The fifth edition of the World Twenty20 with 16 teams in competition will be held in Bangladesh from March 16 to April 6.
"For me Pakistan, India and the West Indies are top three favourites as they play this format well and have enough experience at their disposal," Wasim said during a reception.
India won the inaugural World Twenty20 held in South Africa in 2007 while Pakistan won the second edition held in England two years later.
Hosts Bangladesh and Zimbabwe along with six qualifiers will open the first round of the fifth edition of the World Twenty20.
The top two teams from the first round will join the eight seeded teams in the second round which kicks off with a much-awaited India-Pakistan clash in Dhaka on March 21.
Wasim said an Indo-Pak match will be an ideal kick off to the main round.
"What else do you want as an opening match," said Wasim, who will be commentating on the event. "Whenever Pakistan and India play, millions watch the game and there are no favourites in that match."
Wasim said the Asia Cup finalists must enter the event with a positive frame of mind.
"Pakistan had a very balanced squad and all they need to do is to enter the event with a positive frame of mind," said Wasim, who criticised Pakistan's loss in the Asia Cup final to Sri Lanka last week.
Sri Lanka chased down a challenging 261-run target in 46.2 overs with opener Lahiru Thirimanne notching a brilliant 101.
Defending champions Pakistan had posted a tough 260-5 with Fawad Alam hitting a maiden hundred with 114 not out.
This was Sri Lanka's fifth Asia Cup title, equaling India's number of triumphs in the event initiated in 1984.
"I couldn't sleep for two days as I failed to understand the manner in which we used our bowlers in the final," said Wasim.
"I think in the first place the decision to bat first was not correct because Pakistan had chased well in the matches against India and Bangladesh and then defending a 260-plus total we didn't use our bowlers well."
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@Truth Detector: Story of sour grapes! PCB need BCCI to survive and you want Top Three to be knocked out of WT20!. No home series, No IPL for Pakistan. We can understand your feelings mate
Thanks for the jinx Waz!
@truth detector this is the difference between u and me ... While Indians wish india wins...U r more interested in others loose than a win for your country..y so much hate? how does it benefit pakistan? U know the way sometimes u people think one has to wonder if u are actually pro national pakistani or more anti world.. Because your actions otherwise. u celebrate more hatred for other country than achievements of your own country. Thank god we don't share the same mentality ...an indian... But wish pak well... If india doesn't make it best of luck to your team and hope you make it.
My only hope is that none of the BIG 3 qualifies for knock-off round. That will be as good a Pakistan winning world cup !!
I do not agree with Wasim Akram because captain has no innovation and he is not creative. Apart from this poor fielding, poor wicket keeping and loose bowling will sink Pakistan once again.