The PCB has enhanced the central contract monthly retainers by 25 percent and the match fees by 10 percent but did not release the names of the players, who are to get the contracts.
The Board hosted a reception on Friday to honour the Pakistan team which won the Asia Cup. PCB chief Zaka Ashraf announced a cash prize of 400,000 each for the members of the winning squad and 200,000 each for the management staff.
PCB chief also announced that a total of 42 players would be given the new central contracts and retainers but did not release the names of the players.
"The players are our assets and we are very proud of their achievements in the last one year. It is the duty of the Board to look after their welfare and well being and at the same time we expect the players to play with 100 percent commitment and conduct themselves as proper ambassadors of the country," Ashraf said at the function, attended by all members of the team, management, former heads of the Board and former Test and international players.
Sources in the Board said that while the Chairman had confirmed the pay hikes but the final list of players would be confirmed at a meeting on Saturday which would be attended by Pakistan test and one-day captain, Misbah-ul-Haq.
"Misbah has been invited for the meeting which will be attended by the chief selector Iqbal Qasim, Intikhab Alam and other board members who were on the committee that finalised the new central contracts," the source said.
He said the purpose of inviting Misbah for discussions was to inform him about the players picked to get the new contracts and retainers and also to brief him in detail about the new clauses in the contracts.
In the last central contracts that expired at the end of December, 2011 players in category A were given a monthly retainer of 250,000, those in category B got 175,000 and those in category C 125,000.
After the hike, players in the top category will now get 312,000 rupees.