Akram said the Pakistan side possessed the talent to win the tournament to be played from September 18 to October 7.
"Pakistan are favourites. Players like Imran Nazir and Abdur Razzaq have the ability to turn a match on its head and there is no reason why Pakistan can't do well. They also have a very good chance against Australia in the upcoming series in the UAE," Akram told the Pakistani media in Australia on the sidelines of the U-19 World Cup.
However, the former left-arm fast-bowler also advised the team's batsmen to adopt a more aggressive and positive approach after having witnessed them in their recent series in Sri Lanka.
"At times, I thought I was watching a Test match. They need to maintain a strike-rate of over 130 and a boundary should be followed by singles to keep the scoreboard moving. Their approach needs to become more adventurous if they want more success in the format," he said.
Pakistan reached the final of the inaugural Twenty20 World Cup in 2007 to lose to India but won the next edition held in England in 2009.
The former all-rounder also made it clear that he has no intentions or the time to work in a full-time capacity as a coach with the national team.
"I am enjoying life and have to give time to my children. Between my commitments with the KKR and television commentary, I really don't have much time left for full-time commitments," he said.
"But during a meeting with PCB official Intikhab Alam, I informed him that I am available in November and want to hold a camp for young fast bowlers in Karachi. I am keen to work with under-19 and Pakistan 'A' team players," he added.
