According to Zaidi, PCB will also be shelling out around Rs 500 million on the expansion and renovation of National Stadium Karachi (NSK).
He said renovation work would begin in August and added that its present capacity will be increased from existing 28,000 to 50,000.
He stated that work will be completed within two and half years.
"We want to bring NSK among the top stadiums in the world with all modern facilities for spectators. We're determined to give Karachi its due status and make it a premier Test and One-day centre of the country."
Besides quality shops and commercial centre in the periphery of the stadium, restaurants will also be installed in each enclosure and VIP seats will be increased from 8,000 to 9,000, Zaidi added.
The PCB Director further said floodlight towers and electronic scoreboard will be installed at Multan and Faisalabad Stadium and these stadia will also brought at par with top stadia in the world.