The Pakistan Cricket Board has cancelled the proposed five-year agreement with West Indies for an annual T20 series because of financial issues.
PCB chairman Najam Sethi, however, said the West Indies will tour Pakistan for three T20 matches scheduled for March this year.
"The West Indies will come to play three T20 matches this year in March but the rest of the agreement was not cost-effective," Sethi told reporters.
As per the agreement signed between the two boards in October last year, the West Indies were scheduled to tour Pakistan every year for a T20 series and in return Pakistan are slated to travel to USA every year to take part in a tri-series with the Caribbeans and a third participating country.
The agreement was announced at a press conference amidst much fanfare.
Sethi said that after calculations were done it was found that the West Indies tour to Pakistan was not cost effective due to high production costs and players fees.
"The problem is that with three games we can't get enough sponsors to cover our costs.
So now we have decided on a one-off series this year followed by a tri-series in Florida later in the year," Sethi said.
Sethi said a new MoU was being prepared with the West Indies Cricket Board but it will not have a bearing on the Caribbean team touring Pakistan in late March for the T20 series.