ICC officials conclude Lahore visit without comment on Pakistan’s participation in India World Cup

Pakistan Cricket Board's management committee chairman Najam Sethi, left, the International Cricket Council's chairman Greg Barclay, centre, and chief executive Geoff Allardice smile during their visit to PCB head office, in Lahore, Pakistan, Tuesday, May 30, 2023. (AP)
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Updated 01 June 2023
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ICC officials conclude Lahore visit without comment on Pakistan’s participation in India World Cup

  • India have declined to tour Pakistan for September’s Asia Cup and want entire series be held in a neutral country
  • Pakistan has proposed hybrid model in which Pakistan to host some games while most organized at neutral venue

ISLAMABAD: The Chair of the International Cricket Council, Greg Barclay, and ICC Chief Executive Geoff Allardice, concluded a two-day visit of Lahore and lauded Pakistan’s cricket facilities and programs on Thursday but did not comment on the country’s participation in this year’s 50-over World Cup in India.

Tense political relations between the two neighboring countries has seen both nations suspending their bilateral cricketing ties for a decade, but they have regularly competed in ICC events.

India has already declined to tour Pakistan for the Asia Cup in September which has not gone down well with the PCB. Sethi has proposed a hybrid model to the Asian Cricket Council in which Pakistan would host only four games, not featuring India, while the rest of the tournament will be organized at a neutral venue.

“During the pre-arranged two-day visit, Mr.Barclay and Mr.Allardice met with the Chair of the PCB Management Committee, Mr.Najam Sethi, and other PCB officials, and discussed wide-ranging matters of mutual interest around cricket, including promotion, growth and development,” a statement by PCB on Thursday said.

The statement made no mention of Pakistan’s participation in the World Cup. Dates and venues for the World Cup, to be played in October-November, will be announced after the World Test Championship (WTC) final in London from June 7.

“It has been great to be here. My approach has been to visit all the Member countries and see how cricket and cricket administration operates in their respective jurisdiction as every country and Member is different in terms of size, scale, economy and where they might sit in the cricketing hierarchy,” Barclay was quoted in the statement as saying.

“The cricket facilities in Pakistan and the cricket programs are great and now, that international cricket has returned to Pakistan and the PCB is able to successfully deliver bilateral arrangements at home, I think we’ll see Pakistan cricket reach another level for both men and women, and that will also have a positive impact in terms of commercial upside.”

He said the future for Pakistan in terms of female participation and international successes was “going to be huge in terms of potential.”

“From the ICC’s view, given that we have a strategy to grow the game globally, to see where the PCB fits in is also very pleasing. I am going to leave here well impressed with what I have seen,” Barclay said.

“The PCB looks forward to continuing our discussions and working closely with the ICC to put together global strategies and plans that are not only in the best interest of all its Members but also achieve the common objective of growing and developing the game by attracting new audience,” Sethi, who is also an ICC director, said.

Sethi said earlier this month there was a “very real possibility” of Pakistan boycotting the World Cup in India should PCB’s proposal to stage at least some Asia Cup matches on home soil not be accepted.


IMF board to approve Pakistan reviews today ‘if all goes well,’ say officials

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IMF board to approve Pakistan reviews today ‘if all goes well,’ say officials

  • IMF’s executive board is scheduled to meet today to discuss the disbursement of $1.2 billion
  • Economists say the money will boost Pakistan’s forex reserves, send positive signals to investors

KARACHI: The International Monetary Fund’s (IMF) executive board is scheduled to meet today, Monday, to approve the release of about $1.2 billion for Pakistan under the lender’s two loan facilities, said IMF officials who requested not to be named.

The IMF officials confirmed the executive board was going to decide on the Fund’s second review under the $7 billion Extended Fund Facility (EFF) and first review under the $1.4 billion Resilience and Sustainability Facility (RSF), a financing tool that provides long-term, low-cost loans to help countries address climate risks.

“The board meeting will be taking place as planned,” an IMF official told Arab News.

“The board is on today yes as per the calendar,” said another.

A well-placed official at Pakistan’s finance ministry also confirmed the board meeting was scheduled today to discuss the next tranche for Pakistan.

The IMF executive board’s meeting comes nearly two months after a staff-level agreement (SLA) was signed between the two sides in October.

Procedurally, the SLAs are subject to approval by the executive board, though it is largely viewed as a formality.

“If all goes well, the reviews should pass,” said the second IMF official.

On approval, Pakistan will have access to about $1 billion under the EFF and about $200 million under the RSF, the IMF said in a statement in October after the SLA.

The fresh transfer will bring total disbursements under the two arrangements to about $3.3 billion, it added.

Experts see smooth sailing for Pakistan in terms of the passing of the two reviews, saying the IMF disbursements will help the cash-strapped nation to strengthen its balance of payments position.

Samiullah Tariq, group head of research at Pakistan Kuwait Investment Company Limited, said the IMF board’s approval will show that Pakistan’s economy is on the right path.

“It obviously will help strengthen [the country’s] external sector, the balance of payments,” he told Arab News.

Until recently, Pakistan grappled with a macroeconomic crisis that drained its financial resources and triggered a balance of payments crisis.

Pakistan has reported financial gains since 2022, recording current account surpluses and taming inflation that touched unprecedented levels in mid-2023.

Economists also viewed the IMF’s bailout packages as crucial for cash-strapped Pakistan, which has relied heavily on financing from bilateral partners such as Saudi Arabia, China and the United Arab Emirates, as well as multilateral lenders.

Saudi Arabia, through the Saudi Fund for Development, last week extended the term of its $3 billion deposit for another year to help Pakistan boost its foreign exchange reserves, which stood at $14.5 billion as of November 28, according to State Bank of Pakistan statements.

“In our view this [IMF tranche] will be approved,” said Shankar Talreja, head of research at Karachi-based brokerage Topline Securities Limited.

“This will help strengthen reserves and will eventually help a rating upgrade going forward,” he said.

The IMF board’s nod, Talreja said, would also send a signal to the international and local investors regarding the continuation of the reform agenda by Pakistan’s government.