PCB board restores PSL’s huge commercial budget

ISLAMABAD: The Board of Governors (BoG) of the Pakistan Cricket Board (PCB) that met for the first time under newly-elected Chairman Mohsin Naqvi at the Chief Minister’s House Wednesday restored the Pakistan Super League’s (PSL) commercial expenses that were earlier slashed by the former Management Committee, hoping to generate a profit of around Rs1,945 million from the Season 9 that springs into action from February 17.

The meeting that was attended by almost half of the BoG members in person and rest through the video-link, has restored the previous commercial budget from Rs459,500,000 to Rs544,5000,000.

It means that Rs85 million cut that was imposed on the commercial expenditures by the Zaka Ashraf’s regime has been restored. Besides the commercial expenditure, the cut imposed on logistic, administrative and electrical expenditures have also been restored. The security budget has also been revised, introducing a cut of Rs56 million.

The actual budget meant for security was around Rs286 million which has been readjusted at Rs230 million and around.HR expenditures have also been raised from Rs25 million to Rs38 million and around.

Expenditures on media sees no change as these stay at around Rs6.5 million for the current season. Logistics expenses for the season have been restored to Rs380 million, restoring the cut of Rs130 million introduced by the Management Committee headed by Zaka.

‘The News’ has learnt that in another major development, the PCB’s share from the PSL income has been increased from Rs675 million around to Rs725 million with an adjustment of Rs50 million.

A well-placed source privy to the meeting said that the PCB expects to generate a net profit of around Rs1,945 million from Season 9.A committee will also be constituted to look into the recent ban imposed on a former PCB official. The committee will be given full authority to go through all the details.