The Pakistan Cricket Board (PCB) said that the two players had been suspended as part of an ongoing investigation into an international syndicate which is believed to be attempting to corrupt the PSL which kicked off Thursday.
Opener, Sharjeel recently toured New Zealand and Australia with the Pakistan team and is the only player to have scored a century in the PSL eliminator last year.
The PCB said that Sharjeel and Khalid will remain suspended from all cricket as the PCB, supported by the International Cricket Council (ICC), continues is rigorous and wide-ranging investigation as part of a collective efforts to protect the integrity of the sport.
"It would not be appropriate to comment on the specifics of the case, however this investigation is a clear demonstration of our determination to drive corruption out of the sport," Najam Sethi, Chairman of the PSL said.
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"The investigation of the PCB Anti-Corruption Unit, backed by the ICC ACU, has been effective in dealing with this case to date and we will continue to work in the closest collaboration as the investigation proceeds," Sethi added.
He said the PCB is absolutely committed to relentlessly pursuing anyone who would seek to damage the integrity of our sport.
This is not the first time that Pakistani players have been involved in fixing issues as in 2010 Muhammad Aamir, Salman Butt and Muhammad Asif were banned for five years for spot fixing during the England tour.
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Pakistan Cricket Board Chairman Shaharyar Khan said that under no circumstances will the actions of a few individuals be condoned to bring disrepute to the game of cricket or taint the image of Pakistan.
"I must remind all players of their responsibilities in the fight against corruption. They must understand that if they even think they may have been the subject of a suspicious approach, it is their obligation under the PCB Anti-Corruption Code to report it to an appropriate anti-corruption official as a matter of urgency," he said.