Talking to the Pakistani media in Napier on Monday, Butt, however, refused to say which among all-rounder Shahid Afridi and Test captain Misbah-ul-Haq would be given the reins of the team for the mega-event starting February 19.
"We will announce the captain on February 4 that is decided now," he added.
Butt also disclosed that India were willing to play a short series against Pakistan in England sometime this year.
"We have made good progress in talks with the Indian board to resume bilateral cricket ties and they have indicated they are willing to resume ties," he said.
But the PCB chief made it clear that any final decision on resumption of bilateral cricket ties with India would rest completely with decisions taken at the government level.
"Hopefully, decisions would be made at the government level on the series but the Indian board has shown its willingness to play which is good news for us," Butt said.
The PCB chief admitted that it was important for international cricket and for Pakistan to have bilateral ties with India.
"The financial aspect of playing India regularly in bilateral series is very important for us," he explained.
India has not played Pakistan in a bilateral series since late 2007 and had cancelled its tour to Pakistan in early 2009 in the wake of the Mumbai terror attacks in November, 2008
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