LAHORE: The Pakistan Cricket Board (PCB) on Monday presented its budget for the financial year 2018-19 and claimed a healthy financial position, showing an income of Rs 6.4 billion and expenses amounting Rs 5.7 billion which means a net income of Rs 700million.
The financial report was presented to the Governing Board members in the 49th meeting held here at the National Cricket Academy (NCA) on Monday.
The BoG members also approved the budget.
“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).
GB informed about enhanced investment on development projects
The PCB also claimed that the budgeted income for 2018-19 is 133 per cent more than the previous year’s income of Rs 2.79 billion.
Moreover, the PCB claimed it will be spending Rs 916.36 million on domestic cricket which is 89 per cent more than previous year.
“Likewise, budgeted expenses on cricket development, talent hunt, academies programs etc is estimated at PKR 1billion which is 52% more than 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.
No details, however, have been given about the further developments in the cricket academies of Lahore, Multan and Karachi, as all three have already been functional.
“The BoG also noted the satisfactory shift towards enhancing revenue generating activities and development of cricket related facilities and infrastructure.
“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 further said.
Meanwhile, in 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 HBL PSL final and the three match T20I series against the Windies in March-April this year.
“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.
“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.
“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.
“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 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 members were informed.
During the meeting PCB’s five year strategic plan mission statement was discussed and the honourable members gave their inputs on the same.
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 members appreciated the Chairman and the team PCB on their valued contribution in making the league one of the most popular T20 tournaments in the cricketing calendar.
The BOG approved the nomination of Mansoor Masood Khan as Alternate Director to the ICC. This arrangement has been made (as per ICC regulations) and now he will represent the Chairman in case of his absence at the ICC Board meetings.
The BoG also appreciated PCB’s efforts in shifting the Asia Cup from India to the UAE, the tournament is scheduled to be staged in September this year.
Meanwhile, the Chairman welcomed FATA’s Kabir Ahmed Khan who has been inducted as the new BOG member.
Those who attended the meetingincluded Najam Sethi (chairman), Murad Ismail, Sharez Abdullah Khan, Kabir Ahmed Khan, Mansoor Masood Khan, Dr Najeeb Samie, Arif Ijaz (members), Arif Ibrahim Senior (Joint Secretary Member Secretary Ministry of IPC), Subhan Ahmad, COO PCB, Badar M. Khan, CFO PCB.
Published in Dawn, July 17th , 2018