Board of Control for Cricket in India secretary S K Nair says 'significant progress' has been made on the contract issue and the Board hopes to resolve the matter as quickly as possible.

But for the moment, he said, the Board does not wish to disturb the players as the first Test between India and New Zealand is presently on at Ahmedabad.

Also Read BCCI approves graded payments The Contract system

Speaking to rediff.com during the second day of the first Test against New Zealand in Ahmedabad, Nair said another round of discussions between the Board and players is likely to he held anywhere between the first and second Tests of the current series.

Indian cricketers currently receive Rs 270,000 for a Test and Rs 221,000) for a one-day international. This includes match fees as well as the sponsorship money

Under the new system, 20 players will be paid an annual retainer.

Nair refused to divulge how exactly the 20 players will be selected, but reiterated that significant progress has been made on the issue.

Senior players Sachin Tendulkar, Sourav Ganguly, Rahul Dravid and Anil Kumble represent the players.

For almost two-and-a-half years the BCCI has been talking about graded payments and contracts, but for all the talk little has been achieved.