LAHORE  -  Pakistan Cricket Board (PCB) Monday successfully achieved its income targets while Pakistan Super League in only its third year of operations has emerged as the most successful brand in Pakistan and has become a major source of revenue.

This was noted by PCB Governing Board members here at a meeting held under the chairmanship of Najam Sethi at the National Cricket Academy (NCA). 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 valuation of rights for the next cycle and underlying bidding process is complete. The BoG approved the annual budget for fiscal year 2018-19 with a total income target of Rs 6.4 billion and expenditure of Rs 5.7 billion (without PSL). The budgeted income for 2018-19 is 133% more than previous year's income of Rs 2.79 billion.

On the other hand, this year, the PCB has budgeted to spend 916.36 million on domestic cricket which is 89% more than the previous year. Likewise, budgeted expense on cricket development, talent hunt, academies programs, etc, is estimated at Rs 1 billion which is 52% more than the previous year.

Out of total capital expenditure planned for the next financial year, Rs 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.

In his report, 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 PSL-3 final and the three-match T20I series against the West Indies 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 PSL 2019 home fixtures. The PCB chief 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 ongoing Zimbabwe tour.

The BoG greatly appreciated the 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.

Sethi 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. He 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 PCB chief also spoke about the Future Tours Programme (FTP) which would see Pakistan play 123 matches across the three formats during the 2018-2023 period. During the meeting, PCB 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 and also lauded the chairman and the team PCB for 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). Mansoor Masood Khan will represent the chairman in case of his absence at the ICC board meetings.

The BoG also appreciated the ongoing talent hunt and grooming programmes in regional academies across the country, the BoG was also updated on the proceedings in the National Cricket Academy's High Performance Camp (HPC). They 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, Sethi welcomed FATA's Kabir Ahmed Khan, who has been inducted as the new BOG member.