With no international cricket team touring Pakistan since March 2009 when militants attacked the Sri Lankan team in Lahore, Shaharyar said the Pakistan Cricket Board had suffered losses in millions of dollars of revenues.
"We want to use this special fund to develop and promote cricket in Pakistan," Shaharyar, who is scheduled to represent Pakistan at the annual ICC meetings from June 27 in Edinburgh, told PTI prior to his departure for London.
Forced to organise its "home" series at neutral venues, mainly the United Arab Emirates, the PCB said that UAE was not proving very cost effective for them.
In order to save money, the PCB wanted to hold its "home" series against the West Indies later this year in Sri Lanka, but it did not work out as the Island nation gets heavy rains at most of their main venues during the scheduled series in September-October.
Also Read
He said that due to financial issues Pakistan was unable to arrange regular bilateral series for its under-19 and A teams and this was affecting development of players.
Pakistan also doesn't have hosting rights for any ICC event until 2023 due to the security situation in the country.
The PCB chief, a former career diplomat, admitted that until the security situation improved in the country, it would not be in a position to convince any board to send its team or even host any ICC team or event.