PCB announced last week that Pakistan would play in tournament hosted by South Africa, which is set to compensate for the postponed Champions Trophy.
But the International Cricket Committee of the PCB have accused PCB chief operating officer Shafqat Naghmi of acting unilaterally in planning the tournament, especially since the PCB currently has no chairman.
The committee will decide whether to approve Pakistan's participation in the tournament at an emergency meeting on Wednesday.
But Naghmi, who denied acting independently, is still hopeful the tournament will be staged despite the recent financial setback.
"CSA (Cricket South Africa) will take its time before finalising the project because we are aware a lot of hard work has to be done to host such events," Naghmi told the News.
And while Sri Lanka had initially agreed to play in the tournament, doubts also remain over their participation.