Azmi said that even though playing in England is a dream for any footballer, he wants to help his Greek side get on their feet.
"There was a misunderstanding" Azmi told FilGoal.com exclusively late on Thursday.
"I don't want PAOK fans to think that I am abandoning the team because I love and respect the club and its supporters.
"PAOK is my home and the place where I became a star."
Reading set an official bid of 700,000 Euros to sign the 23-year-old who has been a regular starter for his side lately.
Azmi also said that his remarks over the switch to England aimed to support PAOK who are hit by a financial crisis.
"What I meant was that if my move to Reading would help PAOK get out of the financial crisis, I would be happy to move out."
"Of course I would like to play in the Premiership, but if now isn't the right time…then be it."
Azmi has been giving steady performances with his Greek side this season and earned the trust of Serbian coach Momcilo Vukotic.
He has been named in coach Hassan Shehata's squad for Egypt's international friendly against South Africa on November 15th.