The 33-year-old was not named in any of the 16 teams for Pakistan's inaugural Twenty20 competition, and will not be considered for next month's four-nation T20 tournament in Canada if he does not play the October 4-8 domestic event.
Akhtar, who is currently playing for English county side Surrey, owes seven million rupees (100,000 dollars) for criticising the PCB over its failure to award him a central contract.
He was originally banned for five years but the penalty was eventually reduced to a fine by an appeals commission and the Lahore high court.
"Legally speaking the Lahore High court upheld the fine and suspended the ban so if he wants to play for Pakistan and in Pakistan, Akhtar will have to pay the fine," PCB legal adviser Taffazul Hussain Rizvi told AFP.
Rizvi said Akhtar has not replied to letters demanded payment and has not tried to fix a date for the hearing of his high court petition against the fine.
Last month the PCB included Akhtar in a 15-man squad for the Champions Trophy, saying his appearance did not depend on paying the fine. However, the Trophy was postponed for 12 months over security fears.
Akhtar's colourful career also includes a doping ban which was later rescinded. He has not played for Pakistan since the last Test against India at last December.