"Inzamam told us that he would not be available for the first Test starting here from Monday but he did not give any reasons for that," chief selector Salahuddin Ahmed told reporters.
The 37-year-old Inzamam announced his retirement from one-day internationals and resigned the Test and one-day captaincy following Pakistan's humiliating first-round exit from the World Cup in the West Indies in March.
However, Inzamam vowed to continue playing Tests and featured in several matches for Yorkshire in England to prove his fitness and form.
Inzamam, who has scored 8,813 runs in 119 Tests, needs another 20 to beat Javed Miandad's Pakistan Test record of 8,832 runs.
Ahmed said if available Inzamam would be considered for selection in the second Test to be played in Lahore from October 8.
Pakistan received a boost on Thursday when ace batsman Mohammad Yousuf said he would cancel a contract with the breakaway Indian Cricket League and made himself available for Pakistan.
Middle-order batsman Misbah-ul Haq and opener Taufiq Umar meanwhile earned recalls in the team.
Misbah played the last of his five Tests against Bangladesh in Karachi in 2003. He won another chance after finishing as Pakistan's best batsman in their runners-up finish at the Twenty20 World Cup in South Africa.
Ahmed said paceman Akhtar was not considered for selection as he faces a disciplinary hearing in the next couple of days.
"As per the policy of the Pakistan Cricket Board a decision against Akhtar is lying with the disciplinary committee so Akhtar was not considered," said Ahmed.
Akhtar was sent home from South Africa four days before the start of the Twenty20 World Cup, after he hit teammate Mohammad Asif with a bat in a row during a practice session.
The Pakistan Cricket Board said a disciplinary committee would decide on penalties against Akhtar by October 8 -- the day the second Test starts in Lahore -- which effectively rules him out of the two-match series.
The selectors also allowed all-rounder Shahid Afridi to rest after he said that he did not want to be considered during the Muslim fasting month of Ramadan.
Uncapped left-arm spinner Abdul Rehman will assist leg-spinner Danish Kaneria in the spin department. Allrounder Shoaib Malik will lead the team.
Squad: Shoaib Malik (capt), Salman Butt, Mohammad Hafeez, Younis Khan, Mohammad Yousuf, Misbah-ul Haq, Kamran Akmal, Mohammad Asif, Umar Gul, Rao Iftikhar, Danish Kaneria, Faisal Iqbal, Yasir Hameed, Taufiq Umar, Abdul Rehman.