ISLAMABAD: None of Pakistan’s cricket stadiums in their present condition meet international standards, Pakistan Cricket Board (PCB) Chairman Mohsin Naqvi admitted on Monday, as the South Asian country spruces up its grounds ahead of next year’s marquee Champions Trophy tournament.
The PCB has been carrying out renovation work at the Lahore and Karachi stadiums ahead of Champions Trophy 2025, scheduled to be held in February next year at three venues in Lahore, Karachi and Rawalpindi. The international tournament will be the first ICC one to be held in Pakistan since the ODI World Cup was last hosted by the country in 1996.
Pakistani fans have long complained that the country’s stadiums, especially the National Bank Stadium in Karachi, are not equipped with basic facilities and offer a poor viewing experience for spectators.
Speaking to reporters after reviewing construction work at the Qaddafi Stadium in Lahore, Naqvi said there is a huge difference between Pakistan’s cricket stadiums in their present state and other international stadiums across the world.
“With apologies, none of your stadiums could qualify according to international [standards],” Naqvi said. “Neither did they have seats, nor bathrooms and the view was such that it seemed you were watching from 500 meters away,” he added.
The PCB announced last week it would hold the second Test against Bangladesh in Karachi without spectators due to the ongoing construction work. However, it said on Sunday that the Test would be played in Rawalpindi instead of Karachi due to the renovation.
When asked whether there was a lack of coordination in the PCB, Naqvi said:
“There is no lack of coordination between anybody,” Naqvi said. “The PCB had planned to hold matches there without spectators but when security institutions tell us to hold the matches without any crowd and to also stop construction activity, then it is not possible to hold matches.”
Another reporter asked Naqvi whether the construction work at Pakistan’s stadiums would be complete by the time the ICC starts its inspection for the mega tournament next month, the PCB chairman said:
“Yes, for sure. The stadium in New York was completed in the last 10-15 days [before the T20 World Cup 2024]. We will complete it before then.”
The first Test between Pakistan and Bangladesh begins on August 21 in Rawalpindi, where the hosts are preparing to go in without a specialist spinner in anticipation of a pitch with pace and carry. The second Test will start at the same venue on August 30.
No Pakistani stadiums at par with international standards, PCB chairman says ahead of Champions Trophy
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No Pakistani stadiums at par with international standards, PCB chairman says ahead of Champions Trophy
- Mohsin Naqvi says Pakistani stadiums in present state lack bathrooms, adequate seats and offered poor viewing experience
- Statement comes as PCB renovates Pakistani stadiums in Karachi and Lahore ahead of February 2025 Champions Trophy event
Pakistan stocks recover as oil supply fears ease after Islamabad seeks Red Sea route— analyst
- Pakistan has sought Saudi help to secure oil supplies via Red Sea port after Iran’s closure of Strait if Hormuz
- Analyst says higher crude oil prices, expectations of IMF releasing next loan tranche also triggered bullish activity
ISLAMABAD: Pakistani stocks marked a sharp recovery when trading closed on Thursday, as institutional activity increased following Islamabad’s move to seek crude oil supplies through the Red Sea port eased oil supply fears, a financial analyst said.
Pakistani stocks have recorded a sharp decline this week, with the benchmark KSE-100 index recording its largest-ever single-day decline on Monday when it plunged 16,089 points. Escalating conflict in the Middle East triggered panic selling at the Pakistani bourse, forcing a temporary trading halt on Monday.
The KSE-100 index, however, gained 3.49 percent or 5,433.46 points to close at 161,210.67 when trading ended on Thursday, up from the previous close of 155,777.21 points, according to Pakistan Stock Exchange’s (PSX) data.
Pakistan’s Petroleum Minister Ali Pervaiz Malik met Saudi Ambassador Nawaf bin Said Al-Malki on Wednesday to discuss Iran’s closure of the key Strait of Hormuz, which has threatened Pakistan’s energy supply. Roughly 20 percent of the global oil and gas supply passes through the route. Saudi Arabia indicated it could facilitate shipments through the Red Sea port of Yanbu, offering an alternative route if Gulf shipping lanes remain disrupted, the petroleum ministry said on Wednesday.
“Stocks staged a sharp recovery at PSX amid institutional activity on easing fuel supply fears after KSA [Kingdom of Saudi Arabia] commits oil supplies through the Red Sea port,” Ahsan Mehanti, chief executive officer at Arif Habib Commodities, told Arab News.
He said higher global crude oil prices and expectations of the International Monetary Fund releasing its next tranche of the $7 billion loan for Pakistan also helped bullish activity at the PSX.
An IMF mission was in Pakistan to hold talks on the third review of a $7 billion Extended Fund Facility multi-year program, and for the second review of the $1.4 billion Resilience and Sustainability Facility this week.
However, the delegation left for Türkiye amid tensions in the Gulf. Pakistani officials have said talks are likely to continue virtually in the coming days.
Pakistani brokerage Topline Securities said in its daily market review report that strong institutional buying “turned the tide” on Thursday after the market’s recent overreaction to regional issues.
The report added that Hub Power Company (HUBC), Oil & Gas Development Company (OGDC), Fauji Fertilizer Company (FFC), Engro Corporation (ENGROH), and Meezan Bank Limited (MEBL) collectively contributed 2,197 points to the KSE benchmark’s gain.
Topline Securities said 723 million shares were traded on Thursday, with K-Electric Limited (KEL) stealing the spotlight as more than 1.17 billion shares changed hands.
Pakistani investors are closely monitoring developments in the Gulf, particularly around energy routes and further retaliatory actions, as the conflict’s trajectory remains uncertain.
