"We hope the series will be revived and we told them we are ready to play in India but revenue should be shared 50-50, but they did not accept the proposal," Butt said in an interview broadcast late Thursday.
India cancelled a series with Pakistan after Islamist gunmen went on the rampage in Mumbai in November 2008, killing 166 people in attacks that India and the United States blamed on Pakistan-based militants.
Pakistan is slated to tour India next February and March in the International Cricket Council (ICC) Future Tour Programme, subject to clearance from both governments.
An ICC Task Team has also called for a revival of cricket between India and Pakistan, saying its absence is felt by millions of fans across the world.
"We had a detailed discussion with them (the Indian board) in Hong Kong last month and hope that something will come out soon," said Butt.
"Naturally, compared to what we earn when we play any other top country, we earn much more if we play India.
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