Dr Nauman Niaz has offered an "unconditional" apology to Shoaib Akhtar for the on-air spat between them but also said that PTV was being "taken for granted" by the former Pakistan pacer and that also contributed in the ugly episode.
Akhtar was told to leave the set by Niaz and former Pakistan cricketer immediately announced that he is resigning as PTV's cricket analyst.
The manner in which Niaz treated Akhtar had caused a storm on social media with many demanding the termination of the TV host.
The incident took place during a World Cup show in which stalwarts like Sir Viv Richards, David Gower, Rashid Latif, Aaqib Javed, Azhar Mahmood, Umar Gul and Sana Mir were also present.
Akhtar had refused to appear before an inquiry committee formed by the PTV management until Niaz was sacked for his behaviour. The committee immediately took both off the air.
Niaz, on Thursday night, said in an interview on a Youtube channel that he had made a grave mistake and his behaviour was unwarranted, inexcusable and appalling.
"I apologise and I will apologise a million times for my behaviour which should not have happened because Shoaib Akhtar is a star," Niaz said.
Niaz also said that the reaction to his outburst was justified, adding "I had no right. To err is human and for that, I apologise. Not only once, but a million times. Shoaib has been a rock star. Whatever happened on camera was unbecoming."
But at the same time Niaz spilled some beans on what were the circumstances that led to the spat.
He insisted he was offering an unconditional apology for the episode. "It was an inexcusable act."
Akhtar said on Geo TV that he had accepted Niaz's apology and for him the matter was closed.
"I don't want to carry on with bitterness in my heart for anyone. That is not my way of living. Once for all whatever happened is over and I have accepted the apology."
With inputs from PTI.