Both teams are placed in Group A alongside India, with the top two sides qualifying for the Super 4 stage.
Nepal captain Rohit Paudel said it was a "historic moment" for his country to compete against the heavyweights of cricket.
Nepal qualified for the Asian Cup after beating United Arab Emirates in the final of the qualifier.
Pakistan topped the International Cricket Council's ODI rankings after whitewashing Afghanistan 3-0 in the recent series. Pakistan packed their playing XI with frontline players, with the likes of Shaheen Shah Afridi, Haris Rauf and Naseem Shah forming a formidable pace attack.
The Asian Cricket Council is organising this year's tournament in two countries - Pakistan and Sri Lanka - after India refused to travel to Pakistan due to political tensions between the countries.
The ACC accepted Pakistan's hybrid model, according to which India will play all their matches in Sri Lanka. Sri Lanka will host nine games, including the final on September 17, while Pakistan will host four games.
Group B includes Afghanistan, Sri Lanka and Bangladesh and all three teams will play at least one game in Pakistan.
Pakistan: Fakhar Zaman, Imam-ul-Haq, Babar Azam (capt), Mohammad Rizwan, Salman Ali Agha, Iftikhar Ahmed, Shadab Khan, Mohammad Nawaz, Shaheen Shah Afridi, Naseem Shah, Haris Rauf.
Nepal: Kushal Bhurtel, Aasif Sheikh, Rohit Paudel (capt), Aarif Sheikh, Kushal Malla, Dipendra Singh Airee, Gulsan Jha, Sompal Kami, Karan Khatri Chhetri, Sandeep Lamichhane, Lalit Rajbanshi.
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