PCB shuns idea of turning PSL into autonomous entity

LAHORE: The Pakistan Cricket Board (PCB) has decided to organise the Pakistan Super League (PSL) itself instead of making it an autonomous company.

PSL chairman Najam Sethi had announced in March this year, after the successful second edition of the league, that they were making the PSL an independent body.

But the PCB’s Board of Governors had not been ready for that without involvement of the PCB in its affairs.

The existing laws of the Securities & Exchange Commission of Pakistan (SECP) did not allow induction of parent body (PCB) officials into a private company.

The PCB had at last got information from the finance ministry that the latter were changing laws of the SECP after which it would be possible for the PCB to nominate its officials for the PSL.

Hoping for changes in the existing laws, PCB chairman Shaharyar Khan and Najam Sethi had held a joint press conference, announcing that two officials from the PCB as directors and three from outside would be named in the PSL.

They had been hoping for necessary changes in the laws of the SECP in near future but no change was made.

“Yes, we were hoping for a change in the laws of the SECP but they were not changed because of opposition from different quarters, so, we have now decided to run the PSL ourselves (PCB) instead of making it a separate entity,” Sethi told Dawn, when contacted to comment on the latest development.

There are reports that there were several complications in inducting officials of the PCB as directors into the PSL because several government projects are being run under supervision of independent companies without involvement of government officials.

Published in Dawn, July 26th, 2017

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