LAHORE - Pakistan Cricket Board (PCB) on Monday announced the list of 33 centrally-contracted players for the year 2018-19, while veteran cricketer M Hafeez was demoted to B category.

"The central contracts selection committee comprising Director Cricket Operations Haroon Rashid, national chief selector Inzamam-ul-Haq and director academies Mudassar Nazar, had recommended and PCB chairman Najam Sethi approved the attached list of the players listed with categories," said PCB spokesman here on Monday.

The 2017-18 financial year marked the conclusion of a three-year financial formula agreed between the PCB and its players.

“In concert with players' representatives, captain Sarfraz Ahmed and senior player Shoaib Malik, the cricket board is pleased to inform that it has reached a fresh three-year financial remuneration agreement with its players, which will help Pakistani players get a significant earnings rise,” he added.

In the new central contracts, Pakistan Cricket Board has raised the monthly remuneration for each of its categories ranging between 25-30 percent and has also increased its players match fees by 20 percent across the categories. An agreed upon increase will also be given to the players in years two and three of the new agreement.

A new category 'E' has been added to the central contracts to recognise the performers on the domestic circuit as well as to encourage the continuing development of emerging cricketers from the junior cricket level.

The A category includes Azhar Ali, Shoaib Malik, Sarfraz Ahmad, Yasir Shah, Babar Azam and M Amir while M Hafeez, Faheen Ashraf, Asad Shafiq, Hasan Ali, Fakhar Zaman, Shadab Khan come under B category.

The C category comprises the players like M Abbas, Wahab Riaz, Junaid, Khan, Haris Sohail, Imamul Haq, M Nawaz, Usman Khan, Shan Masood and Imad Wasim while D category has Rumman Raees, Asif Ali, Rahat Ali, Usman Salahuddin and Hussain Talat.

In the new special ‘E’ category, the newcomers like Bilal Asif, Saad Ali, M Rizwan, Shaheen Shah Afridi, Sahibzada Farhan, Umaid Asif and Hamza were included in order to motivate them.