- Joined
- Oct 2, 2004
- Runs
- 217,862
Quotes from press conference by Amir Mir, Advisor to the PCB Chairman:
"Thank you to all media friends for being here and for your patience. I’m joined by Mr. Javed Murtaza, the Chief Financial Officer of the Pakistan Cricket Board (PCB). I am addressing this press conference as the PCB spokesperson to counter the propaganda spread by the Indian media regarding the Champions Trophy. Claims of significant financial loss to the PCB due to the tournament are baseless.
The truth is, the PCB earned an estimated profit of three billion rupees from the Champions Trophy, exceeding initial estimates of two billion rupees. Additionally, the PCB did not bear any expenses for the event, as it was entirely funded by the International Cricket Council (ICC). The ICC allocated a budget of 70 million dollars for the event and ensured all arrangements were covered.
The revenue for the PCB came from ground fees and ticket sales, with final profits to be confirmed after an ICC audit. This successful tournament demonstrated that the PCB is capable of hosting international-level events in Pakistan, disproving India's security concerns narrative. Teams from cricket-playing nations participated without any security breaches or incidents.
Under Chairman Mohsin Naqvi, the PCB's financial position has strengthened significantly, with record profits earned in the 2023-24 fiscal year. The PCB has also become one of the wealthiest cricket boards globally, paying substantial taxes to the national treasury.
Major upgrades and renovations were carried out at National Stadium Karachi, Pindi Stadium, and Gaddafi Stadium under Naqvi’s leadership. These projects were completed within four months, ensuring Pakistan now has international-standard stadiums to host future events.
It was crucial to present these facts to counter the false propaganda by the Indian media"
Now, I’ll hand over the microphone to Mr. Javed Murtaza, CFO of PCB, for further financial insights"
Javed Murtaza, CFO of PCB
"As Mr. Amir mentioned, our original profit target was PKR 2 billion, which I presented to the Chairman. On the same day, the Chairman called all department heads and set a new goal of PKR 3 billion. Today, by the grace of Allah, we have achieved profits of around PKR 3 billion.
Regarding ICC expenses, they were nominal since all major expenditures were handled by the ICC, as it was their tournament hosted in Pakistan. Our costs were limited to routine daily expenses, with no significant outlays.
I want to reiterate this point: often, it is claimed that we might face losses, but the investments made are long-term, spanning 30 to 50 years. These investments were not limited to hosting the ICC Champions Trophy; they were made for the next several decades. Additionally, PCB has undertaken substantial real estate investments this year, and we will provide details in a future briefing.
We are financially stable and, Inshallah, will remain so. Claims suggesting otherwise are baseless. For further transparency, the financial health report will be uploaded to the PCB website next week.
Regarding India-Pakistan relations, if India aimed to cause financial harm to Pakistan, they will face similar losses. Matches between the two nations are always highly lucrative. With Pakistan now deciding not to visit India for three years, the financial losses India could face will likely outweigh any losses we might encounter from the Champions Trophy.
Lastly, under Chairman Mohsin Naqvi, targets were revised, unnecessary expenses were cut without compromising cricket or cricketers, and revenues were revisited and enhanced. This proactive approach has significantly improved PCB’s financial position, ensuring long-term growth."
"Thank you to all media friends for being here and for your patience. I’m joined by Mr. Javed Murtaza, the Chief Financial Officer of the Pakistan Cricket Board (PCB). I am addressing this press conference as the PCB spokesperson to counter the propaganda spread by the Indian media regarding the Champions Trophy. Claims of significant financial loss to the PCB due to the tournament are baseless.
The truth is, the PCB earned an estimated profit of three billion rupees from the Champions Trophy, exceeding initial estimates of two billion rupees. Additionally, the PCB did not bear any expenses for the event, as it was entirely funded by the International Cricket Council (ICC). The ICC allocated a budget of 70 million dollars for the event and ensured all arrangements were covered.
The revenue for the PCB came from ground fees and ticket sales, with final profits to be confirmed after an ICC audit. This successful tournament demonstrated that the PCB is capable of hosting international-level events in Pakistan, disproving India's security concerns narrative. Teams from cricket-playing nations participated without any security breaches or incidents.
Under Chairman Mohsin Naqvi, the PCB's financial position has strengthened significantly, with record profits earned in the 2023-24 fiscal year. The PCB has also become one of the wealthiest cricket boards globally, paying substantial taxes to the national treasury.
Major upgrades and renovations were carried out at National Stadium Karachi, Pindi Stadium, and Gaddafi Stadium under Naqvi’s leadership. These projects were completed within four months, ensuring Pakistan now has international-standard stadiums to host future events.
It was crucial to present these facts to counter the false propaganda by the Indian media"
Now, I’ll hand over the microphone to Mr. Javed Murtaza, CFO of PCB, for further financial insights"
Javed Murtaza, CFO of PCB
"As Mr. Amir mentioned, our original profit target was PKR 2 billion, which I presented to the Chairman. On the same day, the Chairman called all department heads and set a new goal of PKR 3 billion. Today, by the grace of Allah, we have achieved profits of around PKR 3 billion.
Regarding ICC expenses, they were nominal since all major expenditures were handled by the ICC, as it was their tournament hosted in Pakistan. Our costs were limited to routine daily expenses, with no significant outlays.
I want to reiterate this point: often, it is claimed that we might face losses, but the investments made are long-term, spanning 30 to 50 years. These investments were not limited to hosting the ICC Champions Trophy; they were made for the next several decades. Additionally, PCB has undertaken substantial real estate investments this year, and we will provide details in a future briefing.
We are financially stable and, Inshallah, will remain so. Claims suggesting otherwise are baseless. For further transparency, the financial health report will be uploaded to the PCB website next week.
Regarding India-Pakistan relations, if India aimed to cause financial harm to Pakistan, they will face similar losses. Matches between the two nations are always highly lucrative. With Pakistan now deciding not to visit India for three years, the financial losses India could face will likely outweigh any losses we might encounter from the Champions Trophy.
Lastly, under Chairman Mohsin Naqvi, targets were revised, unnecessary expenses were cut without compromising cricket or cricketers, and revenues were revisited and enhanced. This proactive approach has significantly improved PCB’s financial position, ensuring long-term growth."
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