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Miandad said keeping in mind the huge stakes involved in the so called domestic event of the BCCI, the world governing body of the game must intervene.
"Just to say the IPL is a domestic event does not work. IPL has too much foreign participation and interest at stake. ICC must supervise its organization from now on," he said.
Miandad, who is Director-General of Cricket in the PCB, said that he was not surprised at the turn of events in the IPL or the suspension of its commissioner Lalit Modi.
"It is not surprising because when you allow a private enterprise to deal directly with players bypassing the boards there is always bound to be trouble.
"I have been saying from day one that the ICC can't allow any Board to operate such private enterprises without a proper system of check and balance," Miandad said.
He contended that by allowing the IPL to deal directly with players, a wrong trend was set.
"Who is there to stop Modi from telling a player, 'Your country pays you so much I will pay you thrice as much' and this leads to conflict of interest for the players."
The former Pakistan captain and coach said lot of hype was created around the IPL for a purpose but realistically it did nothing for the betterment of cricket.
"Already there is so much T20 international cricket being played these days. Why should we have the IPL and one week later the World Cup. What is more important," he said.
No Pakistani player participated in the just concluded IPL-III as no franchise bid for them at the auction. As many as 11 players, including Pakistan's T20 captain Shahid Afridi, were part of the auction but went unsold.
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