"I don't think this notification by the government has any bearing on me being chairman. I am still chairman of the board," Ashraf told reporters at a function in Lahore.
"I will be consulting my legal advisers on this matter. But apparently it looks as if this notification violates the court orders that restored me as Chairman of the board," he said.
Ashraf was reinstated as chairman of the board last month by the Islamabad High Court after filing an appeal against his dismissal in May 2013.
Ashraf said he knew that the notification had suspended the Governing board but said it didn't affect his position.
He said that Pakistan's standing and image in world cricket would further be damaged after the decision taken by the government.
"Such decisions will only favour India which wants to isolate us. We took a principled stand on the 'Big three' issue but now our position will be further weakened in the ICC and world cricket," Ashraf said.
"How can he remain Chairman. The notification is with the PCB now and from today he is no longer chairman," Sheikh insisted.
He said a meeting of the ad-hoc committee would be held as soon as possible to implement decisions of the government and hold elections.
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