PCB incurs huge loss for no bilateral series against India
Karachi: India`s refusal to play a bilateral series has incurred the Pakistan Cricket Board a loss of atleast USD 1.6 million.
According to the budgetary documents, the PCB has to repay an amount of USD 1.6 million to the Dubai-based broadcaster, Taj Entertainment Network since there was no bilateral series with India in their last agreement.
"India has not agreed to tour Pakistan or even play against us at a neutral venue since the Mumbai attacks and this is costing the PCB big revenues," a PCB official said.
He said the issue was not only repaying Ten Sports but also of the fact that any series against India would generate around USD 60 to 70 million for the PCB at any given time.
"We went to a play a short series against India in India last December without any financial benefits because we wanted to take the first step towards resumption of bilateral cricketing ties. We were keen to convince the BCCI to atleast give us a home series at a neutral venue but that has not materialised so far," he said.
The PCB`s four year contract with Ten sports ended in June this year and in the four year cycle there was no series with India even though under the ICC`s Future Tours Programme (FTP), the PCB and Ten Sports had an agreement for a home series against India in Pakistan or at a neutral venue.
Since the TV rights agreement has ended, the broadcasters are now demanding repayment of a substantial amount which has been utilised by the PCB.
The document further reveals that the PCB was reminded about this big sum when they asked Ten Sports for a late payment surcharge of USD 38,267 for the Pakistan-Australia series, which was played in 2012, as they received the payment after a considerable delay.
Interestingly, the PCB is also facing problems clearing other payments due to limited powers of the caretaker chairman, Najam Sethi and because of a court ruling.
"This has led to a situation where the PCB has also not been able to clear some other payments like an amount of USD 25,000 per month to Haroon Lorgat when he was hired as consultant for the Pakistan Super League earlier this year," one source said.
He said that former chairman, Zaka Ashraf had approved the appointment of Lorgat but never gave an approval in writing for the disbursement of payment to him.