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The Pakistan Cricket Board (PCB) has started evaluating the financial loss from the New Zealand series that was hit by bomb blast.

The immediate setback PCB got was that it lost 5/18th percent of the earnings from television rights. The PCB was expecting to earn around $2million from TV rights.

The sponsors of the series - Pakistan State Oil- has yet to discuss the subject with the PCB. But in all probability, the sponsorship money would be reduced.

The sponsorship contract was revised to around Rs 9.5million after one Test was reduced from the original three-Test tour for which PSO had signed a contract for Rs11.1million.

The ground hoardings, which were expected to generate Rs10 million, will also go down the drain after the cancellation of the second Test. However, the worst part of the incident is that since the series was not insured, PCB would not recover a single penny from the losses. The PCB, in principle, had decided to get every series insured after New Zealand's tour last year was cancelled. But the practice was not followed for the rescheduled tour.

For the cash-strapped PCB, it was the latest blow that will once again hit their bank balance. Earlier this year, the West Indies refused to tour Pakistan because of security concerns - a decision that was vindicated Wednesday - but honoured their commitment on the neutral venue of Sharjah.

Last year, India had refused to travel to Pakistan because of border tension. The PCB last year lost something around $10 million in revenue from the losses owing to cancellation of India's visit and then New Zealand's tour. Nevertheless, it is going to take days before the PCB can release the exact figures of the loss in revenue.

The issue of compensation will be decided by the International Cricket Council (ICC) during his meeting at Lord's in July. During the meeting, the game's governing body will spell out the procedures and qualifications for compensations.

© Dawn