Najam Sethi told reporters in Lahore on Monday that Rasheed will be heading the new selection committee.
Mickey Arthur has spurned an offer from the PCB to return as the head coach of the national team, forcing the board to continue its search to find a replacement for incumbent Saqlain Mushtaq.
Ramiz Raja's tenure as Pakistan Cricket Board chairman is on a sticky wicket as new PM Shehbaz Sharif may appoint a man of his choice.