Government sources confirmed the incident to Citi News. He is said to have died on Saturday after an asthmatic attack on the Spintex Road.
Mr Obeng served in the Rawlings administration and was a senior advisor to the late President John Mills and continued in a similar role under current President, John Mahama.
Until his reported death, he chaired the National Development Planning Commission (NDPC) and was on Thursday acknowledged by the President as one of the people who played a crucial role in the just ended National Economic Forum at Senchi.
Until his death, he was the chairman of the Kwame Nkrumah University of Science and Technology Council.
He was the Chief Consultant and Chairman of OB Associates, a public and private sector consulting firm and chairman of Ghana Agro and Food Company.
P.V Obeng was a product of Opoku Ware School and Kwame Nkrumah University of Science and Technology.