Afridi was ruled out after sustaining a knee ligament injury during the first Test against Sri Lanka last month.
The left-arm paceman's absence has presented Hasnain with an opportunity to join up with the squad for a tournament that starts in the United Arab Emirates on Saturday.
Hasnain has been playing for the Oval Invincibles in The Hundred, but will cut short that spell to report for international duty.
The 22-year-old quick has feature in 18 Twenty20 Internationals, taking 17 wickets at an average of 30.70.
Pakistan face fierce rivals India in their first Asia Cup match in Dubai on Sunday.
Head coach Dravid has mild symptoms and is being supervised by the Board of Control for Cricket in India (BCCI) medical team.
The legendary former India batter will be able to join up with the team once he has tested negative.
India face fierce rivals Pakistan in their first match of the Asia Cup at the Dubai International Stadium on Sunday.
They will also take on a qualifier in Group A in a tournament that will be played with a Twenty20 format.
VVS Laxman stepped in to take over as head coach for the ODI series whitewash of Zimbabwe as Dravid was given a rest.
The tournament, which was last held in the nation in 2008, was awarded to Pakistan following a decision to move the 2022 edition to Sri Lanka.
Though the latter was ultimately moved to the United Arab Emirates owing to an ongoing political and social unrest in Sri Lanka, plans had still appeared set for the 2023 edition to proceed as planned in Pakistan.
But now Shah, who is also the incumbent president of the Asian Cricket Council (ACC), says the tournament will be moved owing to India's refusal to travel.
"The Asia Cup 2023 will be held at a neutral venue," he told media after the BCCI's AGM. "I am saying this as ACC President.
"We [India] can't go there [to Pakistan], they can't come here. In the past also, Asia Cup has been played at a neutral venue."
The statement is likely to raise eyebrows, given the ACC have not officially discussed the matter, let alone made a decision on the tournament.
India have not played in Pakistan since the 2008 Asia Cup.
Pakistan, meanwhile, have not visited India since 2016 amid strained political relations between the countries.
The pair will meet in the T20 Men's World Cup in Melbourne on October 23.
The fast bowler sustained a right knee ligament injury during the first Test against Sri Lanka last month and, while remaining part of the squad for the tour of the Netherlands, has not featured.
It was stated before the tour of the Netherlands began that Afridi would play no more than one ODI in the series but Pakistan hoped he would be able to feature in the Asia Cup.
Now, a return has been pushed back and Pakistan now hope he will be fit for the October T20 tri-series in New Zealand ahead of the World Cup.
"I have spoken with Afridi and he is understandably upset with the news, but he is brave young man who has vowed to come back strongly to serve his country and team," Dr Najeebullah Soomro, PCB chief medical officer, said in a statement.
"Although he has made progress during his rehabilitation in Rotterdam, it is now clear he will require more time and is likely to return to competitive cricket in October."
The 22-year-old will stay with the squad in the Netherlands to complete his rehabilitation and the PCB will soon announce a replacement for the Asia Cup, in which Pakistan face India in their opener on August 28.
Kohli has been given a break after failing to end his run drought on the tour of England last month, only managing a top score of 20 from six innings.
The ex-skipper has not made an international hundred since he reached three figures in a Test against Bangladesh in November 2019.
Kohli was recalled for the Asia Cup and is set to be back at the crease in a clash with fierce rivals Pakistan at the Dubai International Stadium on Sunday.
Former India captain Shastri thinks the 33-year-old batter can reap the rewards of taking some time off.
Shastri said: "It is not rocket science. Mental fatigue can creep into the best in the world. This down time was not just needed for his body but to reflect.
"He will come back with a much calmer mind. He gets 50 in the first game, mouths will be shut. Public memory is very short and works both ways.
"There is no cricketer fitter than him. People keep saying one innings can make a difference, but with a player like Kohli it makes a massive difference.
"His hunger and passion remains undiminished. He would have learnt from this phase, let me tell you that."
India head coach Rahul Dravid was unable to fly out to Dubai with the squad on Tuesday after testing positive for coronavirus.
Defeat to Pakistan last time out left India essentially requiring a victory here, and they fell short as Sri Lanka ultimately held their nerve.
While Rohit Sharma top-scored with 72, India rarely looked in control, with Suryakumar Yadav (34) the only other to go over 17 runs.
With the impressive Dilshan Madushanka (3-24) helping to reduce India to 173-8, Sri Lanka will have been confident going into bat and an opening stand of 97 from Pathum Nissanka (52) and Kusal Mendis (57) had victory looking almost certain.
But Yuzvendra Chahal (3-34) sowed the seed of doubt as he took both openers and Charith Asalanka (0), while Ravichandran Ashwin (1-32) claimed the scalp of Danushka Gunathilaka (1).
Sri Lanka's momentum had dissipated, but Dasun Shanaka (33 not out) and Bhanuka Rajapaksa (25 not out) got them back on track, their two boundaries in each of the 18th and 19th overs proving crucial as they reached 174-4 with a single ball remaining.
Shanaka turns up the heat
Sri Lanka's chase appeared to be petering out – there was a moment when they required a rate of more than 12 runs per over but were averaging just over eight.
Shanaka's haul of 33 may have been outscored by four other players on the day, but his knock came from just 18 balls at a strike rate of 183.3, the highest of anyone to record more than 15 runs, and it was crucial to Sri Lanka claiming victory.
Deadly Dilshan
This was a tremendous bowling display by the 21-year-old, with his dismissal of Virat Kohli for a duck particularly satisfying.
From his four overs with the ball, India hit just one boundary – every other Sri Lankan bowler had at least two against them.
