KARACHI: The Pakistan Cricket Board (PCB) has approved its budget for the next fiscal year, increasing amounts for development of infrastructure and the domestic cricket.
According to the statement by the PCB, its Board of Governors (BoG) met for its 49th meeting in Lahore on Monday to approve the budget, presented by the CFO.
“The BoG approved the annual budget for fiscal year 2018-19 with a total income target of PKR6.4 billion & expenditure of PKR5.7 billion, without PSL,” the statement said.
Budgeted income for 2018-19 is 133 per cent, which is more than previous year’s income of PKR2.79 billion.
The statement further added that this year, the PCB has budgeted to spend Rs916.36 million on domestic cricket, which is 89 per cent more than the previous year. The budgeted expense on cricket development, talent hunt, academies programmes etc. is estimated at PKR1 billion, 52 per cent higher than previous year.
An estimated PKR2.66 billion has been allocated to building cricket-related infrastructure mainly comprising stadiums in Rawalpindi, Karachi and Multan, and also for cricket academies in Lahore, Multan and Karachi.
“While reviewing previous year’s financial performance for 2017-18, the BoG noted that the PCB has very successfully achieved its income target while PSL, in only its third year of operations, has emerged as the most successful brand in Pakistan and become a major source of revenue,” the PCB stated.
The BoG, according to the statement, also noted satisfactory shift towards enhancing revenue generating activities and development of cricket-related facilities and infrastructure.
However, the budget approval for PSL 2019 was deferred to the next quarter as PCB was still waiting for the valuation of rights for the next cycle.
“It was also decided to approve the PSL 2019 budget in the next quarter once it is final after valuation of rights for the next cycle and underlying bidding process is complete,” a spokesman for the PCB said.
The PCB’s Board of Governors also approved nomination of Mansoor Masood Khan as Alternate Director to the ICC. The arrangement had been made as per ICC regulations.
Khan will represent the PCB chairman in case of his absence at the ICC board meetings.
Meanwhile, presenting his report, the Chairman PCB Najam Sethi briefed the BoG on the infrastructure development projects carried out for revival of international cricket in the country.
“The chairman spoke about the up-gradation of the National Stadium Karachi, which enabled the venue to host the PSL final and the three match T20I series against the Windies, in March-April this year,” the PCB said.
“The stadium is currently undergoing the second stage of the development work which should be completed in time before the next international matches and the PSL 2019 home fixtures.”
The Board of Governors greatly appreciated the record-breaking performances in the T20I format. After the success in the T20I tri-series in Zimbabwe, the national team has stretched its victory run to nine consecutive series, further strengthening its grip on the top of the ICC T20I Team Rankings.
The PCB chief also spoke at length about the progress made by the national women’s team, following the recent appointments in the women’s wing and team management.
He also informed about the Future Tours Programme (FTP) which would see Pakistan play 123 matches across the three formats during the 2018-2023 period.
During the meeting, the PCB’s five-year strategic plan mission statement was discussed and the honourable members also gave their inputs on the same.