"We are waiting and watching to see what happens. We have had a clear discussion with our government representatives on the IPL issue and on sporting ties with India," Butt said.
"There is no doubt our players were insulted by the way they were ignored by the franchise at the IPL auction and we are not accepting the arguments and excuses being forwarded by the IPL and franchise owners on why they couldn't bid for our players who are the Twenty20 world champions," he added.
He said recent reconciliatory statements emanating from India were a positive sign.
"Modi has said he would be talking to us which has not happened as yet. We have to wait and see what happens in next few days and then decide on future ties with the IPL," he said.
Butt said so far the PCB has not made up its mind on whether to allow players to go and play in the future editions.
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