Former Test batsman Rasheed also made it clear that the selection committee had a clear policy that those seniors who didn't perform consistently well would be sidelined from the national team in both formats.
"We are looking at the future and at the next World T20 Cup. Our performances in Sri Lanka show that the youngsters are coming up well and that is a very good sign for Pakistan cricket," he said.
"We expect the senior players to perform when they play and show more consistency and responsibility like Shoaib Malik has done in Sri Lanka or like Younis Khan did in the third Test," he noted.
"Any senior player who is not consistently good enough will have to give way for younger players."
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Rasheed was also clear that the selectors wanted to see a turn around in form from the experienced and flamboyant all-rounder, Shahid Afridi who retired from ODIs after the World Cup but now leads the national T20 side.
He noted that the induction of younger players in the ODI and T20 sides had also lifted the fielding standards while there was more zest and energy to win matches.
Pakistan hammered Sri Lanka by 135 runs in the third ODI to take a 2-1 lead in the five match series which Pakistan must win to be in a good position to qualify for the 2017 Champions Trophy.
Asked whether senior batsman Umar Akmal would be considered for the T20 series in Sri Lanka after the selectors dropped him for the ODIs, the chief selector said this would be decided after consulting the T20 captain.