The duo worked together from 1971-1987 for nearly 25 films like "Deewar", "Zanjeer" and "Sholay". Their last movie together was Shekhar Kapur's "Mr India" in 1987.
While Akhtar took to lyrics and dialogue writing post split, 79-year-old Salim Khan took a back seat.
"It's ok even if Salim doesn't work anymore. The kind of work he has done, it is a treasure trove for many generations to come, the 70-year-old lyricist said.
"If someone comes even close to what he has achieved then Salim will start working again," Akhtar told reporters here at the opening ceremony of the 17th Jio MAMI Mumbai International Film Festival, where the duo was honoured with 'Excellence in Cinema-India' award for their contribution to movies.
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While receiving the honour, Akhtar said the secret to their success was the fact that they were similar, yet different from each other.
"Two kinds of people shouldn't work together. One who are exactly similar, because then you don't need two people. And another, who are totally different, with no common ground. Our partnership worked because we had lots of similarities, but differences too," he said.
The acclaimed poet and scriptwriter advised the young generation of writers to follow their will, rather than succumbing to the demands of others.
"Younger generation should think about what they like and not what others like. Because, at least that way you will have one person who is sure to like your film.