The notice was given to Razzaq for criticising Hafeez after the team's semifinal ouster from the ICC World Twenty20 in Sri Lanka.
Razzaq blamed Hafeez for dropping him for the semifinal and said the captain should have had the courage to admit this instead of shifting the blame on the team management.
"What Razzaq has done is a serious offence under the code of conduct and we have sent him a notice asking him to respond within seven days," a PCB official confirmed to PTI.
The allrounder's remarks indicated conflict within the team.
"I will see the showcause notice and consult with my lawyer before deciding on my future course of action," Razzaq said.
"I will be looking into my options before deciding what to do about the notice," he added.
Razzaq does not feature in the PCB's list of centrally contracted players but an official said he was a signatory to the code of conduct and was bound by the rules. MORE