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PCB Chairman Dr Nasim Ashraf announced on Friday that the two pacers and opener Imran Nazir had not been given an annual central contract because of fitness and performance issues.
"The players not given central contracts have been given special retainers and if they show commitment and form they can come back into the team after a year," he said.
Ashraf said the governing PCB had deliberated on the central contracts issue for over two hours in Friday's meeting. He said they felt it should not be treated as an employment contract.
"We want it to be an elite contract. So that players fight and compete to get the contracts. It should also serve as an incentive for younger players," he said.
"Not being in the central contracts list does not mean you cannot be selected for the national team. Selectors can consider any player," he added.
Akhtar, one of Pakistan's most senior players in the current team, has been centrally contracted since the system was introduced in Pakistan in 2005.
The board also enhanced the monthly salaries in the different categories of the central contracts.
It promoted batsman Misbah-ul-Haq into the A category and appointed him vice-captain until the end of 2008.
The 15 players given central contracts are:
Category A: Younis Khan, Shoaib Malik, Misbah-ul-Haq, Mohammad Asif and Mohammad Yousuf. Monthly retainer Rs 250,000.
B: Kamran Akmal, Sohail Tanvir, Shahid Afridi, Salman Butt, Umar Gul. Rs 175,000.
C: Abdul Rehman, Yasir Arafat, Rao Iftikhar, Danish Kaneria, Fawad Alam. Rs 100,000.
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