According to the Daily Times, the report has been sent to PCB Chairman Nasim Ashraf, and a final decision is expected only after he returns from a break during the middle of the month.
A PCB official said that the committee has recommended that Asif be banned, but refused to give details about its duration.
"A central clause of the player's central contract has been violated so a ban for a certain number of matches is likely," he added.
Asif on the other hand has so far failed to hire well known British lawyer and anti-doping legal expert, Mark Gay who has represented high profile athletes in doping offences.
He is said to be now making attempts to hire the services of renowned sports medicine expert from England, Dr Graham Durgan to plead his case against dope charges.
His lawyer Shahid Karim, however, said: "Nothing is final as yet. But we are holding talks to secure the services of Dr Durgan."
Asif had failed the dope test conducted during the IPL held in April-May.
Karim has asked the IPL to postpone the 'B' sample testing to be held in Switzerland at a World Anti-Doping Agency (WADA) accredited laboratory because of visa-related problems, as he says he requires more time to prepare the case to defend his client.
So far, two requests have been sent to the IPL for the postponement of the 'B' sample test, but the IPL has neither accepted nor rejected it.
PCB sources said that the IPL had indicated that Asif and his lawyer should seek help from the PCB to get their visas in time to travel to Switzerland for the tests.
Karim said in worst case scenario if the IPL didn't accept their request the 'B' sample test would most probably be held without their presence.
The PCB has made it clear it would not be offering Asif any assistance in the case and he has to fight it himself. The Board's medical commission member, Dr Sohail Saleem, has also blamed Asif for the mess he finds himself in. He also dispelled the impression that Asif's failed dope test issue had dented the image of Pakistan cricket.
"I don't think so because doping offences are the sole responsibility of an individual. Asif is responsible if he has failed a dope test in the IPL not the board and I don't think his actions reflect on our cricket," Saleem said.