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Thursday, 24 January 2013

Pakistan news

Pakistan offer $2m life insurance deal

Nasir Jamshed plays the pull, India v Pakistan, 1st ODI, Chennai, December 30, 2012
Players like Nasir Jamshed could earn over $100,000 tax free in the 10-day Pakistan Super League © BCCI 

Pakistan have offered an insurance policy of $2 million and tax-free income for foreign cricketers who are thinking of participating in the Pakistan Super League (PSL).
Pakistan have not hosted international cricket since terrorists attacked the Sri Lankan team bus in Lahore in March 2009. Since then they have had to play their "home" matches at offshore venues such as England and the UAE. The idea of having a PSL in the country is a strategic move by the PCB to win back the confidence of cricketing nations.
But the world professional cricketers' union FICA has raised its concerns over the security situation in Pakistan and warned players against taking part in the PSL, citing it an unmanageable risk. "We understand their concerns and we can't blame them," Zaka Ashraf, PCB chairman, told ESPNcricinfo. "It's the negative perception about Pakistan that has to be changed and people should understand that things are not so bad.
"But for their sense of security we are offering an optional insurance policy worth $2 million for the satisfaction of their families. They will be our special guests and we are ensuring every possible step to give them security at a higher level and if they think this isn't enough they can take the insurance option as well."
Cricket operations in Pakistan aren't tax exempted but the PCB is offering residential and non-residential players tax-free income from the PSL. Apart from the "emerging" players, they stand to earn between $25,000 and $100,000 for taking part in a 10-day tournament. The base price for the top category diamond player starts at $100,000.
"Government is ready to grant us the exemption on income of the PSL and it's an added advantage of our product for the players to earn tax free income," Ashraf said. "We are offering the most money compared to the other leagues in the world. In ten days you can get the most out of it before going to the IPL starting in April."

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