PCB Quash Fresh Idea Of PSL As An Autonomous Body
In the fresh announcement, the Pakistan Cricket Board on Wednesday has dismissed the proposal of the Twenty20 domestic competition entity Pakistan Super League (PSL) of turning it as an autonomous body while reiterating the Board will supervise the company itself in a bid to organise the editions in the foreseeable future. (Read Here: Najam Sethi Tips Pakistan To Host Eight PSL Matches In 2018).
As PCB and PSL Chairmen Shaharyar Khan and Najam Sethi expected a certain change in the course of a law, the Executive member of Pakistan’s board revealed no changes have taken place within the SECP after holding a joint presser.
“Yes, we were hoping for a change in the laws of the SECP but they were not changed because of opposition from different quarters,” Sethi was quoted as saying by Dawn.com.
In the press conference, both revealed the directors would be appointed in the form of two PCB officials, as other three members would be picked outside the Board for the PSL itself.
It becomes pertinent that PSL management has floated the idea of making the venture an autonomous body to achieve more desired results after the completion of two successful editions since 2016 in the United Arab Emirates (UAE).
However, the board has been clear while revealing the PSL won’t be allowed to form as an independent body.
“We have now decided to run the PSL ourselves (PCB) instead of making it a separate entity,” Sethi maintained.
However, according to the report of Dawn, the PCB officials came to know about the laws which were expected to change the process of the Securities and Exchange Commission of Pakistan (SECP) under the scrutiny of the finance ministry.
Moreover, the current laws won’t allow the introduction of the PSL as the private body which has been run by its parent company PCB.
In clear response, the Board of Governors within PCB has objected the move while declaring the process would stay null and void if the Board’s involvement won’t take place in its state of affairs for the foreseeable future.
If the laws of SECP would have had been changed, the PSL could have been in a state of an independent body, but the laws remained as it is.
In March 2016, it was PSL chairman Najam Sethi himself, who had wished to frame the autonomous body after the much-awaited final became an instant hit at Gaddafi Stadium in Lahore.
Tahir Ibn Manzoor
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