Suarez's participation in the tournament was plunged into doubt when he underwent surgery on his knee last week in order to fix an injury he had picked up while playing for Liverpool.
Uruguay released a statement immediately after the procedure suggesting that Suarez would recover in time to feature in Brazil, and Pan has now revealed that they remain optimistic over the 27-year-old's fitness.
"The core of the concept of his return was expressed in the initial statement made in the immediate post-operative period and we can happily say that Luis's participation in the World Cup is not ruled out," Pan told a press conference in Montevideo.
"It is very risky to give exact dates. We can not have absolute certainty or clear numbers but the postoperative period has been very good. Luis is not ruled out of the World [Cup], but you can not talk about specific times.
"Luis is very positive, I never heard a negative expression, and he says it is better every day. Today [Suarez] is painless [and] is working on fitness and supporting essentials."
Suarez is Uruguay's leading goalscorer of all time with 38 goals in 77 appearances.