"To say that only I or my fellow selectors should resign because the team performed badly in the Champions Trophy is unfair. I think the responsibility for this poor show lies with everyone not just the selectors," he said.
The former Test spinner has faced calls for his resignation following Pakistan's three straight losses in the eight-nation tournament in England.
Pakistani batsmen failed miserably in the major event.
"If a team does well everyone takes credit including the board, selectors and national team management. Similarly I believe that if a team does badly the selectors and team management must share the responsibility and take the blame for this," he said.
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"But I was asked to continue till further notice. The national selection committee in consultation with the team captain and coach selected the best possible players for the Champions Trophy. If some of them didn't perform than we must all share the blame," he added.
The former spinner pointed out that no one expected the batting to fare so badly.
"We had lot of experience in the batting if you look at Imran Farhat, Hafeez, Malik and Misbah unfortunately except for Misbah the others didn't click, "he said.
"Razzaq has not been playing any domestic cricket so he was not considered while Afridi and Younis have been struggling of late. So we thought we could give others a chance to establish themselves. Unfortunately that didn't happen."
The chief selector also said that the time was right to start building a team for the 2014 T20 World Cup and 2015 World Cup.