From the very beginning, PSL franchisees have been in a position to change the current financial model, which is causing them constant financial losses.
With the change of chairman PCB, the PSL franchisees were worried about the financial model while Ehsan Mani had almost resolved the issue. Board officials listened to him from one ear and took him out from the other, so they all got fed up and filed a case in court.
The PCB assured to resolve the issue. After withdrawing the case, the two sides worked on a new financial model. Several suggestions came up but could not be agreed upon.
Finally, a model was chosen, according to which the dollar rate for fees would be fixed for the next 14 years on December 31, 2020, the expenses would be deducted, Rs 7 billion would be deposited in the Central Income Pool or whichever was earlier.
Car maintenance, meanwhile 92.5% of all contracts are mentioned to be given to franchisees and the remaining 7.5% to the board, after which no fee will be charged for the next 30 years but 70% of all contracts will be paid to PCB and the rest. 30% will be franchised.
On the other hand, according to sources, the report has been received but it will be discussed further on the arrival of the new chairman.
It was discussed that when he spoke to CEO Wasim Khan, he seemed to assure him that his problems would be resolved.
A franchise official said on condition of anonymity that the ball is now in Rameez Raja’s court, we all know how much damage has been done, a change in the financial model is inevitable, hopefully, after the new chairman takes over PSL Will try to solve the problems.
On the other hand, the sources said that if there is a deadlock regarding the financial model, the franchisees can go to court again.