PSL was to start on March 26 and with the latest announcement, it is not clear when the league will be held. There has been no international cricket in Pakistan since 2009 when Sri Lankan team bus was attacked by terrorists.
In a press release on its website, PCB made the announcement of the league being put off. It said that over 80 foreign players had signed up for the league.
"Over 80 foreign players have already signed agreements with PSL, a number of foreign coaches, umpires and referees have also signed up with PSL." Salman Sarwar Butt, Managing Director PSL, said in the media release.
Butt added: "We have been trying to weigh the pros and cons of going along with the stated timelines and scheduling the event as per plans in March - April 2013. The decision to move away from the planned dates of PSL is an extremely difficult one but for the benefit of all stakeholders and the League, the PCB Management has decided to reschedule the event and move it to a period where there are less scheduling conflicts, and the stakeholders get enough time to develop their business plans."
PCB Chairman Zaka Ashraf said: "We are extremely encouraged by the response to our League from various stakeholders from across the world. Looking at the response it gives us a lot of confidence that our League is a success. We envisage that as suggested, the shift in our timelines will drive more interested stakeholders towards PSL and make this one of the most sought after League in the cricketing world."