"I don't see the series happening in the next one year if it is not held at this time as both teams have international commitment throughout 2016," Khan said.
He also made it clear that the bilateral series with India that is still undecided and the World T20 were two separate things.
"This is a bilateral series between two nations the World T20 is an ICC event."
But the PCB chief said in an interview that the PCB will have to seek permission of its government to send the team to India for the World T20 in March.
"We are monitoring the situation but given the current environment in India with regards to Pakistan we will have to ask our government for permission whether the security situation is ok for us to send our team," he said.
Khan sounded visibly disappointed at the failure of the Indian board and government to clear the short bilateral series with Pakistan in Sri Lanka.
"Yes I know I am being criticized by some people for trying to have this series and pushing for it but in the end we just want it to happen this time or else we will have to wait for the next one year.
"We feel that India must fulfill the MOU signed between the two boards and if the series is held it will play a role in improving India and Pakistan relations."
Khan also insisted that if India didn't agree to play the series the PCB would obviously suffer financial losses but would not go bankrupt.
"By grace of god we are in a stable financial position and though not having the series will deprive us of lot of estimated revenues but it does not mean we will be in a bad financial position."
The PCB chief said he had still not given up hope and even the ICC wanted the two boards to play the series soon.
"We are going to wait for a few more days at the most to get a positive response from India after that we move on to other things," he said.
Khan confirmed that ECB President Giles Clarke was playing the role of a mediator in the whole issue.
"He has been very helpful since he is also the head of the ICC task force on Pakistan cricket. He has also advised us to remain patient and wait for a positive reply," he said.
Khan felt that the Indian board also wanted to play the series but said it was not up to them to convince their government to give clearance.
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