ID :
34023
Fri, 12/05/2008 - 09:43
Auther :
Shortlink :
http://m.oananews.org//node/34023
The shortlink copeid
PCB to insure India-Pak home series
Karachi, Dec 4 (PTI) The Pakistan Cricket Board is working on a contingency plan to avoid financial losses if security concerns derail its scheduled home series including the tour by India in January.
An insurance specialist from England met with PCB
officials in Lahore Thursday and gave a presentation in this
regard.
A senior official of the Board said the specialist had
come to Pakistan on his own expenses and his presentation was
a free of cost exercise.
"We are interested in getting our coming series insured
against cancellation, postponement caused due terrorist
threats or security issues," the official said.
"We have lost money in the past due to the security
situation leading to postponement of home series and we want
to avoid that pitfall again. We don't want to get into
financial problems," Saleem Altaf, the chief operating officer
of the Board said Thursday.
He said a previous exercise of getting home series
against South Africa, Zimbabwe and Australia insured had not
been a gainer for the Board.
"Basically our investigations have shown it was a
re-insurance exercise and we ended up paying around 5 crores
premium without getting anything in return even after
Australia postponed its visit earlier this year," he said.
Altaf said the purpose of inviting the insurance
specialist from the United Kingdom was for the PCB management
to get an indepth knowledge of how the insurance industry
works.
"We are interested in getting our future series insured
as we have also signed a new deal for television rights for
140.5 million dollars. But before we do anything we want to be
absolutely sure of everything," Altaf said.
According to its international calendar, Pakistan has a
packed year hosting major teams like India, Sri Lanka,
Australia and even the Champions Trophy. But security and
safety concerns by touring teams have led to the cancellation
or postponement of several series this year and even before
that.
Even India's forthcoming tour from January 4 to play
three Tests and a one-day series is in doubt after the Mumbai
terror attacks although the PCB said it was confident
something positive will happen.
He said the local insurance the Board had taken out
didn't cover cancellation or postponement of series due to
terrorism.
With security concerns forcing postponement and
cancellation of several events and accusations of misuse of
funds by the previous Board set up, the PCB says it has been
left with only around 1.80 billion rupees in its account. PTI
Cor
DEP
An insurance specialist from England met with PCB
officials in Lahore Thursday and gave a presentation in this
regard.
A senior official of the Board said the specialist had
come to Pakistan on his own expenses and his presentation was
a free of cost exercise.
"We are interested in getting our coming series insured
against cancellation, postponement caused due terrorist
threats or security issues," the official said.
"We have lost money in the past due to the security
situation leading to postponement of home series and we want
to avoid that pitfall again. We don't want to get into
financial problems," Saleem Altaf, the chief operating officer
of the Board said Thursday.
He said a previous exercise of getting home series
against South Africa, Zimbabwe and Australia insured had not
been a gainer for the Board.
"Basically our investigations have shown it was a
re-insurance exercise and we ended up paying around 5 crores
premium without getting anything in return even after
Australia postponed its visit earlier this year," he said.
Altaf said the purpose of inviting the insurance
specialist from the United Kingdom was for the PCB management
to get an indepth knowledge of how the insurance industry
works.
"We are interested in getting our future series insured
as we have also signed a new deal for television rights for
140.5 million dollars. But before we do anything we want to be
absolutely sure of everything," Altaf said.
According to its international calendar, Pakistan has a
packed year hosting major teams like India, Sri Lanka,
Australia and even the Champions Trophy. But security and
safety concerns by touring teams have led to the cancellation
or postponement of several series this year and even before
that.
Even India's forthcoming tour from January 4 to play
three Tests and a one-day series is in doubt after the Mumbai
terror attacks although the PCB said it was confident
something positive will happen.
He said the local insurance the Board had taken out
didn't cover cancellation or postponement of series due to
terrorism.
With security concerns forcing postponement and
cancellation of several events and accusations of misuse of
funds by the previous Board set up, the PCB says it has been
left with only around 1.80 billion rupees in its account. PTI
Cor
DEP
