work should have been completed in August at an estimated cost of 142 million rupees (£1.18 million).
Incumbent PCB chairman Ijaz Butt has, however, said the stadium is yet to be finished and now needs 471 million rupees (£3.91 million) to be completed.
Butt has accused the former regime of financial fraud.
"The VIP enclosure at the Gaddafi Stadium was conceived by the previous management of PCB and was a showpiece to be ready before the ICC Champions Trophy to be held in September 2008 at a cost of Rs 142 million," Butt said.
"The design is faulty - huge columns have been constructed which have blocked spectators' view.
"Hospitality boxes have been ill-conceived and huge dining room areas have been left at the back of the boxes which have very little utility.
"There has been a huge cost overrun. The total has reached a staggering figure of Rs 471 million.
"The whole project is a monumental disaster, utter wastage of PCB funds and is a tribute to the management ego and vision of grandeur.
"It was sheer negligence and incompetence of the previous management that the project has not been completed in time and there has been a colossal cost increase.
"The amazing aspect of the whole fraudulent tender is that a hefty advance has already been paid to the contractor," Butt added.
Butt has hired an independent team to assess the original cost of the project as well as at present market rates.
The stadium was to host the ICC Champions Trophy in September last year, but the tournament was postponed to September and October this year.
Lahore is scheduled to host the third one-dayer between Pakistan and Sri Lanka on January 24 and the second Test between the two countries from March 2-6.
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