PCB to invest 89 percent more on domestic cricket than previous year

PCB Pakistan Cricket Board PSL

Pakistan Cricket Board (PCB) presented their budget for the 2018-19 financial year where they discussed previous year’s profit, expense and their plan of spending.

The cricket board has decided to invest 89 percent more, Rs 916.36 million on domestic cricket than they did in the preceding year. Moreover, the spending on talent hunt, academies and cricket development program will also be increased by 52 percent.

“Likewise, budgeted expenses on cricket development, talent hunt, academies programs etc is estimated at PKR 1billion which is 52% more than the previous year,” it states.

“Out of the total capital expenditure planned for the next financial year, PKR 2.66 billion has been allocated to building cricket related infrastructure mainly comprising stadiums in Karachi, Rawalpindi and Multan and also for cricket academies at Lahore, Multan and Karachi,” it stated.

PCB claimed that they have been in a sound financial position, earning a profit of Rs 700 million with an income of Rs 6.4 billion and expense amounting Rs 5.7 billion.

“While reviewing previous year’s financial performance for 2017-18, the BoG noted that the PCB has very successfully achieved its income target while HBL PSL, in only its third year of operation, has emerged as the most successful brand in Pakistan and has become a major source of revenue,” PCB stated in a press release issued after the meeting.

“The BoG approved the annual budget for fiscal year 2018-19 with a total income target of PKR 6.4 billion and expenditure of PKR 5.7 billion (without PSL),” the press release read.

It has also been decided during the meeting that budget for Pakistan Super League 2019 will be decided in the next quarter.

“It was also decided to approve the HBL PSL 2019 budget in the next quarter once it is final after evaluation of rights for the next cycle and underlying bidding process is complete,” the press release stated.

Chairman PCB, Najam Sethi also briefed about the developmental work of National Stadium Karachi that hosted the final of PSL 2018 and a three-match T20I series and upgradation of other stadiums for the coming edition of the league.

“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 HBL PSL 2019 home fixtures,” the chairman said.

Sethi further talked about Pakistan team’s successful run.

“The Chairman also briefed the BoG on the successful run of the Pakistan cricket team across the three formats on the tours of England/Ireland and the on-going Zimbabwe tour.

“The BoG greatly appreciated the national team’s 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,” it said.

He also discussed Pakistan women team’s progress and their preparations for their upcoming major assignment in the Caribbean.

“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 is 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 official statement read.

He also mentioned cricket academies being developed for the women cricketers across the country.

“Elaborate plans are also being made to encourage young girls at the grass-root level. In this regard five new academies dedicated for women cricketers will be set up across the country,” the Chairman stated.