PSL 2023: A Huge Setback For League; Financial Crisis In Pakistan

PSL 2023 faces huge Setback For The League amid ongoing financial crisis in Pakistan

Pakistan Super League 2023 (also known as PSL 8 or, for sponsorship reasons, HBL PSL 2023) is the eighth season of the Pakistan Super League. It is a franchise Twenty20 cricket league that came into effect by the Pakistan Cricket Board (PCB) in 2015. 

Then PCB chairman Ramiz Raja had hinted at an auction system to replace the draft for the 2023 season but they will be retaining the draft. The draft for the league was held on 15 December in Karachi. A total of 36 foreign players were picked with the local players. The PSL 2023 will take place from 13 February to 19 March 2023

The Pakistan Cricket Board (PCB) and its cricketers have always taken great pleasure in the Pakistan Super League and frequently credited it with improving their cricketing system and players. There have been 12 matches played so far in the eighth season of the Pakistan Super League.

With 8 points from 5 games, Multan Sultans are presently in the first place. Quetta Gladiators, on the other hand, have just two points after four games and are at the bottom of the points table.

Economic Turmoil in Pakistan & its Impact on PSL 2023

With the value of the rupee falling, petrol prices shooting, and tariffs on luxury products rising, Pakistan has been sliding into a severe economic crisis. Moreover, China has come in to help by funding 700 billion USD this week. The nation is working day & night to access the next installment of the IMF’s $6.5 billion credit facility (IMF).

But, the Pakistan Super League (PSL 2023) is also facing the unrest that Pakistan’s economy is currently facing. Pakistani conditions have almost little time to improve very soon, and their currency is falling at a startling rate.

In the midst of Pakistan’s ongoing financial crisis, PSL 8 has seen a huge setback. All the franchises will meet in an emergency session with the Pakistan Cricket Board (PCB). The Pakistan Cricket Board is reportedly considering the possibility of moving the league’s remaining matches to Karachi.

A hefty charge for Rs 500 million from the state government has added to the troubles of the Pakistan Cricket Board. It’s possible that Karachi will host the PSL 8 games that were about to take place in Lahore and Rawalpindi. The Pakistan Cricket Board claims that it made this decision due to the need to reduce costs.

As per the sources, Pakistan Cricket Board pays the Sindh government nearly nothing to host the PSL 8 games. This time, the Pakistan Cricket Board (PCB) paid Rs. 50 million for food, but the Punjab government request that the Pakistan Cricket Board pay the entire sum, which is around Rs. 450 million. 

What does the future hold for PSL 2023 teams?

On February 24, 2023, PCB will have a meeting with the PSL 8 franchises. Karachi will be hosting nine PSL 2023 games this season. The major city may host the final game on February 24, 2023. Multan Sultans will play the home team Karachi Kings at the National Bank Cricket Arena (NBCA).

For this season, Rawalpindi will be hosting 11 games. On March 19, 2023, the PSL 8 playoffs and the final game will take place at the Gaddafi Stadium in Lahore.

The Pakistan Super League (PSL 2023) is seeing an impact due to the unrest that Pakistan is now facing. Pakistani conditions have almost little possibility of improving very soon, and their currency is depreciating at a startling rate.

Also, franchises taking part in the upcoming PSL season are experiencing financial losses due to the strengthening US currency. The top T20 league in Pakistan is now in its eighth season.

As per Cricket Pakistan, Pakistani players are getting their pay in dollars on the day of the draft at a cost of 225 rupees to the dollar, placing a heavy financial load on the teams. A team official said in the article claiming that there was no logical justification for paying Pakistani players in dollars.

The franchise owners have spoken with Najam Sethi, the chairman of the PCB management committee, on how to relieve some of the strain on themselves. Franchises and PCB management have not yet come to an agreement, though.

Except for production and foreign cricketers, all other payments in 2021 are made in rupees. The PCB reversed course and mandated that teams pay Pakistani players in US dollars starting in 2022.

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