According to sources, the ministry has acted since the ruling government is keen on holding an investigation into the working of Ashraf during the time he headed the Zarai Taraqyati Bank Limited and PCB.
Ashraf was handpicked for both influential positions by former President Asif Zardari.
"From what we know even the prime minister's office has asked for details from the board," one source said.
Under the new constitution, elections were held hurriedly in a day's time in Islamabad in May when Ashraf got elected as board chairman for four years.
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Ashraf was dismissed as chairman of the board by the Islamabad High Court (IHC) in June in the light of a petition filed by retired Major Ahmed Nadeem Sadal, an ex-Army cricket team coach, who said the board of governors that elected Zaka was illegal since it had no representation from Punjab.
Ashraf has filed an appeal against his dismissal before a divisional bench of the IHC which, at its hearing yesterday, adjourned the next hearing for December and allowed present chairman, Najam Sethi and the interim management committee to continue working until then.
Ashraf's lawyer has called for restoration of Ashraf as chairman.
The media has highlighted that Ashraf wasted a lot of the board's money on hiring people on political basis on lucrative packages and on non productive projects.
Ashraf is said to have hired around 68 employees in his tenure.