Dollar Crisis in PSL 

The eighth season of PSL will be played on February 13. There has already been a frenzy among the country’s cricket lovers. But even before the PSL started, the franchises faced new problems. PSL franchises face a dollar crisis while paying Babar Azam’s remuneration. Franchises are facing this problem due to depreciation of rupee against dollar.

According to Pakistani news sources, Pakistani cricketers are paid 70 percent before the start of the PSL, and the remaining 30 percent after the tournament ends. According to the instructions of the Pakistan Cricket Board (PCB), domestic and foreign cricketers in the draft must be paid in dollars. And the value of Pakistani rupee against the dollar has depreciated much more than before. Due to which the franchises are in trouble while paying the remuneration of the cricketers.

The Pakistani rupee’s record value against the dollar was not expected at the time of the PSL draft. At the time of the PSL draft, 1 dollar cost 225 Pakistani rupees. But recently it has dropped to a record amount. Last Thursday, the price per dollar fell by 9.6 percent to Rs. 255. According to data from the Central Bank of Pakistan, this is the largest gap in the last two decades.

The PSL franchises are facing this problem due to the decrease in the value of the Pakistani rupee. Due to the remuneration of the cricketers, their expenses have increased to 30 percent this time. In the last season of PSL, every dollar was available at 175 Pakistani rupees. But this season, it has increased to Rs.50. The remuneration of cricketers has now increased by Rs. 30. According to news sources, the cricketer got compensation of 3 crore rupees in the seventh season of PSL, but the same cricketer got an additional 82 lakh rupees this time.

Again due to the obligation of PBB, the domestic cricketers also have to pay in dollars. But in the case of domestic cricketers, the franchises did not find any meaning in such an obligation. An official of a PSL franchise said that domestic cricketers also have an obligation to pay in dollars. And because of this the cost figure has also increased. But paying domestic cricketers in foreign currency makes no sense. There is no justification for this. It is also known that no solution has been found even after discussing this matter with the head of PCB.