Alex Ferguson - 12 years of experience before joining Man Utd
Arsene Wenger - 12 years of experience before joining Arsenal
Jurgen Klopp - 7 years of experience before joining Borussia Dortmund
Jose Mourinho - 10 years of coaching + assistant managerial experience before joining Benfica
Bill Shankley - 11 years of experience before joining Liverpool 
Rafa Benitez - 15 years of experience before joining Valencia
Phil Jackson - 5 years of experience before joining the NBA
Gregg Popovich - 23 years of experience before becoming an NBA head coach
Bob Woolmer - 10 years of experience before joining South Africa
Trevor Bayliss - 4 years of experience before joining Sri Lanka 
Upul Chandika Hathurusingha - 4 years of experience before joining Bangladesh
Duncan Fletcher - 3 years of experience before joining England
Mike Hesson - 14 years of experience before joining NZ 
Nick Bollettieri - 10+ years of experience before opening the heralded NBTA
...
Misbah ul Haq - Inexperienced
		
		
	 
I understand from where you are coming, but your premises is wrong.  What you have put here is the zenith of most of these Managers, Coaches and then figured out how much experience they carried into that job.  That actually doesn't tell the full story.  For example, take Sir Alex - he won a Scottish 1st Division title over Celtic & Rangers in his 2nd-3rd year for St. Mirren!!!!  Then, 8 glorious years at Aberdeen, in between he took Scotland to 1986 WC.  His first 6 years at MU actually almost ended in sacking.  Wenger won League 1 as early as 1987, J Mou was the assistant to Sir Bobby at Barca at the age of 25-26 ... before CFC, he won an CL with Porto!!!  Bolletieri was a Director of a Tennis club for 12 years before opening NBTA ...... 
The point is, somewhere you have to start and since PCB was adamant to hire a local coach, I do think Misbah is far better than other usual options.  Javed was made Coach within 2 years of retirement and I am sure in that scale Misbah will do better.
In cricket, Coach's role is exaggerated - HC's role is even more because he is basically a Manager of the squad.  More than HC, I am interested about the Specialist Coaching staffs because that's where skill improvement is involved.  WY is quite decent fast bowling coach (much better than WY as HC), they need a top quality spin coach and MUST - a pro batting Coach.  Then, Misbah's role will be a Resource Manager, where he'll use the Coaching staffs and analysts to execute strategy and players' skill development projects - I back him to do that better than MHK or Javed Miandad.  Above all, PCB must appoint a capable Captain with full command - Misbah might not be the best Coach, but he was a respected Captain and quite successful one, he can groom PAK Captain as well.
Last, but not the least - I read lot about Misbah's negative tactics as Captain.  Don't read much into that - first, as HC he can hardly influence on field tactics if Captain is capable one.  Second, Misbah's PAK played most games in UAE & similar wickets in SRL, WIN - places where you have to play dull cricket to be successful and he was damn successful in those conditions.  I read lot about this AUS tour - but that guy was playing/leading first time in AUS, and many Captains have made mistakes there.  Just like opening with Yasir Shah, I can recall one English Captain fielding 4 pacers in India - to me, equal level of stupidity.  
  [MENTION=141839]moghul[/MENTION]
Very good point - Misbah was selfish.  He covered his a$$ with trusted players around, he protected his safety first tactics by playing negative cricket, he picked experienced/old players because it's always easier to manage seasoned campaigners .... and, he prolonged his career too long (though he was performing, but lots of performing players had retired at the right age).  But, bro - you are missing the key point here : A Selfish player/Captain Misbah didn't help PCT in much, but as a HC - I want him to be selfish.  As long as his employers are fair, a selfish Misbah must deliver as Coach to keep his job, and I do believe he is intelligent enough to find out the way to deliver (acceptably) with his support staffs.        
Not saying, I am sure Misbah will deliver, but what other options do we have, if PCB is hell bent for a local coach?  Best case is Misbah becomes a successful coach and take PAK to 2023 WC, may be even 2027 .... worst case is PCT's performance forces PCB to sack Misbah within a year or two - still some progress in a sense that next time PCB can appoint a top foreign pro and it won't raise mayhem in PAK Cricket circles.