Moves to restructure the International Cricket Council (ICC) to hand power to India, Australia and England, the game's financial powerhouses, were passed in principle during a board meeting on Tuesday.
Imran, who captained Pakistan to their sole World Cup win in 1992, said the proposals harked back to the days when England and Australia had effective right of veto at the ICC.
"If I was the PCB (Pakistan Cricket Board) head I would have strongly objected the new colonial system," Imran told AFP.
"I think the answer is to make the ICC more productive for the betterment of cricket."
No international cricket has been played in Pakistan since 2009, when militants attacked the visiting Sri Lankan team, and Khan warned the new proposals would hit his home country hardest.
He said Tuesday's meeting at ICC headquarters in Dubai reminded him of one he attended in 1993.
"Then India and Pakistan were on the same page and they fought to end the imperialism in the ICC and wanted it to be run in a democratic way," Imran said.
"It became democratic until India, because of its big money influence and supported by Australia and England, made it back to square one."
PCB chairman Zaka Ashraf went into Tuesday's meeting saying Pakistan, Bangladesh, Sri Lanka and South Africa were united against the so-called "Big Three" plans.
He said the PCB's Board of Governors will meet in Lahore on Monday to discuss the next move ahead of a second ICC meeting on February 8.
"We are not against anyone, neither did we try to form any forward block, we just want to move with all members and the matter will be discussed on Monday," Ashraf said at a press conference in Lahore.
He also said he would seek guidance from Pakistan Prime Minister Nawaz Sharif.
Imran, who played 88 Tests and 175 one-day internationals for Pakistan, said the game was in "genuine crisis".
"There is a lack of quality in players, if you talk of spinners or fast bowlers or batsmen, and unless a correct mix is not found cricket will suffer," he said.
"The revenue is coming but money should not be decisive and that's why the quality is suffering which is disastrous."
COMMENTS (12)
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ET post some news about positive developments about KPK. You are stuck with non-issues and downgrading PTI.
We should not be worried about this , we should be worried about the fact that NO other country in the world wants to come to Pakistan to play cricket. Khan saab should understand Pakistani cricket is in crisis not the other nations - It is shameful that we cannot even convict our own cricketers and need to rely on the English to do it for us
Excellent position by IK. i hope PM Nawaz solicits his opinion on this current crisis and other cricketing issues, and I hope IK would respond above political rivalry.
Whatever Imran says, opposite is true.
@Mohd tarekh: India again beaten by New Zealand in the 5h ODI. A 4-Nil defeat to India. By tiger you mean 'Ghar kay Sher'... I guess. India should only play home series and no away series. Just like Pakistan is playing away series and no home series...but still winning.
Words of courage, commitment and of principles. Money and principles should not be confused together...this big three plan is just not cricket.