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    PCB to announce deficit budget soon

    Karachi: The Pakistan Cricket Board is likely to announce a deficit budget for the year 2012-2013 after it is approved at its general body meeting in Naudero next week. A senior official of the PCB told PTI Saturday that the next fiscal year's budget will be in the red because revenue sources for the board had dried up this year.

    "In the fiscal year 2010-2011 we had an even budget because of the income we received from the ICC for the 2011 World Cup and before that the 2010 T20 World Cup and that boosted our coffers," the official said.

    He said this year however the PCB received no additional income from the ICC and expenses had increased after a hike in the match fees and annual retainership of contracted players. "Expenses have also increased due to the frequent home series we have had to organise at neutral venues," he said.

    Sources said last year the board received around USD 15 to 17 million as part of its hosting rights fees and compensation from the World Cup. "It has been a difficult time for the board since foreign teams stopped touring Pakistan after the 2009 incident in Lahore," the official said referring to the militant attack on the Sri Lankan team in March, 2009.

    Sources said the board is also pinning its hopes on the resumption of bilateral ties with India by the end of the year to boost its revenues.