Wright was picked up by the Kings in the main draft in November 2017 but was forced to withdraw due to a concussion he suffered during the ongoing 2017-18 Big Bash League.
Karachi also replaced Australian veteran Mitchell Johnson with England pacer Tymal Mills, and New Zealand batsman Colin Munro with opener Lendl Simmons.
Johnson had earlier made himself available for the third edition of the PCB’s flagship T20 league but later opted out citing “personal reasons”.
Meanwhile, the Gladiators replaced West Indies T20I captain Carlos Brathwaite with fellow Barbadian Jofra Archer.
Brathwaite, who famously won the Calypsos the 2016 World T20 by hitting four straight sixes in the final over, opted out of the tournament after being picked in the West Indies squad for the upcoming World Cup qualifiers.