The expected announcement came late last night through a press release from the PCB, which said that the changes were necessitated due to injuries that batsman Azam and pace bowler Raees had picked during the Pakistan Super League in Dubai.
The PCB said Babar and Raees were unavailable for both events. Both the youngsters are yet to play in a T20 international for Pakistan.
According to the PCB, Azam suffered a fracture on his left forearm during a practice session with Islamabad United and he has been advised around three to four weeks rest. Left arm pacer Raees suffered a grade one hamstring strain and is working to regain his fitness.
"Since we have options available to bring in changes in our World T20 squad before the support period starting from March 8, 2016, it has also been decided to use this option and include Khalid Latif, who showed tremendous display of power hitting in the PSL matches.
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"Khalid Latif could not be made part of the Asia Cup squad due to some technical reasons but would join the squad for the World Cup," Rasheed said.
(REOPEN SPF 4)
Squad: Shahid Afridi (C), Mohammad Hafeez, Shoaib Malik, Umar Akmal, Sarfraz Ahmed (wk), Sharjeel Khan, Imad Wasim, Anwar Ali, Mohammad Irfan, Wahab Riaz, Mohammad Amir, Mohammad Nawaz, Khurram Manzoor, Mohammad Sami, Iftikhar Ahmed (only Asia Cup), Khalid Latif (only World T20).