My cd is not being read on my panasonic cd stereo system sa-ch64m?

I afraid to say the symptom indicates your unit's laser is faulty
First of all I would suggest you to clean the laser lens to see if it solves your problem.
1) Purchase a CD/DVD laser lens cleaner disc and run it through the system 5-6 times.
If you want, you can buy a CD/DVD laser lens cleaner disc by following this link- http://www.amazon.com/Memorex-CD-DVD-Player-Laser-Lens-Cleaner/dp/B00008EM7U
2) If your unit is not under warranty then try this step otherwise it will void your unit's warranty.
If the cleaning disk does not work then remove the cover of the device, you may be able to locate the laser eye clean the laser with a soft clean cue tip or a cotton bud using isopropyl alcohol.Then check with a magnifying glass for any traces of dirt.
If cleaning doesn't helps then you will have to replace the laser diode and replacing the laser diode is very expensive because it requires the entire optical pickup to be replaced and realigned.Therefore I would suggest you to please first of all enquire about the labor,installation charges etc before going for the repair because in some cases the cost of replacing the laser inside the unit will typically exceed the cost of buying a replacement unit.