BoG approves reduced 2020-21 budget with 71.2% allocated to cricket
LAHORE: The Board of Governors (BoG) of the Pakistan Cricket Board (PCB) Friday approved Rs 7.76 billion operating expenditure budget for the 2020-21 fiscal year, which is a 10 per cent less than the 2019-20 allocations, as part of the PCB's austerity, robust financial management and belt-tightening exercise.
The decision was taken by the PCB Board of Governors during its second meeting of the year, 58th overall, via videoconferencing under the chairmanship of PCB Chairman Ehsan Mani.
Without compromising and reducing any activities compared with 2019-20, the PCB allocated 71.2 per cent of the overall budget for cricket-related activities. This is to ensure that despite tough financial situation due to COVID-19 pandemic, cricket remains unaffected and the PCB continues to invest in the future.
The allocated 71.2 per cent cricket budget includes 25.2 per cent for domestic cricket (events and players/match officials/player support personnel contracts and High Performance Centre costs), 19.3 per cent for international cricket (home/away series and player contracts), 5.5 per cent for women’s cricket (home/away cricket and player contracts), 19.7 per cent for HBL PSL 2021 and 1.5 per cent for Medical and Sport Sciences.
While forecasting shortfall in revenues due to the Covid-19 pandemic, which has left the fate of revenues from international events hanging in balance and may also affect PCB’s commercial programme, the BoG has agreed to continue investment on infrastructure development by approving a PS 1.22billion budget for capital expenditure, a reduction of approximately Rs 800 from 2019-20.
PCB Chairman Ehsan Mani said: “We have followed a strict cost-benefit and value for money policy while preparing this budget taking into consideration the economic situation due to the Covid-19 pandemic. The budget caters for all critical business of cricket activities, while the nice-to-have activities have been set aside as part of our cost-cutting measures and to protect our reserves for the future.
“I am also grateful to the BoG for approving the capital expenditure budget, which is aimed at enhancing and improving our infrastructure so that we can provide better experience and facilities to our fans and cricketers, and also develop and upgrade our high performance centres across the country. This will be an important investment as we have submitted an expression of interest for some ICC Events in the 2023-31 cycle and quality cricket infrastructure will be one of the key factors that will determine if we are successful in earning hosting rights of any of the events.
“Over the next 12 months, we will continue to ensure strict financial management and controls, and I remain confident that we will deliver all our objectives as per our five-year strategy and within budget.”
Following are the decisions taken by the BoG.
Domestic player contracts for 2020-21:-
PCB Chief Executive Wasim Khan briefed the BoG on the new 12-month merit-based domestic player contracts for the 2020-21 season. The new contracts will come into effect from 1 August 2020.
According to the new monthly retainer structure, the PCB will again offer 192 leading domestic players (32 from each of the six Cricket Associations) performance-based contracts, but instead of paying a flat monthly retainer of PKR50,000 to all players, this season slab-wise payments will be made.
HBL Pakistan Super League 2020:-
The BoG congratulated the PCB management for the successful staging of the HBL Pakistan Super League 2020 until it was postponed on 17 March due to Covid-19 pandemic. The 30 completed matches were played over four venues with more than 500,000 spectators crossing turnstiles to watch live action.
The BoG was informed that the PCB was planning to stage the remaining four matches later in the year, while it plans to add a fifth venue in Peshawar for the 2021 edition, which is scheduled to be held in February and March 2021. - APP