PCB chief, Shaharyar Khan said the board had completed its homework on the legal options available to press a case against the Indian board for its refusal to play Pakistan in a full bilateral series since 2007 resulting in losses of millions of dollars to Pakistan cricket.
"Our legal preparations are complete but first we will take up the issue of the scheduled series with India in November-December this year at the ICC meeting next month," said Khan, a former career diplomat.
The PCB aware of the existing relations between the two countries has already talked about inviting Bangladesh or Sri Lanka in the same window that India is supposed to play the bilateral series this winter.
Khan said that since 2007 and after the MOU was signed, Pakistan cricket has suffered huge losses because India had not even agreed to give Pakistan a chance to host its due series at a neutral venue.
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Khan said that once the ICC meeting is held and Pakistan takes up the November-December series it will then decide on its future course of action.
"We have not ruled out legal processes to be compensated for our huge losses caused by the refusal of India to play us," he said.
The PCB chief also admitted that the Federation of International Cricketers Association was a big hurdle in the way of international cricket returning to Pakistan.
"We held the final of the Pakistan Super League successfully in Lahore but even now test playing boards are not receptive to sending their teams to Pakistan because of security concerns," he admitted.
Pakistan is due to play a series in Bangladesh in July-August this year and it has asked the BCB to play two of the T20 matches in Lahore.
Khan said that talks were also on for a World eleven to tour Pakistan later this year.
"The fact is that FICA has advised cricket boards and players not to tour Pakistan at this time because of security fears. They even advised the West Indies board from playing a few games in Lahore.