The eight-team competition is scheduled to be held in Pakistan from September 12 to 28 but Australia, England, South Africa and New Zealand have all expressed reservations about competing due to security concerns. The ICC reviewed and approved security arrangements in Pakistan last week and official delegations met with players from the four countries in an attempt to address the situation.
However, their fears will not have been eased after a suicide bomber killed 23 people in a hospital in Peshawar on Tuesday, just a day after Pervez Musharraf stood down as the country's president.
But if the ICC decide to stage the Champions Trophy elsewhere - Sri Lanka has been touted as a possible destination - the PCB insist Pakistan will not be taking part.
"The Champions Trophy will be held in Pakistan and there are no chances of shifting the event from Pakistan to any other country," acting PCB chairman Nasim Ashraf was quoted as saying in the Dawn.
"If the ICC shifts the Champions Trophy to any other venue, Pakistan will pull out from the event."
Meanwhile, the Pakistan government plans to install an ad-hoc committee to oversee administration of the PCB following the resignation of chairman Nasim Ashraf.
Ashraf relinquished his post hours after Pakistan Musharraf, who was facing impeachment by Parliament, announced his decision to step down on national television.
Musharraf was also patron of the PCB and had handpicked Ashraf to lead the organisation in October 2006.
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