Waqar has been appointed by PCB Patron, President Farooq Ahmad Khan Leghari, in place of PPP front-ranker Salman Taseer who resigned two weeks ago.
Waqar has represented Pakistan in 21 Tests scoring 1,071 runs at 31.50 with a century and six half centuries. It is believed that Javed Burki, President's adviser on cricket, recommended the former Test batsman's name.
Sources stated that President Leghari has approved Waqar's name as PCB Treasurer and the decision has been conveyed to the cricket authorities. It is believed that the official announcement will be made from Lahore and is likely on Saturday when the Executive Council meeting takes place there.
When Waqar Hasan was approached for his comments, it was learnt that the business tycoon was on a foreign business trip (Dubai). He is expected back on Sunday evening. However, sources emphasised that Waqar's consent had been taken otherwise President Leghari would have never taken the decision.
Waqar, who played Test cricket between 1952 to 1959 and was also a member of the Pakistan team's inaugural tour of India, was a member of the Ad hoc Committee that was formed in 1979 under Lt Gen (retd) K.M Azhar. When the board was reshaped under Air Marshal (Retd) Nur Khan, Waqar was made chairman of selectors.
During the tenure of Chief Justice (Retd) Nasim Hasan Shah, Waqar was manager of the Pakistan team that went to Sharjah in 1993-94 under Wasim Akram.
The appointment of Waqar Hasan as Treasurer means that now there will be two technocrats who will be responsible for running Pakistan cricket. But most important is the fact that Waqar's invaluable experience as a successful businessman will help in sorting out the financial problems at the PCB headquarters.
Waqar, immediately after he takes over the office, will inherit the biggest financial problem the PCB is facing - the recovery of Rs 160 million from the World Cup profit. Although Majid Khan is the Treasurer of the PILCOM, Waqar's advice in how the money can be transferred to the PCB accounts might be of great help to Majid.
Though he prefers to be reticent, usually he is to the point and answers queries in a likeable manner. Perhaps his gentlemanly style may be a considerable help to the corps of PCB officials.