Under this scheme, 25 women cricketers will benefit and will receive a monthly stipend of PKR 25,000 each from August to October.
While there is no Pakistani in the ICC's elite panel of match referees, the international panel includes Mohammad Anees and Muhammad Javid Malik.
This cost includes players/match officials/curator contracts, domestic events and their prize moneys and academy programmes.
Last month, 10 players had been left out of the England tour squad after they failed to clear the COVID-19 test.
PCB is feeling the financial impact of the COVID-19 pandemic as it has failed to find a main sponsor for the national team.
The decision has been made by PCB's High Performance Department, which is presently busy carrying out a 360 degree appraisal of all its coaches.
The ECB will reportedly spend around half a million pounds on the special chartered flight, which will fly 29 players and 14 officials from Pakistan to England at the end of this month.
The BCCI has ambitions of fielding its own candidate, but there is no clear indication whether president Sourav Ganguly will join the race.
The PCB presently has an overall strength of 710 across the country, including 361 and 70 in Lahore and Karachi offices, respectively.
Top PCB officials are busy formulating a plan to make the training camp possible at a time when the cases and deaths from COVID-19 are on the rise in Pakistan.
During the discussions with the English board held via video link on Friday, it was agreed that Pakistan would play the matches behind closed doors at grounds which have hotels inside the ground.
The Board might face difficulties in getting desired bid amounts for the sale of media broadcasting rights for its international matches at home from 2020 to 2023.
The PCB went ahead with the online tests despite batsman Sohaib Maqsood suffering a leg injury during a similar exercise last week.
The IPL was to be held from March 29 to May 24 but has been postponed indefinitely because of an extended lockdown to combat the deadly virus in India.
Pakistan's coach cum chief selector Misbah-ul-Haq, along with team trainer Yasir Malik, has written a letter to the players, intimating them of the planned fitness tests.