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Thursday, May 23, 2024

Why would each PSL 5 match cost 23 billion loss to traders?

Each match will cost billions of rupees loss to economy due to security measures taken for tournament.

Pakistani cricket fans are bracing up for a grand opening ceremony of PSL 5 in National Stadium, Karachi. But the business communities across Pakistan are perturbed with the major T20 event kicking off on Thursday, as they believe each cricket match of the tournament would cost an estimated loss of Rs.23 billion.

Lahore Chamber of Commerce Industry, claims that the local business would suffer Rs.23 billion each day owing to the strict security measures taken by the government.

Strict security measures are taken to provide foolproof security to the local and foreign players participating in the Pakistan Super League that includes shutting down off markets and blockade of roads for smooth movements of the teams.

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LCCI affirmed support for the PSL, continued to say that such events promote the soft image of Pakistan countrywide, however, the government should ensure alternate measures to avoid harm to the local business community.

“We are not against cricket matches as these activities are very encouraging and aid in improving the image of our country,” said Vice President Mian Zahid Jawaid Ahmad.

“We are frequently in the contact with government and we are also putting the proposals to the government to make a long term strategy which can help the business community and locals,” he added.

He pressed the government to consult the concerned stakeholders and traders before formulating a security plan. Adding that like sports and recreational activities, business, and trade activities are equally important.

He said they have suggested the government to build a five-star 100-bed hotel in the vicinity of the Gaddafi stadium to reduce inconvenience to the citizens.

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“A state-of-the-art luxurious hotel should be built as soon as possible within the premises of Gaddafi Stadium Lahore for the guest Cricket teams because it is the only solution to address all the concerns,” he added.

“We proposed to the government to establish a separate hotel for the cricket teams in the nearest area to the stadium which can not only serve the security purposes but also give relief to people and if the government allows me then I am ready to construct the hotel,” said the LCCI member.