Azhar Mahmood's contract poses major challenge for PCB
According to details, Azhar Mahmood was recently appointed by PCB as the interim coach of the red-ball (Test) team. The official press release had stated that he would continue until the completion of his contract. However, sources indicate that the situation is more complicated than it appears.
Reportedly, PCB's white ball head coach, Mike Hesson, had outright refused to include Azhar Mahmood in his coaching setup. Sources close to Azhar claim that during the tenures of Gary Kirsten and Jason Gillespie, he was told to continue grooming himself as an assistant coach with the promise of becoming head coach later.
When that did not happen, Azhar became disappointed. At one point, he was informally told by an official that he would be given the Test team responsibility, but when no formal announcement was made, he grew concerned and even considered legal options.
The main issue for PCB is a contract signed by the previous administration with Azhar Mahmood, which stipulates that early termination would require payment of six months' salary. Azhar had even offered to work with the U19 team, but that proposal was rejected. His salary is paid in US dollars, which translates to around PKR 7.5 million per month, making him one of the most expensive coaches in Pakistan's cricket history.
To reduce expenses, PCB recently let go of several mentors — including WaqarYounis and SaqlainMushtaq — who were each earning around PKR 5 million monthly. However, removing Azhar before his contract expires would cost PCB tens of millions of rupees. His contract is set to end in March or April 2025, during which he will likely remain with the Test side for only two series: one against South Africa in October-November, and the other against Bangladesh in March-April.
Sources also revealed that Director of High Performance, Aaqib Javed, is not impressed with Azhar's coaching and has openly voiced his concerns in meetings. It is also possible that a permanent Test coach may be appointed even during Azhar's interim tenure.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Recorder
5 hours ago
- Business Recorder
Navigating Pakistan's debt quagmire through Islamic finance
Pakistan faces formidable economic headwinds amidst the dual debt challenges that threaten to undermine its progress. The nation's determination is being tested as it confronts the pressing issues of stagnant GDP growth, soaring unemployment, persistent inflation, and a lagging Human Development Index (HDI). Yet, within this crucible of challenge lies an opportunity for Pakistan to forge a new path forward, one that is guided by visionary leadership, innovative economic strategies, and a steadfast commitment to the well-being of its people. Pakistan's economic landscape is characterized by a substantial debt portfolio; with the country's total public debt obligations reaching a staggering USD 271.29 (PKR 76.01 trillion), as per the Economic Survey of Pakistan 2024-25. This monumental figure comprises USD 183.88 (PKR 51.52 trillion) in domestic debt, underscoring the government's significant reliance on internal borrowing, and USD 79.13 (PKR 24.49 trillion) in external debt (32.2% of the total), highlighting the country's exposure to global financial markets. However, the debt from IMF stands at USD 8.28 (PKR 2.319 trillion). The aggregate debt and liabilities have skyrocketed to a staggering USD 320.65 billion (PKR 89.834 trillion), underscoring the imperative for prudent fiscal management and strategic debt restructuring. Beyond the government's narrative of economic resurgence, anchored by a projected GDP growth rate of 2.7% in the forthcoming fiscal year, lies a far more pressing concern for the average citizen struggling to make ends meet. The quintessential question on everyone's mind is: how can Pakistan escape the grip of high inflation, unemployment (8.0), and an ever-increasing debt burden, which threatens to undermine the very fabric of the nation's economic stability and prosperity? The answer to this million-dollar question holds the key to unlocking a brighter future for 44.7 % of Pakistan's population (approx.107 millions) living below the poverty line, and it is imperative that policymakers and stakeholders work in tandem to devise effective solutions to alleviate these pressing economic challenges. The adoption of cash and asset-based Waqf, a time-tested Islamic financial instrument, presents a viable solution to Pakistan's economic conundrums. Waqf, as a socio-financial approach in Islam, refers to the dedication of property or wealth for religious or charitable purpose. With its roots in the prophetic era, Waqf has evolved over centuries, demonstrating remarkable resilience and efficacy. During the Caliphate period, Umayyad and Mamluk eras, and notably, the Ottoman Empire, Waqf played a pivotal role in fostering economic growth, social welfare, and infrastructure development. By leveraging Waqf's potential, Pakistan can unlock new avenues for sustainable development, poverty alleviation, and economic stability, thereby harnessing the power of Islamic finance to drive inclusive growth and prosperity. Waqf stands as a shining cornerstone of Islamic finance, with its landscape in numerous countries. From the oil-rich nations of Qatar and Saudi Arabia to the vibrant economies of Malaysia and Indonesia, Waqf has been successfully integrated into diverse financial ecosystems. Singapore, Turkey, and the United Arab Emirates have also harnessed its potential, showcasing Waqf's versatility and impact. As a testament to its enduring value, Waqf continues to inspire innovative financial solutions, fostering economic growth, social welfare, and sustainable development worldwide. By combining the redistributive power of cash and asset-based financing of Waqf with Zakat, visionary nations have synergized the potent forces. By harmonizing these two pillars of Islamic finance, countries have created a powerful framework for poverty alleviation, economic empowerment, and sustainable development. This strategic fusion has yielded remarkable outcomes, demonstrating the immense potential of integrated Zakat and Waqf models. In a compelling critique of conventional financial frameworks, the book 'Beyond the IMF (2024)' masterfully articulated the limitations of traditional financial paradigms, paving the way for a revolutionary concept: the Muslim Common Waqf. This visionary idea, coupled with Pakistan's pioneering National Waqf Common Pool, offers a beacon of hope for Muslim countries seeking greater financial autonomy and self-sufficiency. By harnessing the collective potential of Waqf, nations can break free from the shackles of sovereign and domestic financial dependency; unlock new avenues for economic growth and prosperous future. As Pakistan's debt trajectory hurtles towards a precarious PKR 87 trillion by FY 2026, the imperative for innovative debt management strategies has never been more pressing. To avert this financial precipice, it is crucial to devise visionary plans that can effectively mitigate the debt burden, unlock new revenue streams, and catalyze sustainable economic growth. As the Government of Pakistan contemplates the privatization of 24 State-Owned Enterprises (SOEs), a critical question arises: can the nation's economic sovereignty be compromised for the sake of fiscal expediency? Allowing foreign entities and potentially hostile interests to assume control of strategic assets would be a perilous gamble, undermining the country's economic autonomy. The resounding answer is a thunderous 'NO!' to the wholesale privatization of vital SOEs. The establishment of the Special Investment Facilitation Council (SIFC) marks a significant milestone in Pakistan's economic reform agenda. By providing a platform for streamlined facilitation and coordination, SIFC aims to foster a conducive investment environment, attracting both B2B and G2G investments. This initiative is expected to yield substantial benefits, including enhanced economic activity, job creation, and accelerated growth, ultimately contributing to the nation's long-term economic prosperity. We harbor boundless optimism and soaring aspirations for the SIFC, envisioning it as a transformative catalyst that will unlock Pakistan's vast economic potential. In tandem with its economic reform initiatives, Pakistan can shatter the shackles of crippling domestic debt, amounting to PKR 51.52 trillion, a staggering 67.8% of the total debt burden by unlocking the potential of Waqf. By harnessing the transformative power of the Waqf Fund (WF), the nation can envision a debt-free future, liberated from the weight of internal borrowing. Well beyond a financial mechanism, strategic mobilization of Waqf assets is a farsighted way to fiscal sustainability, inclusive growth, and intergenerational equity. Leveraging this Islamic economic instrument could not only alleviate the short-term budget pressure but also restore public confidence, advance socio-economic justice, and propel long-term national strength. With proper policy commitment and institutional setup, Waqf is poised to emerge as a game-changer and revolutionary pillar of Pakistan's economic rejuvenation which turns tradition into transformation, and religion into a bedrock of sustainable prosperity. (The writer is PhD (Management) from PBS-UPM, Malaysia. Policy Researcher / Policy Analyst and a writer of Political Economy of Bureaucracy in Pakistan-2020)Email:[email protected] Copyright Business Recorder, 2025
Business Recorder
7 hours ago
- Business Recorder
Re0.41 decline
KARACHI: Rupee depreciated further against the US dollar in the inter-bank market as it lost Re0.41 or 0.15% during the previous week. The local unit closed at 284.87, against 284.46 it had closed the week earlier against the greenback, according to the State Bank of Pakistan (SBP). In a key development, Pakistan's current account (C/A) posted a massive surplus of $2.1 billion during the fiscal year (FY) 2024-25, a sharp contrast against $2.07 billion deficit recorded in the FY24, SBP data showed. Pakistan currency hit 21-month low at the international matrix of real effective exchange rate (REER) index, depreciating 1.22% to 96.61 points in June 2025, compared to the prior month of May. Meanwhile, foreign exchange reserves held by the SBP increased by $23 million on a weekly basis, clocking in at $14.53 billion as of July 11, data released during the previous week showed. The country's total liquid foreign reserves stood at $19.96 billion. Net foreign reserves held by commercial banks stood at $5.43 billion. Open-market rates In the open market, the PKR lost 1.02 rupee for buying and 1.10 rupee for selling against USD, closing at 287.37 and 288.60, respectively. Against Euro, the PKR gained 76 paise for buying and 38 paise for selling, closing at 334.92 and 338.27, respectively. Against UAE Dirham, the PKR lost 31 paise for both buying and selling, closing at 78.52 and 79.22, respectively. Against Saudi Riyal, the PKR lost 38 paise for buying and 37 paise for selling, closing at 76.81 and 77.35, respectively. ========================================= Weekly inter-bank market rates for dollar ========================================= Bid Close Rs. 284.87 Offer Close Rs. 285.06 Bid Open Rs. 284.46 Offer Open Rs. 284.65 ========================================= Weekly open-market rates for dollar ========================================= Bid Close Rs. 287.37 Offer Close Rs. 288.00 Bid Open Rs. 286.35 Offer Open Rs. 287.50 ========================================= Copyright Business Recorder, 2025
Business Recorder
7 hours ago
- Business Recorder
Lesco: CEO Butt highlights organisation performance
LAHORE: Lahore Electric Supply Company (Lesco) CEO Ramzan Butt stated that during the successful operation 'Bunyan al-Marsus' in response to Indian aggression, Lesco stood alongside national security institutions. Under the directives of federal government, the Lesco established a special war room to ensure electricity supply to sensitive locations. The Lesco not only achieved record recoveries in these 100 days but also uncovered significant electricity theft scandals. The Lesco demonstrated outstanding performance last year by reducing losses of PKR 60 billion and exposing major electricity theft scandals, which is commendable. The Lesco took action against electricity theft, seizing 22,694,400 units valued at PKR 893,937,712. Of this, PKR 244,669,693 recovered, with 30,747 FIRs filed, 18,102 registered, and 716 individuals arrested. The Lesco also recovered Rs 1.895 billion from 42,588 defaulters. To address public complaints promptly, 13,744 court sessions were held, resolving 558 out of 585 overbilling complaints. Additionally, 1,088 complaints regarding faulty meters were resolved immediately, and 432 out of 444 transformer fault complaints were addressed. All 3,738 complaints regarding new connections were also resolved promptly. The longstanding issue of overbilling complaints has been diligently addressed, which was considered impossible just a few months ago. The Lesco successfully completed the annual maintenance of 123 grid stations. This maintenance work has proven crucial not only for enhancing the system's consistent performance but also for preventing overloads and faults, resulting in improved system performance and a reduction in complaints during the monsoon season. With the arrival of the monsoon season and Muharram, the Lesco has put all offices and operational teams on high alert. Additional materials were provided to ensure continuous electricity supply during Ashura. The Lesco has signed a historic agreement with CISNR aimed at digitizing the distribution network, reducing line losses, and promoting effective integration of solar energy. This agreement reflects Lesco's commitment to a digital and environmentally friendly future. New uniforms have been issued for line staff to enhance safety and identification, new mobile devices have been provided for meter readers, and a 'Lesco Safety Book' has been released for the protection of field staff. The Lesco has invited all vendors and manufacturers to register on the E-PADs digital portal to make the procurement system transparent, efficient, and modern. Special training programmes for female employees have been organized at Lesco's Regional Training Center (RTC), focusing on technical skills, safety measures, and administrative matters. These training programmes reflect Lesco's vision of promoting gender equality and inclusion. To ensure timely resolution of consumer complaints, 12 mini trucks have been provided to various offices for operational teams to ensure immediate response. The Lesco has successfully completed the project of undergrounding electricity wires around the Lahore Fort and Mall Road, aimed at enhancing the beauty of the city and preserving historical sites. This initiative is a significant step towards environmental and technical improvement. Copyright Business Recorder, 2025
