Announcing this at a press conference here, PCB chief Nasim Asharf said a new contract based on performance will be enforced within 90 days.
Addressing the media along with outgoing captain Inzamam-ul Haq, the first after Pakistan crashed out of the World Cup in the preliminary round, Ashraf also said the Board's constitution would be implemented soon.
He also praised Inzamam's contribution in Pakistan cricket besides expressing grief over the mysterious death of coach Bob Woolmer.
''I will personally attend the last rites of late Bob Woolmer that will be held at Cape Town on April 4,'' Ashraf said.
Ashraf also announced appointment of new chief operating officer Shafqat Najmi, director cricket operations Zakir Khan and director special projects Salim Altaf.