The PCB had fined Akhtar $10,610 and docked him 1.5 points from the total of 20 available to players for discipline in their central contracts after he left a training camp in Karachi this month without informing the team's management.
In his appeal, Akhtar said he had told captain Shoaib Malik he was leaving camp because of a stiff neck.
"The two-man committee heard the board officials and Shoaib's stance and feel he needs to be given more chance to plead his case," committee member Mueen Afzal told Reuters.
"We have asked the board to review this case again and the penalties imposed on Shoaib."
Former Pakistan captain Imtiaz Ahmed was the other member of the committee.
A board official said the case would now be discussed next week.