sorry this answer is a bit late, but you won't be able to get ghost.exe to read pqi files. the cd should have been made with ghost.exe itself.
to do this you would have to use the -GHOSTONCD switch and choose to make the disk bootable when asked (if you don't get asked, or not sure, you can use the -BOOTCD switch)
you would need to provide a bootable floppy to do this.
so basically, you need to run:
ghost.exe -bootcd -ghostoncd
and then choose the right compression for it to fit on a cd/dvd
more info on switches can be found here
http://service1.symantec.com/SUPPORT/ghost.nsf/pfdocs/1998082612540625