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Pakistan Cricket Board (PCB) financial losses this year likely to soar to almost $35million after New Zealand's decision not to undertake the tour due to events in United States.

After the PCB suffered a massive $15million loss earlier this year after India refused to cross borders for a three-Test and as many one- day international series, Pakistan is estimated to have lost $15million from the profits of the Asian Test Championship following India's withdrawal.

The New Zealand series cancellation is likely to cost the PCB around $10million through title sponsorships, television rights and ground hoardings.

The director of the PCB, Brig Munawar Rana, admitted that the loss in financial terms was tremendous. "We have lost more than expectations. But I would hate to give a figure or even hint an estimated loss."

With the PCB's earnings almost nil this year, the most important question is how long it can sustain itself and continue to spend lavishly on more than half a dozen foreigners on its books and various projects.

Needless to say that the PCB is already heavily over-staffed with more than two dozen highly paid officials working at Lahore. Recently, the PCB appointed three selectors on handsome salaries.

The PCB are without a sponsor and most of its current income, if any, is because of old contracts the predecessors of the present administration signed. It is probably time that the PCB slashes it budget by at least 50 per cent.

© Dawn