Don't think so, hasn't been in a test squad or even an a squad for a while . You are right he'd be a handy option in the SC at least, but his bowling is nowhere good enough to pick him as a frontline bowler and who of the top six can you drop?
He needs Misbah and/or Younis to retire soon to free some places, but Haris and Fawad have beastly four day stats are younger and can bowl and unlike Malik have been in the last few squads, then you got Rizwan who has been awesome so far in the odi team, and also has strong four day numbers and has youth on his side.
Then of course their is Wasim who you have probably seen by now, who is a very tempting option, much younger than Malik, and also excellent numbers with the bat and ball in four day cricket, and a captain at underage levels.
So basically, he needs Younis and Misbah gone, the replacements to fail instantly and maybe then he has a chance.
Hope that wasn't all over the place.