Much has been said about this topic, though it should have been resolved in a much simpler manner. It is shameless to see India's continued evasion to a resolution, and ICC's reluctance to be the enforcer.
Bottom line: Per a fair FTP plan, each country should play each other at some minimum frequency home and away. In a league of 10 teams (8 meaningful ones), you can't have lopsided schedules and especially ones where two teams don't play each other at all. Therefore, series between Pakistan and India needs to be inked as part of FTP.
Not playing Pakistan is India's problem. Whether's its because they don't want to, or want to but can't because their government doesn't allow, is nobody else's problem. Why should anyone else care what GOI thinks and wants? If the BCCI is unable to get them onboard, and therefore unable to play, then forfeiture of the series and associated points along with any fees/media rights is the only reasonable outcome. Why should anyone other than India have to pay for their internal dysfunction?
If you want to mix sports and politics, go right ahead but be honorable in your stance and be accountable for your choices.