Pakistan Cricket Board (PCB) chairman Ramiz Raja is keen to see Pakistan Super League (PSL) move away from player draft system and adopt the auction model, most famously used by the Indian Premier League (IPL) since its inception in 2008.

Speaking at the National Stadium in Karachi, as quoted by ESPNCricinfo, the PCB chairman explained the need to "elevate the concept" of PSL by using an auction system that could provide it the financial clout to compete with IPL, by some distance the richest and most popular T20 cricket league in the world.

"We need to create new properties to be financially independent. We have nothing for now but the PSL and ICC funds. There's an argument over the model from next year; I want to switch it to an auction model from next year," he said. "The market forces are conducive, but we'll sit down with the franchise owners to discuss it.

"This is a game of money. When the cricket economy grows in Pakistan, our respect will rise. The main driver of that financial economy is the PSL. If we take the PSL to auction model, increase the purse, then I'll put it in the IPL bracket. And then we'll see who goes to play the IPL over the PSL."

Currently six teams are part of the PSL -- Lahore Qalandars, Multan Sultans, Islamabad United, Quetta Gladiators, Peshawar Zalmi and Karachi Kings. All six franchisee have won the title at least once in the seven seasons, with Islamabad winning it twice. Lahore are the reigning champions having won the 2022 edition by defeating Multan in the final.

The IPL 2022 will have a total of ten teams with Lucknow Super Giants and Gujarat Titans making their debut later this month when the 15th season of the league kicks off in Maharashtra.

Ramiz further opened up on his wishlist for PSL, as he wants to see the teams play on a home and away basis instead of just two venues apart from adopting the auction system. 

"We want the PSL to be on a home and away basis from next year. The gate money will be excellent, and we want to elevate the concept of the PSL.

"Every side's purse will increase, and if they want to improve they'll have to spend money. When you go from a draft system to this, the world's talent suddenly becomes available to you. I've spoken to a couple of the franchise owners; they're quite happy to experiment with this. I'll talk to the others, too. It's in the embryonic stages, but it's top of my wish list."

(With ESPNCricinfo inputs)