Lahore, Dec.30 (ANI): The Pakistan Cricket Board (PCB) inorder to fix its precarious financial position is likely to replace the central contracts retainer structure for domestic regional teams.

In a recent meeting of the PCB's governing body a proposal was put forward to scrap the system and instead increase the match fees of players.

"Proposals were put forward at the governing board meeting but they require approval. There is no doubt there is a need to cut our costs to make up for the year we have had," The Daily Times quoted a PCB official as saying. The PCB pays for travel, accommodation, expenses and the salaries for up to 25 players in every region, in addition to the annual grants for regional and district associations. The expenditure is pinching PCB as the budget of the board has been hit hard by a series of tour cancellations.

Teams like India and Australia have refused to tour the country citing security reasons forcing the PCB to look for other options to dig it out from the financial crunch. (ANI)