The International Cricket Council (ICC) has awarded the hosting rights to India, Pakistan, Sri Lanka and Bangladesh.
"It has been decided in a meeting of all four boards in London that all four should evenly play a part in hosting major events of the tournament," PCB Director Abbas Zaidi told Reuters.
"It is decided that India will host the final while the semi-finals would be held in Sri Lanka and Pakistan. Bangladesh has been given the opening ceremony."
India is due to host 22 matches, with Pakistan holding 16, Sri Lanka nine and Bangladesh six.
The 2007 World Cup will be held in West Indies.
Meanwhile, Zaidi also said former Indian skipper Sunil Gavaskar had only been given a one-year extension to his position as chairman of the ICC's powerful cricket committee.
"The move was to retain him for another three years but he has been given an extension only for one year as we feel other countries should get a chance," said Zaidi.
Pakistan had nominated their former Test captain Majid Khan to replace Gavaskar, saying they were dissatisfied with some of the committee's recent decisions.
Pakistan led opposition to the committee's recommendation that would allow players to make three appeals per innings to a third umpire.
