Inzamam urged the people to be patient with the team.
"I don't have a magic wand and there is a lot we need to do right in Pakistan cricket to build a strong team. Immediately my task is to ensure we pick a balanced and confident squad for the tour to England," Inzamam told a media conference in Lahore.
Former Test spinner Tauseef Ahmed, former Test opener Wajahatullah Wasti and former Pakistan allrounder Wasim Haider were announced as the new selection committee members by Inzamam.
"I have told the PCB that I want total independence to work with a free mind and pick the best players and they have assured me it will be done," Inzamam said.
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PCB chairman Shaharyar Khan said he was glad that Inzamam accepted the responsibility.
"I am very happy Inzamam accepted to take up this responsibility. Because we in the PCB have a lot of respect and regard for him and his achievements," Khan said.
Inzamam, who resigned from his post as head coach of Afghanistan to take up the PCB assignment, also pointed out that it would take some time to put things right in the national team and domestic cricket.
Inzamam said he believed in giving a lot of importance to the views of the captain and coach as they were the ones who work with the players and get the best out of them.
"The captain and coach will be co-opted members but we will take them on board and I want to see all of us on same page as this will put an end to many issues confronting our cricket," he said.
This is the first time Inzamam has accepted an official position in the board. He has replaced Haroon Rasheed as chief selector.
The PCB had dissolved the previous selection committee after Pakistan fared badly in the Asia Cup and World T20.