Under the new terms of the contracts former skipper Malik has been promoted to the top category alongwith current captains Misbah-ul-Haq (Test), Azhar Ali (ODI) and Shahid Afridi (T20), while two more ex-captains Younis Khan and Muhammad Hafeez are also in the same group.
While awarding the new contracts, it may seem that Ajmal, who has been dropped to category 'B', has been given a raw deal but in reality the off-spinner has been given a new lease of life after speculations were rife that he will be dropped from the contract list.
The PCB also announced that the monthly retainers as well match fees had been increased across the board and the system of awarding win bonuses for matches and series restored.
"The players will also be given individual performance incentives," the PCB said in a statement without elaborating the financial details.
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The central contracts have been awarded from July 2015 to June 31, 2016 but under an agreement reached between the players and the board. The clauses of the central contracts will now remain unchanged for the next three years with a 10 percent increase in monthly retainers in all categories in 2016/17 and 2017/18 and a 10 percent increase in Test match fees and five percent in ODI fees in 2017.
The contracts were finalised after detailed negotiations between the representatives of the players and board officials since July as the board had already decided to extend the old contracts centrals by six months this year due to the World Cup and other issues.
Under the terms of the contract it has been decided that in future all former and current captains, if they are awarded a contract, will be placed in category A in which after a pay hike a monthly retainer of more than half a million is now guaranteed for the players.