A well-placed source said that the PCB was clear that if the BCCI didn't get back with a clearance for the series from their government by Monday, it was all over.
"There is little time left to organise the series and if India does not respond by Monday this series is over," the source told PTI.
He said the PCB was also not very optimistic about the Indian government giving clearance for the series.
"There is lot of logistics involved in hosting the series in a third country which also has lot of tourism especially December being a Christmas and New year holiday season month," he noted.
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Another problem that is causing concerns to the PCB is that due to shortage of time they will have to work round the clock to confirm title and other sponsors for the series.
The source said the board had however dropped any plans to host a pentangular T20 event in December to fill in the gap if the India series didn't take place.
The source further confirmed that if India didn't play this time the PCB in consultation with the England and Wales cricket board will try to organise some Indo-Pak matches in England next summer before the Pakistan and England series.