According to details, Shahzad can face a ban of at least three months from worldwide cricket for violating the anti-doping laws.
But what is the worldwide body's stance on doping?
Sources add that Shahzad has the option to undergo a second dope test. The top-order batsman could face minimum of three-month ban. The decision is expected to be announced within the next five days.
Another source told The News that PCB would set up a committee to hold an inquiry against the cricketer before deciding the scope of punishment.
"But under ICC rules, PCB can not name the player or chargesheet him until the chemical report is CONFIRMED by the Anti-Dope Agency of the government".
While the dope test has come back positive, the report from the laboratory that tested the player's blood sample has yet to be confirmed by Pakistan's anti-doping department.
Sources informed that Shehzad's test was taken during a recent domestic cricket tournament. The PCB is awaiting the results of that test, saying it would be available in the next day or so.
In a press statement, PCB said "a player has reportedly tested positive for a prohibited substance".