Its sad that it has to come to this :( Wasim Akram is one of my favorite cricketers and is extremely well liked in India, and I (and a lot of other Indians) would definitely like to see more of him in India.
However, this is a policy decision by the govt., and in some ways is justified.** Pak has been flip flopping on the issue of cross border terrorism and at such a time to invite/welcome a Pakistani in India (however big his fan base in India might be) will cause a domestic backlash**.
That is your view and you are entittled to it. However, from cricketing point I hope Wasim Akram learns a lesson from it and also Pakistan should bar all Indian commentators from commentating on future matches during Pak series.