"For the last 15 years Pakistan hockey has been on a steady decline and I don't think my resignation is going to help. I resigned initially because I was totally disappointed with our team returning home from the World Cup without winning a single match," he told media here.
Shahbaz's resignation was under consideration by the PHF.
The sport is in a mess in Pakistan and the country has been forced to withdraw from the FIH Pro League, which also serves as 2020 Olympic qualifiers, after the government refused to release funds.
The last minute withdrawal means Pakistan now run the risk of facing a penalty from the International Hockey Federation (FIH).
We have a called a Congress meeting of the PHF on February 15 and we will finalise a new plan for the steady revival of Pakistan hockey and how to convince the FIH to lift the suspension and not enforce penalty on us," he added.
Shahbaz said the PHF accounts were already under audit and said the federation would like to take everyone on board to find ways to revive the fortunes of Pakistan hockey.
"We have no issues with anyone and we are trying to find sponsors for our first ever hockey super league this year as we believe that once this league is launched and foreign players come it will give the sport a much needed shot in Pakistan," he said.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)