Pakistan's cricket Board says it does not have the funds to introduce central contracts for its players.
Pakistan vice-captain Yousuf Youhana had urged the Board on Tuesday to introduce a contract system to stem a surge in injuries among top players.
"Introducing a central contract system means a payment of approximately $320,000 per year to each player," Ramiz Raja, chief executive of the Pakistan Cricket Board told Reuters on Wednesday.
"We're not in a position to do that."
Pakistani players are currently paid per match according to a grading system based on seniority.
Youhana said contracts would protect players from injuries sustained by playing abroad in the off-season.
The PCB has made a huge profit from the current home series against India.
"We've earned over $21 million from this series, which is twice the amount we have in our reserves," Raja said.
"But we have to spend this money on improving our first class and junior structure, our academy programmes and on other development projects."
Pakistan suffered heavy financial losses after the September 11 attacks in the United States when teams refused to tour Pakistan because of the war in nearby Afghanistan.
Raja said the India series had allowed the Board to recover some of those losses.
