The Indian World Series Hockey is tempting many Pakistani players with lucrative offers but is not recognised officially by the International Hockey Federation.
PHF President Qasim Zia said: "The council has unanimously agreed that all those players who defy the PHF and go and play in any tournament that is not sanctioned by the International Hockey Federation will be immediately banned for five years and would not be able to play in Pakistan".
Pakistan's president and prime minister were quick to praise the players in a message to the team.
"The Pakistan hockey team by clinching the tri-nation title have made the nation proud. We hope that the national hockey team will continue to bring laurels for the country through their exceptional performance in future as well," they said.
India and Pakistan square off against each other in the Asian Champions Trophy
Pakistan failed to convert the eight penalty-corners they won before the final whistle and with the teams deadlocked at 0-0, India won the penalty shoot-out 4-2.
"We were unlucky," said manager Khawaja Muhammad Junaid. "We deserved to win because we kept India under pressure throughout the match. But reaching the final is itself a big achievement."
Sun 15 May 11: Pakistan have lost 3-2 to Australia in the final of the Sultan Azlan Shah Cup in Malaysia.
"This was Pakistan's best match against the world champions Australia in recent years. All in all it was a successful and satisfying event which revived Pakistan's hockey reputation," said manager Khawaja Muhammad Junaid.
Sat 9 Oct 10: Pakistan have lost 1-0 to Australia and will now be looking to beat India in a crunch game on Sunday.
Wed 06 Oct 10: Pakistan beat Malaysia 4-1 in their second pool match.
Muhammad Imran put Pakistan ahead in the 17th minute when he converted a penalty corner. Rehan Butt and Shakeel Abbasi struck in the second half before striker Muhammad Waqas rounded off Pakistan's score with a goal in the 65th minute.
Shakeel Abbasi and Rehan Butt put Pakistan ahead but Muhammad Imran sealed the win in the 43rd minute, converting a penalty corner.
Mon 27 Sep 10: Pakistan have been talking up their chances at next week's Commonwealth Games. After finishing last at the World Cup in March, Pakistan's Captain Zeeshan Ashraf is hopeful the team can bounce back in Delhi.
"Our first target will be to reach the semis, and if we are able to do that I am sure we can upset the best of teams in the race for the title" he said.
If Pakistan are to challenge for the title they will need to progress from a difficult pool that contains India and world champions Australia.
"We have got a tough pool but it is a blessing in disguise. It will be easier for us to reach the final four if we overcome the initial hurdle" said Pakistan striker Rehan Butt.
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