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PCB earmarks Rs2.66 billion for infrastructure development

By Our Correspondent
July 17, 2018

KARACHI: Pakistan Cricket Board (PCB) on Monday approved its budget for 2018-19, substantially increasing the amount for development of domestic cricket and infrastructure.

The PCB made this decision in its 49th Governing Board meeting at National Cricket Academy, Lahore, on Monday with the Board chief Najam Sethi in the chair.The Board said that the BoG approved the PCB budget presented by the Chief Financial Officer (CFO).

While reviewing financial performance in 2017-18, the BoG noted that the PCB successfully achieved its income target while HBL PSL, in only its third year of operations, emerged as the most successful brand in Pakistan and became a major source of revenue, the PCB said in its press release.

“The BoG approved the annual budget for 2018-19 with a total income target of Rs6.4 billion and expenditure of Rs5.7 billion (without PSL),” it said. The budgeted income for 2018-19 is 133 percent higher than previous year’s income of Rs2.79 billion, it added.

The PCB has budgeted to spend Rs916.36 million on domestic cricket, 89 percent higher than previous year. Budgeted expense on cricket development, talent hunt, academies programmes is estimated at Rs1 billion which is 52 percent higher than previous year, it said.

Out of total capital expenditure planned for the next financial year, Rs2.66 billion has been allocated to building cricket related infrastructure, mainly comprising stadiums in Karachi, Rawalpindi and Multan and for academies at Lahore, Multan and Karachi.

In his report, PCB chairman 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 which enabled the venue to host the HBL PSL final and three T20I matches against the West Indies in March-April this year. The stadium is currently undergoing the second phase of development work which should be completed in time before the next international matches and the HBL PSL 2019 home fixtures, the board said.

The chairman also briefed the BoG on the successful run of the Pakistan cricket team across the three formats on the tours of England and Ireland and the ongoing Zimbabwe tour, the PCB said.

The chairman 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. The chairman added that the team was being run on professional lines after the induction of a foreign head coach.

The team is preparing for major assignments later in the year, including the Women’s World T20 set to be staged in the Caribbean, the PCB said.“Elaborate plans are also being made to encourage young girls at the grassroots level. In this regard, five new academies dedicated for women cricketers will be set up across the country,” the PCB said.

The chairman also spoke about the Future Tours Programme (FTP) which would see Pakistan play 123 matches across the three formats during the 2018-2023 period, the press release said.During the meeting PCB’s five-year strategic plan and mission statement were discussed.

The chairman also spoke about the growth of the PSL brand. The BOG members were apprised of the phenomenal rise in the league value.

The BOG approved the nomination of Mansoor Masood Khan as Alternate Director to the ICC. This arrangement has been made (as per ICC regulations). Mansoor will represent the chairman in case of his absence at the ICC Board meetings.

The BoG also appreciated the ongoing talent hunt and grooming programmes in regional academies across the country. The BoG was also updated on the proceedings in the National Cricket Academy’s High Performance Camp (HPC).

The BoG appreciated PCB’s efforts in getting the Asia Cup shifted from India to the UAE. The tournament is scheduled to be staged in September this year. The chairman welcomed FATA’s Kabir Ahmed Khan as the new BOG member.