Karachi, July 21: Realising the futility of insisting on hosting 2011 World Cup matches here, the Pakistan Cricket Board is set to accept the International Cricket Council’s decision to move the matches out of the trouble-torn country.

"A formal truce between the PCB and the ICC is expected to be announced on the World Cup issue after a meeting between the heads of the two bodies in Dubai on July 28 or 29," a source said.

"In effect, PCB chairman Ejaz Butt has now accepted that there is nothing more he can do to get back the World Cup matches as the arguments and case of the ICC and the other joint hosts of the tournament are very strong for moving the matches out of Pakistan," the source said.

He said despite spending thousands of dollars on paying legal fees of the law firm in London to prepare a case against the ICC and fight for getting back hosting rights of the World Cup matches, the PCB now has decided to go for a settlement with the ICC. — PTI