I think, in ODI, the balance of power is too much shifted in favor of PAK. Despite having a much vaunted team (which had probably most of India's 'll time XI), IND is just slightly a head in H2H in last 13-14 years; but overall still PAK is way a head. I must add that, during 90s, IND-PAK played not many bilateral series, otherwise this ratio would have been even more one-sided. PAK's bowling made the real gap & it's not surprising that, PAK result against IND is probably best where IND is strongest - at Home. A lot of Indian Cricket Intellectuals try to cast PAK ODI supremacy over IND due to so many matches in UAE (Main reason for BCCI not playing in UAE), but someone should check IND-PAK ODI results in IND (& that too, 2Ws hardly playing in IND).
My team 'll be (12 men & 4 reserves)
1. Tendulkar
2. Anwar
3. Zaheer
4. Javed
5. Inzi
6. Imran (C)
7. MSD (VC)
8. Kapil/Razzak
9. Akram (VC)
10. Waquar/Kumble
11. Ajmal/Saqlin
12. Ganguly/Sehwag
Ganguly/Sehwag 'll be 12th man, ideally, if only any of the batters gets injured from XI, one of them 'll play. Normally, Waquar 'll start, unless the match is played in IND (Kumble replaces him there); between Ajmal & Saqui - very little to choose, but I took Ajmal because it was definitely much easier for Saq to bowl along with Was, Waq, Aaq, Akt & Mush. Razzak is the 16th man, just in case if either of IK or KD are injured.
I am not surprised at all to see Zaheer Abbas hardly been picked, because hardly any of us have seen him live. Guys, he was the second best ODI player of his time, unfortunately, that's the maximum he could have raised. Not only him, so far, no body 'll replace the Numerous UNO in ODI; who played during the same time of Zaheer Abbas. Also, the greatest fan that I am, still if I am to pick a single all-rounder for ODI, JUST AS A PLAYER, I think I 'll pick Kapil over Imran - brilliant new ball bowler, outstanding all-round fielder & a match winning demolisher, batting at 7/8. Imran makes the team for his leadership & conventional batting as well, for which, I put him at 6, a head of even MSD. In future, may be VK might replace Inzi & play at No. 3, pushing Zed at 5. Between Ganguly & Anwar, I think Anwar was just a bit better player of fast bowling while both were brilliant against spin (but Anwar better striker of Spin). Gangully indeed could bowl a bit, but with 6 bowlers & Tendulkar in the team, I don't think his part-time medium -pacers should be counted.
Biggest controversy could be, IND being reputed for their batting strength, but only 1 of them making the cut. But, my logic is, IND had been a better batting side oblate (since 90s) because of their overall batting strength & depth. A side always having 4/5 world class players in their line up; while PAK batting since 80s has always been revolving around 1/2 individuals, who had been outstanding, almost carrying the side, like Javed in 80s, Inzi in best part of 2000s. In early to mid 90s, when PAK had a IND like depth, they were indeed a great batting side. I also, have considered the value of the run & therefore despite having a brilliant record, MoYo misses out to Sehwag. Also, I picked Zaeer, Javed & Inzi at 3, 4 & 5 because they were simply master of their spot. There had been hardly a better ODI player than Javed at 4 while probably hardly anybody influenced the game more than Inzi, batting at 5.
I think, on pure ODI Captaincy merit, MSD could be slightly ahead, because ODI is the most defensive form of Cricket & MS is a master of that; but I picked Imran for that an all -time XI with so many great cricketers should be led by someone as Charismatic as King Khan.
So, 3 Indian & 8 Pakistani in XI ( 6 & 10 in squad), with the Captaincy splited.