According to the sources, Waqar has given a "damning report on the team players".
"Waqar has given a damning report on the team players and has said that most of the players were not able to implement the game plan given to them by the coach," a source told PTI.
"Waqar has specifically pinpointed that some of the players are just not willing to work hard enough or cooperate with the coaching staff by executing the suggestions given to them," he added.
"Waqar has also questioned the captaincy skills of Shahid Afridi and some of his decisions. In totality, the head coach is clearly not happy with the way the players have responded or shown improvement in their game."
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The PCB chief has sent the report to the fact-finding committee, which is formed to probe into the national team's poor performance in the Asia Cup and World T20, as well as in earlier series against England and New Zealand.
"Waqar has submitted a complete report on his two-year tenure and the chairman has sent the report to the fact-finding committee for its observations," the source said.
The committee, which includes Test captain Misbah-ul-Haq and senior batsman Younis Khan, has been given the mandate by the board to meet and talk to the captain, coach, manager and senior players of the national team.
The committee will also study the reports of the captain, coach and manager, and then take further action.
The source said that Waqar has made some recommendations to the PCB chairman and told him in clear terms that some drastic decisions needed to be taken to bring about improvements in the Pakistan team including axing of some senior players.