LAHORE: The Pakistan Cricket Board (PCB) has so far suffered huge losses of US$51.22 million of which a major chunk of US$47.22 million was incurred due the cancellation of the series against India after the suspension of international cricket at home due to security reasons against the backdrop of terrorism.

An official document from the PCB reveals that the board suffered a major loss of US$47.22 million when India did not tour Pakistan earlier this year.

A loss of US$39.22 million was also suffered as a result of losing out on TV rights for the Indian series, while the damages caused due to loss of sponsorship is estimated at around US$5 million.

In addition, an estimate of a further loss of US$2 million to be collected from gate money was also suffered.

This is in addition to the estimated loss of US$2 million for being stripped off as hosts for the 2011 World Cup. Yet another loss of US$2 million was noted while losing the hosting rights of the ICC Champions Trophy in 2008.

Pakistan was one of the four hosts of the 2011 World Cup but later the ICC deprived Pakistan from hosting the event while retaining India, Sri Lanka and Bangladesh as the other three hosts.

It is being said that the ICC took the decision rather hurriedly, soon after Pakistan failed to protect the Sri Lankan team, which was attacked by terrorists in Lahore on March 3, the third day of the second Test.

The PCB had invited Sri Lanka over to play in Pakistan after India had refused to visit here due to the strained political relations between the two countries.

A successful tour of Sri Lanka for which presidential-level security had also been promised, might have opened the gates for more international series in Pakistan.

But reckless arrangements made during the last Test made matters worse for Pakistan.

The PCB is yet to prepare the profit and loss statements for the two series against Australia and New Zealand, which were staged in Abu Dhabi and Dubai after both teams refused to visit Pakistan on security grounds.

While Pakistan hosted the ODI and Twenty20 series against both the countries in the UAE, the Test series against the Kiwis is currently underway in New Zealand. The Test series against Australia will be held in England next year.

Although the PCB could not settle the accounts of the series held in UAE, its Chairman Ijaz Butt had informed the subcommittee of the National Assembly Standing Committee on Sports that the board had failed to earn a profit on both instances.